HermitMunster + 146 July 10, 2018 Did it have anything to do with Nixon getting us out of the Bretton Woods' agreement, or was it wholly because of the Arab oil embargo? Or was there any correlation between the two? Were we paying the Saudi's with U.S. dollars back in '73? In this Wiki entry it says: "In September 1971, OPEC issued a joint communiqué stating that, from then on, they would price oil in terms of a fixed amount of gold." Is that accurate? And for how long did OPEC do that? I had no idea the oil embargo was the impetus to the 55mph speed limit and year-round daylight saving time. 1 Quote Share this post Link to post Share on other sites
Tomasz + 1,608 July 10, 2018 (edited) Read about consequences of Jon Kippur war in 1973 and oil embargo= Arab reaction for Western World support for Israel. https://en.wikipedia.org/wiki/Yom_Kippur_War Edited July 10, 2018 by Tomasz 1 Quote Share this post Link to post Share on other sites
Justin Hicks + 162 JH July 11, 2018 Yom Kippur war started it off, Nixon taking the US off the gold standard was a direct slap in the face to the middle east was the final shot. 1 1 Quote Share this post Link to post Share on other sites
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