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aug 15, 1971 - President Nixon officially ends the Gold Standard

Description:

President Nixon officially ends the Gold Standard and the price of gold is now based on of supply and demand instead of a standard amount. This impacted the economy by changing the backing of the US dollar and changing the value of gold.

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Banking Timeline

ByKeanuKawata
10 Jan 2023
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Date:

aug 15, 1971
Now
~ 53 years ago
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