Arthur F. Burns, Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, from a meeting at the world central Bank for International Settlements, Basel, Switzerland, announces that the two-tier pricing system for gold has been terminated.
NOTE: This marks the first time in world history that not a single paper currency (Bills of Credit) was valued in lawful Money (gold or silver Coin).
[restored 11/11/2022]
Subsequent Events:
References:
USGS – gold history & Significant Events
www.sharelynx.com/papers/goldHistory.php
November 13, 1973: U.S. Federal Reserve Board Chairman Burns announced that the U.S. and six European countries had terminated the two-tier gold agreement of March 1968 at a meeting of central bank officials in Basel, Switserland (source: The Britannica Archive) – Britannica Online Encyclopaedia
www.britannica.com/facts/10/40924543/November-13-1973-U-S-Federal-Reserve-Board-Chairman
http://minerals.usgs.gov/minerals/pubs/commodity/gold /300798.pdf
minerals.usgs.gov/minerals/pubs/commodity/gold/300798.pdf
Current U.s. National Debt:
