The|Coinologist.

Always Buying Coins, Currency, and Cool Stuff.

U.S. Exits Gold Standard | 40 Year Anniversary

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Forty years ago this week, then President Richard Nixon removed the United States from the Gold Standard.  On August 15th, 1971, gold was $35.00 per ounce.  It now hovers just under $1800 an ounce.  I am no economist but I would have to say that this move has not taken us in the right direction, in just 40 years for that matter. This seems to be such a short period of time, compared to our 235 years of existence.  At any rate, I thought you might like to view the actual footage of the President making his address to the country.

Written by Robert L. Wilson

August 17, 2011 at 8:15 am

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