The ‘Nixon Shock’ of 1971 ended the gold standard, detaching the U.S. dollar from gold. Since then, money has been fiat currencybacked only by trust in governments.
World economy charts, business frameworks and diagrams
World economy charts, business frameworks and diagrams
The ‘Nixon Shock’ of 1971 ended the gold standard, detaching the U.S. dollar from gold. Since then, money has been fiat currencybacked only by trust in governments.