Having said that, in 1971 President Richard Nixon opted to eliminate the convertibility of pounds into gold. During the sixties, the share of US export output lessened and so did the necessity for international countries to carry dollars. And that they had an incentive to dump them as additional bucks https://erickzuivh.madmouseblog.com/14362906/the-smart-trick-of-precious-metals-investment-firms-that-no-one-is-discussing