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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
The United Kingdom slipped into a gold specie standard in 1717 by over-valuing gold at 15 + 1 ⁄ 5 times its weight in silver. It was unique among nations to use gold in conjunction with clipped, underweight silver shillings, addressed only before the end of the 18th century by the acceptance of gold proxies like token silver coins and banknotes.
The Gold Standard Act was an Act of the United States Congress, signed by President William McKinley and effective on March 14, 1900, defining the United States dollar by gold weight and requiring the United States Treasury to redeem, on demand and in gold coin only, paper currency the Act specified. [1]
The gold standard is a monetary system in which gold is used to guarantee the value of a country’s currency. It was a typical measure in the 20th century to ensure that a country’s money was ...
Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."
The Act was the beginning of an economic debate between gold and silver which lasted until the late 19th century, but the fundamental discussion about the role of fiduciary currency in the United States would only truly be resolved in 1970 when the U.S. dollar was removed from its peg to the gold standard.
The Specie Payment Resumption Act of January 14, 1875 was a law in the United States that restored the nation to the gold standard through the redemption of previously unbacked United States Notes [1] and reversed inflationary government policies promoted directly after the American Civil War.
The Bullion Committee was a British government committee set up in 1819 in order to research the possibility of putting Britain back onto the gold standard and how to carry it out. Sir Robert Peel was the chairman of the committee. He managed to put sterling on the gold standard two years earlier than