Francisco Javier Mesa-Martinez
lefa at ucsc.edu
Wed Jul 9 15:45:13 CDT 2003
On Wed, 9 Jul 2003, Patrick Giagnocavo +1.717.201.3366 wrote:
> > You meant the 20th century :), It was not until the "floating" dollar
> > under Nixon than the dollar was fully decoupled from the gold standard.
> Are you sure? The previously posted link claimed 1933 (FDR, not
> Nixon); perhaps you are referring to Bretton-Woods?
Bretton-Woods was in the mid 40's, that pretty much allowed the US to pump
dollars w/o devaluation and issue debt on the dollar since it was accpeted
to be the defacto transcaction currency for global markets. Nixon did sing
the order that cut the dollar from the "gold" standard in 1973 I believe,
hence I believe it was called the floating dollar.
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