The United States abandoned the gold standard in 1971.
Posted by Bannon`s War Room, Checked
- Sources
- 2 contradict3 support
- Said
- 1 time·
- Confidence
- 60%
Bannon`s War RoomJul 27, 2026
The 1971 date is well supported as the point when the dollar's convertibility to gold ended under Nixon, which Reuters, Investopedia, the Library of Congress and the St. Louis Fed all cite as effectively ending the gold standard. However, the St. Louis Fed and CRS sources also say the U.S.
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What was said
… We wouldn't be celebrating America 250 if it wasn't for a strong foundation set by the framers. Hamilton built America's financial foundation on the principle of sound, stable money, a principle later embodied by the gold standard. However, we abandoned that discipline in 1971 and have since seen inflation erode the dollar's value. What is the foundation of your savings? It is gold, or something that can be shaken, disrupted, or devalued? Birch Gold Group has been helping Americans solidify their savings with gold for the past 15 years. …
Bannon`s War Room · · from the transcriptPost →What we found
Contradicts. The St. Louis Fed and CRS report that the U.S. left the gold standard for domestic transactions in 1933, with the 1971 date marking the end of international convertibility, so the 1971 date holds only under the international-convertibility measure.[2][4]
Supports. Reuters' factbox dates Nixon taking the dollar off the gold standard to August 1971.[1]
Supports. Investopedia and the Library of Congress banking guide both state that the U.S. abandoned or ended the gold standard in 1971, and the St. Louis Fed says international convertibility ended in 1971 under Nixon, 'effectively ending the gold standard.'[3][4][5]
Context. CRS says the U.S. abandoned its commitment to convert dollars into gold in official transactions over 1967–1973, and all official links to gold were severed in 1976.[2]
Sources
5 sources: 1 fact-checker, 2 primary, 2 not rated
- 1Factbox: Gold milestones after record highs, historic sell-offreuters.com · fact-checker · cited for: supports
- 2Brief History of the Gold Standard in the United States - Congress.govcongress.gov · primary source · cited for: contradicts, context
- 3The Currency Question - Banking History: Central Banking and ...guides.loc.gov · primary source · cited for: supports
- 4Here’s Why the U.S. No Longer Follows a Gold Standardstlouisfed.org · not rated · cited for: contradicts, supports
- 5Understanding the Gold Standard: History, Collapse, and ...investopedia.com · not rated · cited for: supports
Where this claim was made
Said in 1 published post
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