This act was known as the Nixon Shock.

This became known as the Nixon Shock and marked the dollar's transition from the gold standard to a fiat currency.

This system ended with the Nixon Shock of 1971.

January 1973-The 1973-1974 stock market crash begins, as a result of inflation pressure, the Nixon Shock and the collapsing monetary system.

Unusually, this decision was made without consulting members of the international monetary system or even his own State Department, and was soon dubbed the Nixon Shock.

Since the 1971 Nixon Shock, debt creation and the creation of money increasingly took place at once.

This is consistent with the IMF's function change during the 1970s after the Nixon Shock ended the Bretton Woods system.

The Nixon Shock of 1971 ended the direct convertibility of the United States dollar to gold.

This system collapsed when the United States government ended the convertibility of the US dollar for gold in 1971, in what became known as the Nixon Shock.

In 1971, President Richard Nixon took a series of economic measures that collectively are known as the Nixon Shock.