Why did Richard Nixon replace the gold standard with fiat currency in the
early 1970s?

President Richard Nixon's actions in 1971 to end dollar convertibility to gold and implement wage/price controls were intended to address the international dilemma of a looming gold run and the domestic problem of inflation.

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danielwall700 danielwall700 · Answer 2 · 2021-10-12T17:40:29+02:00

danielwall700 danielwall700

12-10-2021

Answer:

"to address the international dilemma of a looming gold run and the domestic problem of inflation."

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Why did Richard Nixon replace the gold standard with fiat currency in the early 1970s?

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Why did Richard Nixon replace the gold standard with fiat currency in the
early 1970s?