I can imagine that, but because I know about finance I know that in reality a person in the US could not exchange $35 for an ounce of gold in 1971. In theory s

I can imagine that, but because I know about finance I know that in reality a person in the US could not exchange $35 for an ounce of gold in 1971. In theory sovereign nations had that right up until 1972, but in practice lots of agreements between nations made in the decade and a half before 1972 undermined that right by limiting exchanges or asking foreign governments to hold dollars in place of gold.