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aug 5, 1971 - President Nixon officially ends the Gold Standard

Description:

. On August 5, 1971, President Nixon took the final step to completely remove the U.S. from the Gold Standard and declared the U.S. would no longer redeem any dollars for gold. Since then, the price of gold has fluctuated with changes in supply and demand.

Added to timeline:

History of Banking

ByRy
11 Jan 2023
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135

Date:

aug 5, 1971
Now
~ 53 years ago

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