The event that essentially led to the end of the Bretton Woods system was

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The U.S. government's declaration in 1971 that it would no longer buy and sell gold from or to foreign central banks in exchange for dollars essentially ended the Bretton Woods system. The system was based on a fixed exchange rate system with the U.S. dollar tied to gold at a fixed rate, but the U.S. government's decision to abandon this link effectively ended the system.

The Event That Essentially Led to the End of the Bretton