Gold Standard Historical Moments

Keynes Celebrates the End of the Gold Standard

Enjoy one of the very few video footage of John Maynard Keynes as he discusses the positive implications the end of the Gold Standard would have on Great Britain.  … Read more

FDR's First Fireside Chat: The Banking Crisis

FDR's first fireside chat taking us off the domestic gold standard, the logical bookend to Nixon taking us off the international gold standard.  … Read more

1944 Bretton Woods International Monetary Conference

The international monetary conference of 1944 was held at the Mount Washington Hotel in Bretton Woods, New Hampshire. The conference founded the International Monetary Fund (IMF) and the World Bank. The fixed exchange rate system created at the conference came under increasing strain in the 1960s and was ended unilaterally by President Nixon in 1971.  … Read more

Nixon Ends Bretton Woods International Monetary System

President Nixon announced a dramatic change in monetary policy. Nixon ends the Bretton Woods International monetary system with the gold standard.

I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interest of the United States. —President Nixon, August 15, 1971
 … Read more

Franklin D. Roosevelt Ends Gold Standard in 1933

Franklin D. Roosevelt effectively abandoned the gold standard after Herbert Hoover’s presidency, when the gold standard was the basis of the US currency.

Our international trade relations though vastly important are secondary to the establishment of a sound national economy. —FDR, 1933
Franklin D Roosevelt acted on this pledge and abandoned the gold standard six weeks later on April 19, 1933.    … Read more
 

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

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