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The U.S. Dollar Hasn't Been Linked to Gold for 45 Years. Here's Why

time.com
It was 45 years ago, on August 15, 1971, when President Richard Nixon announced that the decades-old monetary system that had controlled the U.S. dollar - and thus the world's currency values - for more than three decades just wasn't working anymore. To most Americans the news, known as the "Nixon shock," wasn't actually shocking.

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