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We haven't used a gold-backed currency since the end of Bretton Woods in 1972.
by xapata 9y ago
We haven't used a gold-backed currency since the end of Bretton Woods in 1972.
- kllrnohj 9y agoDate nits: The US dollar stopped being based on gold in 1971 when conversions from the dollar to gold were stopped by Nixon. The formal repeal of Bretton Woods then occurred in 1976, and the rest of the industrialized world transitioned to fiat-based currencies around that time as well.