1915day.year

A story in New York World newspaper reveals that the Imperial German government had purchased excess phenol from Thomas Edison that could be used to make explosives for the war effort and diverted it to Bayer for aspirin production.

In 1915, an exposé revealed that Germany had diverted phenol purchased from Thomas Edison from munitions to Bayer for aspirin production, stirring wartime controversy.
On August 15, 1915, the New York World published an exposé alleging that the Imperial German government purchased surplus phenol from inventor Thomas Edison under the pretext of munitions needs. Phenol was a critical compound for both explosives and pharmaceuticals. Instead of using it to bolster its war effort, Germany reportedly redirected large quantities to Bayer for aspirin manufacture. The revelation sparked international outcry and accusations of profiteering amid global conflict. Critics argued that Bayer and the German government were colluding to prioritize profits over wartime necessity. The story highlighted the complex relationship between industry, innovation, and national strategy during World War I.
1915 diverted it
1971day.year

President Richard Nixon completes the break from the gold standard by ending convertibility of the United States dollar into gold by foreign investors.

President Richard Nixon ended the US dollar's convertibility into gold, effectively collapsing the Bretton Woods system and reshaping global finance.
Under the Bretton Woods agreement, the US dollar was pegged to gold and other currencies were tied to the dollar's value. Facing inflation and dwindling gold reserves, President Nixon announced on August 15, 1971, the suspension of dollar-to-gold convertibility for foreign governments. This dramatic policy shift, known as the "Nixon Shock," marked the end of fixed exchange rates and the beginning of fiat currencies. The move sent shockwaves through international markets, leading to floating exchange rates and new financial regulations. Nixon's decision remains one of the most significant monetary transformations of the 20th century, with effects still felt in today's economy.
1971 Richard Nixon gold standard ending United States dollar