Roosevelt abandoned the gold standard in 1971 (actually 1933, but context suggests misstatement) because France was running on the bank demanding gold, draining US gold reserves at $35/oz, forcing Nixon off the standard
factualpending
Speaker
Lawrence McHenryEvidence Quote
“in 71 the French stopped trusting that we were going to give them their dollars at 35 give them their gold at $35 an ounce and so they said said hey you know what we don't want these dollars anymore give us those ounces and of course the ounces were flowing out the door so fast that Nixon oh hang on a second we're not going to do this anymore we're going off the gold standard”
Source
$200k Bitcoin, $4k Gold In 2025 As ‘Day Of Reckoning’ Comes For Stocks | Lawrence Lepard— David LinCreated: 8/11/2026, 6:22:49 AM
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