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05/06/1933 Roosevelt takes U.S. off gold standard

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What is the Gold Standard? - Learn Liberty

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2 A Brief History of US Money

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The Gold Standard Explained in One Minute

A congressional resolution abrogated gold clauses in all contracts, both government and private. Gold clauses guaranteed that contracts would be repaid in gold or in gold’s monetary equivalent, at the value set in 1900. A series of cases in the United States Supreme Court upheld the constitutionality of these actions.
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