By Stephen Zogopoulos | USNN World News | Opinion The 1940s – War, Sacrifice, and Unity The 1940s were defined by sacrifice, resolve, and a sense of shared destiny. World War II brought out the best of America’s patriotic spirit. Men left their families and farms to fight across Europe and the Pacific, while women […]
Tag: Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves.
