The Nixon Shock (1971) was one of the most transformative events in modern economic history, marking the beginning of the end of the Bretton Woods monetary system. On 15 August 1971, US President Richard Nixon announced a series of economic measures, including the suspension of the US dollar’s convertibility into gold, a temporary import surcharge,Continue reading “Nixon Shock (1971): End of Bretton Woods, Gold Standard, Floating Exchange Rates & Global Economy”