Western-Central Lower Michigan | redoak - 4/14/2024 06:41
I remember going from the Gold standard as countries currency was tied XX $$ an ounce
Iirc USD = 1 ounce gold
I don't recall the effects of President Nixon changing that. Just finishing HS then . Pretty turbulent times in '70's
Well, Im not old enough to remember "gold being tied to the USD" but the $20 gold coin (I am pretty sure) is 1oz. So back in the day, the country moved to silver, there were these large (real silver dollars) that were replaced by paper $1 dollar bills. Dont know how much one of the real silver dollars weighs, but I think at that time thats how they had connected our currency to precious metals. Obviously we arent connected to anything but the Federal Reserve's guarantee anymore, (what ever that is worth) |
Do Ag. schools reach much history ?
