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 1971Added to timeline:
Date:
sep 1, 1971
Now
~ 52 years ago
