This blog is dedicated to my mom.
You are correct, the US is no longer on the gold standard. President Nixon took the nation off the gold standard in 1971.
Thank you! We actually were arguing whether we were on the silver standard or not, I think related to Wizard of Oz. Were we ever on the silver standard, o knowledgeable wizard?
The US was on a silver standard following the end of the Revolutionary War until the Civil War, at which point it was suspended. There were attempts to bring the silver standard back after that, but none were very successful and in 1900 the US formally adopted the gold standard.
Wow, thanks, mysterious anonymous! You are very helpful!
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