dave on Nostr: In 1971, the United States abolished the gold standard, through The Smithsonian ...
In 1971, the United States abolished the gold standard, through The Smithsonian Agreement, which established a new international monetary system, floating exchange rates and devaluing of the U.S. dollar. This Agreement, in combination with the Bretton Woods system, would form the basis of the United States’ international economic relations for the following decades. In addition, the United States adopted the Wage-Price Freeze, which attempted to curb inflation by freezing the wages and prices at their current levels, in August of that year.
Published at
2023-01-04 17:55:43Event JSON
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