For 182 years – 1789 to 1971 – the United States embraced the principle of a “stable dollar,” which, in practice, meant a dollar linked to gold. Before 1933, the parity value was 1/20.67th of a troy ounce. From 1933 to 1971, it was 1/35th of an ounce. This was the “gold standard [...]
from http://ift.tt/1mcTiGt
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