Gold standard
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A gold standard is a monetary system in which the standard economic unit of account is defined by a fixed quantity of gold. The gold standard was the basis for the international monetary system from t
Gold certificates were used as paper currency in the United States from 1882 to 1933. These certificates were freely convertible into gold coins.
The British gold sovereign or £1 coin was the preeminent circulating gold coin during the classical gold standard period.
Huge quantities of $20 double eagles were minted as a result of the California gold rush.
Russian ruble note of 1898, with text saying it is worth 17.424 dolya (0.7742 grams) of gold
Nixon shock
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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
Gold standard
…balance of payments deficits, led U.S. President Richard Nixon to end international convertibility of the U.S. dollar to gold on August 15, 1971 (the "Nixon Shock"). This was meant to be a temporary measure, with the gold price of the dollar and the official rate of exchange remaining constant. Revaluing currencies…
Richard Nixon in 1971
U.S. Treasury Secretary John Connally, photographed on the day Nixon's policies were announced, was the primary political force behind them.