US Leaves the Gold Standard: Congress Ends the Dollar's Metal Backing
Congress enacted a joint resolution that stripped creditors of their right to demand gold payments, effectively severing the dollar's link to precious metal reserves. This move forced the U.S. economy to operate on fiat currency, granting the government unprecedented flexibility to devalue the dollar and stimulate recovery during the Great Depression.
June 5, 1933
93 years ago
Key Figures & Places
What Else Happened on June 5
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