1934: The Gold Reserve Act of 1934 gives the government the permanent title to all monetary gold and halts the minting of gold coins.
It also allows gold certificates to be held only by the Federal Reserve Banks, putting the U.S. on a limited gold bullion standard, under which redemption in gold is restricted to dollars held by foreign central banks and licensed private users.
President Roosevelt devalues the dollar by increasing the price of gold to $35 per ounce.
1933: To alleviate the banking panic, President Franklin D. Roosevelt prohibits private holdings of all gold coins, bullion and certificates.
1931: Great Britain abandons the gold bullion standard.
1929: Great Depression, Wall Street Crash. (more)
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