Search results
Results from the WOW.Com Content Network
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 15th August 1971 in response to increasing inflation. [1][2 ...
e. Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was the 37th president of the United States, serving from 1969 until his resignation in 1974. A member of the Republican Party, he previously served as a representative and senator from California and as the 36th vice president from 1953 to 1961 under President Dwight D. Eisenhower.
Thus the United States moved to a gold standard, making both gold and silver the legal-tender coinage of the United States, and guaranteed the dollar as convertible to 23.22 grains (1.50463 grams, 0.048375 troy ounces) of pure gold, or a little over $20.67 per ounce.
Gold certificates were used as paper currency in the United States from 1882 to 1933. These certificates were freely convertible into gold coins. A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the ...
t. e. On August 8, 1974, U.S. President Richard Nixon delivered a nationally-televised speech to the American public from the Oval Office announcing his intention to resign the presidency the following day due to the Watergate scandal. Nixon's resignation was the culmination of what he referred to in his speech as the "long and difficult period ...
The format dd.mm.yyyy using dots (which denote ordinal numbering) is the traditional German date format. [65] Since 1996-05-01, the international format yyyy-mm-dd has become the official standard date format, but the handwritten form d. mmmm yyyy is also accepted (see DIN 5008). Standardisation applies to all applications in the scope of the ...
Background. Instruments of monetary policy have included short-term interest rates and bank reserves through the monetary base. [1] With the creation of the Bank of England in 1694, which acquired the responsibility to print notes and back them with gold, the idea of monetary policy as independent of executive action began to be established. [2]
In traditional American usage, dates are written in the month–day–year order (e.g. November 12, 2024) with a comma before and after the year if it is not at the end of a sentence [2] and time in 12-hour notation (9:37 am). International date and time formats typically follow the ISO 8601 format (2024-11-12) for all-numeric dates, [3] write ...