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choxi | 1 year ago
> On 15 August 1971, the United States ended the convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency
choxi | 1 year ago
> On 15 August 1971, the United States ended the convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency
JumpCrisscross|1 year ago
The dollar was convertible into gold at a fixed rate. We still printed more dollars than there was gold.