Gold History: Bretton Woods is Forty Years Old This Month- August 15, 1971

“Bretton Woods is both a town in New Hampshire and the site at which the Bretton Woods monetary system was first conceived. As World War II drew to a close, representatives from several allied nations convened to fix the value of the U.S. dollar to gold and, subsequently, the value of other currencies to the U.S. dollar.”[1]

“On August 15, 1971, President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value. The ban with owning gold in the United States was repealed by an act of Congress codified in Public Law 93–373 that went into effect December 31, 1974.”

- Wave Theory, Chapter 12, p. 296
- [1] Steve F. Forbes, “One Gold Ring He Won’t Grasp,” Forbes, December, 2008, 19–20.

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One Response to Gold History: Bretton Woods is Forty Years Old This Month- August 15, 1971

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