The US Dollar Hasn't Been Linked to Gold for 45 Years. Here's Why - TIME

TIME

The US Dollar Hasn't Been Linked to Gold for 45 Years. Here's Why TIME Washington cut the dollar's tie to gold by serving notice that it will no longer cash in foreign-held dollars for gold bullion held at Fort Knox. Ever since 1944, when the present monetary system was devised at Bretton Woods, N.H., the dollar has had a ... and more »