aug 5, 1971 - Abandoning the Gold Standard (Part 2)
Description:
President Richard Nixon took the final steps in abolishing the Gold Standard in America, completely locking off its reserves from both citizens and foreign governments alike. Unlike how it had been for the 40 years prior to this, the price of gold began fluctuating with changes in supply and demand.Added to timeline:
Date:
aug 5, 1971
Now
~ 54 years ago