Gold Standard Collapse (1971 Ka Dhoka)
Bretton Woods ka wada bohot simple tha: Har 35 US Dollar ke pechaay America ke vault mein ek (1) ounce Gold hoga. Koi bhi desh apne dollar wapas la kar gold claim kar sakta tha. Lekin America ne is waade ki dhajiyan uda din.
1960s mein America Vietnam War lad raha tha aur social walfare par heavily karcha kar raha tha. Paise the nahi toh unhone beshumar Dollars print kardiye, jabki unke vaults mein naya gold utna aa nahi raha tha. Yaani 'receipts' gold se zyada ban gaye.
France jaise deshon ko is cheating ka shak hone laga. Unhone France mein maujood Dollars ship kar ke physical 'Gold' America se mangna shuru kar diya. Dekhte hi dekhte America ka gold reserves drain hone lage!
Panic aa gaya! 15 August 1971 ko US President Richard Nixon TV par aya aur duniya ki tareekh ka sabse bada aelan kiya: 'Aaj se hum dollar ke badlay gold wapas karna temporarily band kar rahay hain.' Isay 'Nixon Shock' kaha jata hai. Yahi woh din tha jab note ke peechhe se gold ka backup mukammal hat gaya.
Sochiye: Jab note (dollar) ke peechhe Gold support (value) hi na rahe, toh is paper ki kya haisiyat baaki reh jati hai?
Key Takeaway
1971 mein America ne Dollar ka Gold ke saath rishta (link) tod diya. Woh jo paper asal gold ki ek raseed (receipt) thi, wahi paper bina kisi asli qeemat ke officially ek independent Currency ban gaya tha.