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  2. Nixon shock - Wikipedia

    en.wikipedia.org/wiki/Nixon_shock

    The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation. [1] [2]

  3. Smithsonian Agreement - Wikipedia

    en.wikipedia.org/wiki/Smithsonian_Agreement

    The drain on US gold reserves culminated with the London Gold Pool collapse in March 1968. [2] On August 15, 1971, US President Richard Nixon unilaterally suspended the convertibility of US dollars into gold. The United States had deliberately offered this convertibility in 1944; it was put into practice by the U.S. Treasury.

  4. Executive Order 6102 - Wikipedia

    en.wikipedia.org/wiki/Executive_Order_6102

    That valuation remained in effect until August 15, 1971, when President Richard Nixon announced that the US would no longer value the US dollar with a fixed amount of gold, thus abandoning the gold standard for foreign exchange (see Nixon Shock).

  5. What is the gold standard?

    www.aol.com/finance/gold-standard-120000813.html

    The gold standard is a monetary system in which gold is used to guarantee the value of a country’s currency. It was a typical measure in the 20th century to ensure that a country’s money was ...

  6. Gold standard - Wikipedia

    en.wikipedia.org/wiki/Gold_standard

    The United Kingdom slipped into a gold specie standard in 1717 by over-valuing gold at 15 + 1 ⁄ 5 times its weight in silver. It was unique among nations to use gold in conjunction with clipped, underweight silver shillings, addressed only before the end of the 18th century by the acceptance of gold proxies like token silver coins and banknotes.

  7. Gold Clause Cases - Wikipedia

    en.wikipedia.org/wiki/Gold_Clause_Cases

    This system continued until 1971 when President Richard Nixon, in what came to be known as the "Nixon Shock", announced that the United States would no longer convert dollars to gold at a fixed value even for foreign exchange purposes, thus abandoning the gold standard.

  8. Timeline of the history of the United States (1970–1989)

    en.wikipedia.org/wiki/Timeline_of_the_history_of...

    1971 – President Richard Nixon ends the United States Gold standard monetary policy, known as the Nixon Shock; 1971 – A ban on radio and television cigarette advertisements goes into effect in the United States; 1971 – The landmark situation comedy, All in the Family, premieres on CBS. 1971 – The 26th Amendment is ratified, allowing 18 ...

  9. John Connally - Wikipedia

    en.wikipedia.org/wiki/John_Connally

    In 1971, Republican President Richard Nixon appointed Connally as his treasury secretary. In this position, Connally presided over the removal of the United States dollar from the gold standard, an event known as the Nixon shock.