US leaves gold standard

Gold reserve limits the amount of money printed.

Witout gold backing - No limit on fiat currency

Yankee Greenback dollar

They stole the gold.

(No gold coins)

Then they stole the silver.

(No silver coins)

c 2020 No coins at all

The U.S. came off the gold standard for domestic transactions in 1933

and ended international conv ertibility of the dollar to gold in 1971.

On June 5, 1933, the United States went off the gold standard,

a monetary system in which currency is backed by gold,

when Congress enacted a joint resolution nullifying the right of creditors

to demand payment in gold.

The United States had been on a gold standard since 1879,

On April 5, 1933,

Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money.

It required all persons to deliver all gold coin,

gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce.

In 1934, the government price of gold was increased to $35 per ounce,

In 1974, President Gerald Ford signed legislation that permitted Americans again to own gold bullion.

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