It marks 55 years since President Nixon ended the dollar’s convertibility into gold on August 15, 1971. What was called temporary became permanent, removing the final restraint on dollar creation and ushering in decades of rising …

        Fifty-four years ago today, President Nixon went on national television and quietly made one of the most consequential announcements in economic history: the U.S. would no longer redeem dollars for gold. What was sold as a …