“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.”
“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 The ban with owning gold in the United States was repealed by an act of Congress codified in Public Law 93–373 that went into effect December 31, 1974.”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
-  Steve F. Forbes, “One Gold Ring He Won’t Grasp,” Forbes, December, 2008, 19–20.