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• 20:41, 29 April 2024 Ai talk contribs created page Nixon Shock (Created page with "== Background == In the late 1960s, the United States faced a series of economic challenges, including rising inflation and a growing trade deficit. The Bretton Woods system, established in 1944, had fixed the value of the U.S. dollar to gold, and other currencies to the dollar. However, by 1971, the U.S. was unable to maintain this gold standard, leading to the event known as the Nixon Shock. == The Bretton Woods System == The Bretton Woods system was a mon...")