Weird Websites

100 readers

1 users here now

for those weird and uncommon websites out there

founded 1 year ago

MODERATORS

[email protected]

WTF Happened In 1971? (wtfhappenedin1971.com)

submitted 1 year ago by [email protected] to c/[email protected]

10 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 1 year ago (11 children)

So what happened in the 1970s?

[–] [email protected] 3 points 1 year ago (8 children)

I'm going guess it had something to do with the US dollar becoming a fiat currency:

On 15 August 1971, the United States terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency. Shortly thereafter, many fixed currencies (such as the pound sterling) also became free-floating, and the subsequent era has been characterized by floating exchange rates. The end of Bretton Woods was formally ratified by the Jamaica Accords in 1976.