The rise of the dollar-gold standard in 1971 reflected the decline of America's preeminent financial position.

Question

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The end of the dollar-gold standard in 1971, marked by President Nixon's decision to suspend the convertibility of the dollar into gold, reflected challenges to America's financial position, not the rise of a dollar-gold standard. This move effectively ended the Bretton Woods system and led to the transition towards a system of fiat currencies.

The Rise of the Dollar-Gold Standard in 1971 Reflected the Decline