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February 29, 2020
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sep 1, 1971 - US Abandon the Gold Standard

Description:

No country currently backs its currency with gold, but many have in the past, including the U.S.; for half a century beginning in 1879, Americans could trade in $20.67 for an ounce of gold. The country effectively abandoned the gold standard in 1933, and completely severed the link between the dollar and gold in 1971

Added to timeline:

2 months ago
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46
European History Key Events

Date:

sep 1, 1971
Now
~ 48 years ago
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