Today marks the 40th anniversary of President Nixon untethering the dollar from any link to...

|By:, SA News Editor

Today marks the 40th anniversary of President Nixon untethering the dollar from any link to gold. Stocks rallied sharply on the day of the announcement. Since that time, the S&P 500 increased 12-fold, the barbarous relic, 50-fold (S&P returns would look better with reinvested dividends, but still don't match gold).