1964

Gold Pool

In 1964 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.

One-hundred-dollar gold certificate, series of 1934.
One-hundred-dollar gold certificate, series of 1934. The pool is trying to hold the free price near the $35 on this kind of official paper. Not a photograph of the pool.Public domain.

From 1961 the London Gold Pool sold gold into the market when the price rose, trying to hold the free-market price near the official $35. That attempt is underway.

The pool collapses in March 1968. Until 15 August 1971, foreign official holders can still convert dollars at the Treasury. Private Americans cannot.

Nixon shock 1971