In 1971, then-president Richard Nixon ended the convertibility of dollars to gold, claiming the move was merely “temporary” in order to stop currency raiders from attacking the dollar. It was a lie, of course, and it was predicated on the fact that the United States government was printing far more currency than it had gold to exchange for it. Allowing other banks around the world to swap dollars for gold would have wiped out the gold stockpile possessed by the United States at that time. So Nixon had to end it.
Read more at: naturalnews.com