In 1971, Nixon unpegged the US dollar from gold, meaning the greenback was not convertible into bullion. This year is the anniversary of the change.
This year marks the 50th anniversary of the end of the gold standard in the U.S. In August 1971, President Richard Nixon formally unpegged the US dollar from gold, meaning the greenback was no longer convertible into bullion. Overnight, the dollar became a free-floating currency, measurable only by comparing it to other world currencies.
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