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The dollar wasn't a fiat currency in the 30s. The dollar was backed by (and directly convertible to) gold until 1971.
by ByteJockey 5y ago
The dollar wasn't a fiat currency in the 30s. The dollar was backed by (and directly convertible to) gold until 1971.
- JanisL 5y agoI think it's important to note that dollars weren't directly convertible to gold for regular citizens for many years before 1971 which is the date that the window was closed entirely.