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Há 8 horas · It has been almost a century since Britain and the U.S. started abandoning domestic promises of gold convertibility. When President Richard Nixon abandoned even the Bretton Woods system’s limited dollar to gold peg in 1971, he finished the job, taking the world to a fiat money system. 3.
Há 8 horas · After the Second World War, a system similar to a gold standard and sometimes described as a "gold exchange standard" was established by the Bretton Woods Agreements. Under this system, many countries fixed their exchange rates relative to the U.S. dollar and central banks could exchange dollar holdings into gold at the official exchange rate of $35 per ounce; this option was not available to ...
