What Happened to the Gold?
Before the Nixon presidency, the U.S. dollar was backed by gold or silver. A bill was worth a certain amount of either gold or silver. Then Nixon changed all that and ended the gold standard making it so that the dollar could not be exchanged for gold. So what happened to all the gold and silver that was being stored by those banks? Did they just get free wealth? Any information about this would be greatly appreciated thank you.
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