Today in History – June 5 – US off gold standard

5 Jun

On this day in 1933 the US congress in an effort to get out of the Great Depression enacted a joint resolution nullifying the right of creditors to demand payment in gold, effectively moving the US monetary system off the gold standard, a system in which money is backed by gold. The US had been […]

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: