There was never a dollar quota. They represented amounts of gold until Richard Nixon finished a process that had begun during the great depression and fully sto

There was never a dollar quota. They represented amounts of gold until Richard Nixon finished a process that had begun during the great depression and fully stopped honoring the right to exchange one for the other. That was the end of this system: https://en.m.wikipedia.org/wiki/Bretton_Woods_system https://en.m.wikipedia.org/wiki/Bretton_Woods_system Since everyone was already exchanging in dollars at that time their value didn't drop to zero, although it has fell a lot since then for obvious reasons. Since people don't really use dollars as a store of value on a large scale anymore (Bill Gates does not own billions of dollars, he owns billions of dollars worth of stocks land etc.) it's not as bad as it sounds.