U.S. dollar–gold convertibility and official reserve policy (1945–1971)

1. Gold Reserve Act sets $35 gold price

   Jan 30, 1934Labels: Gold Reserve, Franklin D, U S

   • FedHistory
   • Treasury ESF

2. Bretton Woods Conference drafts new monetary order

   Jul 22, 1944Labels: Bretton Woods, International Monetary, World Bank

   • World Bank
   • IMF Timeline

3. Bretton Woods Agreements Act makes ESF permanent

   Jul 31, 1945Labels: Bretton Woods, Exchange Stabilization, U S

   • Treasury ESF
   • Treasury ESF

4. IMF Articles enter into force

   Dec 27, 1945Labels: IMF Articles, International Monetary

   • IMF Articles
   • World Bank

5. IMF begins financial operations

   Mar 1, 1947Labels: IMF, Financial operations

   • IMF Timeline
   • IMF Chronology

6. U.S. highlights balance-of-payments pressures

   Mar 10, 1960Labels: Dwight D, U S

   • Presidency
   • State Dept

7. Triffin warns about dollar–gold convertibility

   Jan 1, 1961Labels: Robert Triffin, Triffin dilemma

   • Open Library
   • ForeignAffairs

8. Treasury restarts exchange-market intervention

   Mar 1, 1961Labels: Exchange Stabilization, U S

   • Treasury ESF
   • Treasury ESF

9. IMF creates General Arrangements to Borrow

   Jan 5, 1962Labels: General Arrangements, IMF

   • IMF GAB
   • IMF Chronology

10. London Gold Pool collapses under market pressure

    Mar 1, 1968Labels: London Gold, Central banks

    • Britannica
    • World Gold

11. Two-tier gold system separates official and private markets

    Mar 17, 1968Labels: Two-tier gold, Monetary authorities

    • Britannica
    • World Gold

12. First IMF Amendment establishes Special Drawing Rights

    Jul 28, 1969Labels: First IMF, Special Drawing

    • IMF Chronology
    • IMF Articles

13. First SDR allocations add reserves to the system

    Jan 1, 1970Labels: SDR allocations, International Monetary

    • PMC
    • IMF F D

14. Treasury ends official gold transactions with authorities

    Aug 1, 1971Labels: U S, Official gold

    • Treasury ESF
    • FedHistory

15. Nixon suspends dollar–gold convertibility

    Aug 15, 1971Labels: Richard Nixon, Gold window

    • FedHistory
    • Time

16. Smithsonian Agreement resets parities without restoring gold convertibility

    Dec 18, 1971Labels: Smithsonian Agreement, Group of

    • FedHistory
    • FRASER