Overview#
Gold Standard is a money system in which the standard economic
unit of account is based on a fixed quantity of gold.
The Gold Standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold foreign central banks, effectively ending the Bretton Woods Conference.