History

When did the united states go off of the gold standard?


2 Answers

First, under president Franklin D. Roosevelt, on June 5, 1933, Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. Then, president Richard Nixon, on August 15, 1971, suspended the convertibility of the U.S. Dollar into gold in international transactions.

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First, under president Franklin D. Roosevelt, on June 5, 1933, Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. Then, president Richard Nixon, on August 15, 1971, suspended the convertibility of the U.S. Dollar into gold in international transactions.

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