Domestic gold redemption ends
The U.S. suspended domestic gold payments and restricted monetary gold ownership. The transition away from gold happened in stages.
Read the sourceDEBT, PRICES & PURCHASING POWER
The long view.
What changed. What grew. What a dollar buys.
Explore the numbers across generations, with the context they deserve.
GROSS DEBT / 1960–2025
Put the scale in perspective.
Treasury · 1790–2025
—
1960$286.33B
2025$37.64T
NOMINAL DOLLARSGross debtMove across the chart to inspect
Fiscal-year-end gross debt. Fiscal year-end moved from June to September in 1976.
LATEST PRICE OBSERVATION
Inflation is a rate. Prices are a level.
Slower inflation means prices rise more slowly; it does not mean prices have fallen.
3.4%Year-over-year CPI-U · 2026-07
333.918Consumer price index · 1982–84 = 100
THE DOLLAR IN YOUR POCKETSame dollar.
Same dollar.
Different buying power.
Compare the cost of the same average basket of consumer goods and services. This measures domestic purchasing power, not a foreign-exchange rate.
Bureau of Labor Statistics · CPI-UYOU WOULD NEED APPROXIMATELY$774.70
in 2024 to match $100 in 1971.
87.1% less purchasing power per dollar · annual CPI averagesShow the calculation
$100 × (313.689 ÷ 40.492) = $774.70. Uses only complete years with 12 monthly observations. The source has no October 2025 observation, so 2025 is excluded.
CONTEXT CHANGES THE PICTURE
A timeline worth understanding.
Bretton Woods
A new international monetary arrangement linked currencies to the dollar, with official dollar convertibility into gold.
Read the sourceThe gold window closes
On August 15, President Nixon suspended dollar-to-gold convertibility for foreign monetary authorities. The decision changed the international system.
Read the sourceThe financial crisis
Recession, lower tax receipts, and fiscal responses affected the budget. Debt also reflects the gap between spending and revenue.
Read the sourceThe pandemic response
Emergency spending and economic disruption produced a sharp jump in federal borrowing. Compare the nominal, real, and GDP-relative views.
Read the sourceDoes the debt timeline prove that leaving gold caused later spending?
No. A timeline shows changes and timing, not a causal estimate. Spending and debt reflect policy choices, economic conditions, demographics, wars, interest costs and other factors. The end of dollar gold convertibility in 1971 is context, not proof of a single cause.
Source & context ↗