Nixon shock
1971 decoupling of the US dollar from gold
The Nixon shock was a series of economic measures done by United States President Richard Nixon in 1971, in response to increasing inflation. He froze wage and price. He also directed the cancellation of the direct international convertibility of the United States dollar to gold.[1]
References
change- ↑ Lewis, Paul (15 August 1976). "Nixon's Economic Policies Return to Haunt the G. O. P." The New York Times. Retrieved 25 March 2019.
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