After the Smithsonian Agreement and the devalued dollar,it was even more prudent for the US to maintain a stock of gold for convertibility purposes.

Question

Quizplus · Accepted Answer

The Smithsonian Agreement in 1971 effectively ended the Bretton Woods system, making currencies float rather than being tied to gold, thus reducing the need for countries like the US to maintain large gold reserves for currency convertibility.

After the Smithsonian Agreement and the Devalued Dollar,it Was Even