4 ms·
The article fails to mention that though the US came off the (fixed) gold standard, convertability of the US$ to gold was retained as part of the Bretton-Woods
by drucken 14y ago
The article fails to mention that though the US came off the (fixed) gold standard, convertability of the US$ to gold was retained as part of the Bretton-Woods system all the way through WWII, through the post-war "Golden Age of Capitalism" period uptil 15 August 1971 when Nixon unilaterally turned the US dollar into a fiat currency.