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Well technically yes. It effectively died in the 1930s when England stopped using it and the US forced citizens to hand over all gold. Its peak in usage was ~18
by dumbfoundded 7y ago
Well technically yes. It effectively died in the 1930s when England stopped using it and the US forced citizens to hand over all gold. Its peak in usage was ~1870 to ~1910.
https://www.investopedia.com/ask/answers/09/gold-standard.asp https://www.investopedia.com/ask/answers/09/gold-standard.as...
- chrisco255 6y agoWe were still on the standard through the 70s, but FDR and company did devalue the dollar with respect to gold during the 30s to finance all the New Deal programs. Bretton Woods in 1944 re-established the gold standard for the dollar and then all other currencies were pegged to the dollar and that continued until 1971, when Nixon "temporarily" suspended it, effectively creating the modern fiat boondoggle we have today. https://en.wikipedia.org/wiki/Bretton_Woods_system https://en.wikipedia.org/wiki/Bretton_Woods_system