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When Roosevelt Ditched the Gold Standard

To bring the economy out of the Great Depression, President Franklin D. Roosevelt took the U.S. off the gold standard in 1933. 

As the U.S. banking crisis ebbed in early 1933, central-bank gold reserves were rising, and gold-based currency notes were steadily flowing back into accounts. The country was experiencing a positive balance of trade.

"Not one of the conditions usually attendant to a suspension of gold payments was present at the time," the Economist magazine would write in May.