The Gold Standard

From 19 forty four to 19 sevnty one, there was this quasi gold standard where every other country would redeem their currencies for dollars. Gold was outlawed in bullion form a. The united states had this exorbitant privilege where everybody needed their dollars specific because it was at the center of this bretonwood system. We were able to take even more advantage of this than every other country. And eventually we started losing all the gold. It's literally leaving the country because it's being redeemed. So nixon had to step in. In 19 71, what happened was he was left with bad auptions on every single side. He said, this and that temporarily, a as