--- title: "Meaning & Key Takeaway of: When the dollar was separated entirely…" description: "\"When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currenc..." image: "https://sms4smile.com/quotes/i/1fc/g-edward-griffin-9084_dollar_when-the-dollar-was-separated-entirely-f_2926264.jpg" --- # When the dollar was separated entirely from gold in 1971… ![“When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies... From that point forward, its value increasingly became discounted.” quote by G. Edward Griffin](https://sms4smile.com/quotes/i/1fc/g-edward-griffin-9084_dollar_when-the-dollar-was-separated-entirely-f_2926264.jpg) [Download](https://sms4smile.com/quotes/i/1fc/g-edward-griffin-9084_dollar_when-the-dollar-was-separated-entirely-f_2926264.jpg) [Open image](https://sms4smile.com/quotes/i/1fc/g-edward-griffin-9084_dollar_when-the-dollar-was-separated-entirely-f_2926264.jpg) > “When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies... From that point forward, its value increasingly became discounted.” [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Detaching the dollar from gold led to its devaluation and competition with other currencies. **In simple terms:** Leaving gold hurt the dollar. Key Takeaway Consider monetary foundations. Themes economics currency gold standard Mood analytical critical Type economic historical When to use this quote - investment - policy - global trade Key Concepts finance history Questions to Reflect On - Is a gold-backed currency better? - How does fiat affect inflation? A Different Perspective Gold can provide stability but also limits flexibility. ★ ★ ★ ★ ★ No ratings yet [Currency Finally](https://sms4smile.com/quotes/about/currency-finally-4289819/) [Dollar](https://sms4smile.com/quotes/about/dollar/) [Dollar Separated](https://sms4smile.com/quotes/about/dollar-separated-4289817/) [Forward](https://sms4smile.com/quotes/about/forward/) [Gold](https://sms4smile.com/quotes/about/gold/) [Imf World](https://sms4smile.com/quotes/about/imf-world-1570618/) [Official Imf](https://sms4smile.com/quotes/about/official-imf-4289818/) [Value](https://sms4smile.com/quotes/about/value/) [World](https://sms4smile.com/quotes/about/world/) [World Currency](https://sms4smile.com/quotes/about/world-currency-3283819/) ## Related quotes > [The currency bill we have would finally do something for China's rapacious policies.](https://sms4smile.com/quotes/charles-schumer/the-currency-bill-we-have-would-finally-do-something-for-china-s/) [Charles Schumer](https://sms4smile.com/quotes/author/charles-schumer/) > [The Debasement of World Currency:It Is Inflation, But Not As We Know It](https://sms4smile.com/quotes/chris-powell/the-debasement-of-world-currency-it-is-inflation-but-not-as-we-know-it/) [Chris Powell](https://sms4smile.com/quotes/author/chris-powell/) > [Paul Krugman, a professor at MIT and a consultant to the IMF, the World Bank, the United Nations, and the Trilateral Commission, is certainly…](https://sms4smile.com/quotes/paul-craig-roberts/paul-krugman-a-professor-at-mit-and-a-consultant-to-the-imf-the-world/) [Paul Craig Roberts](https://sms4smile.com/quotes/author/paul-craig-roberts/) > [I do wish that the IMF and the World Bank would disappear soon.](https://sms4smile.com/quotes/hugo-chavez/i-do-wish-that-the-imf-and-the-world-bank-would-disappear-soon/) [Hugo Chavez](https://sms4smile.com/quotes/author/hugo-chavez/) > [“I became convinced that the advanced industrial countries, through international organizations like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the…](https://sms4smile.com/quotes/joseph-e-stiglitz/i-became-convinced-that-the-advanced-industrial-countries-through/) [Joseph E. 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After all, they've turned it into a billion dollar industry…](https://sms4smile.com/quotes/steven-crowder/tinseltown-really-likes-to-think-that-they-have-a-handle-on-all/) [Steven Crowder](https://sms4smile.com/quotes/author/steven-crowder/) > [America is the country where you can buy a lifetime supply of aspirin For one dollar and use it up in two weeks.](https://sms4smile.com/quotes/john-barrymore/america-is-the-country-where-you-can-buy-a-lifetime-supply-of-aspirin/) [John Barrymore](https://sms4smile.com/quotes/author/john-barrymore/) > [The more competitive value of the dollar turned around the trade deficit.](https://sms4smile.com/quotes/martin-feldstein/the-more-competitive-value-of-the-dollar-turned-around-the-trade/) [Martin Feldstein](https://sms4smile.com/quotes/author/martin-feldstein/) > [If I had a dollar for every time you've fucked me over, I'd move far, far away from you, and never see you again.](https://sms4smile.com/quotes/jesse-reitz/if-i-had-a-dollar-for-every-time-you-ve-fucked-me-over-i-d-move-far/) [Jesse Reitz](https://sms4smile.com/quotes/author/jesse-reitz/) > [Single as a dollar and not looking for change.](https://sms4smile.com/quotes/anonymous/single-as-a-dollar-and-not-looking-for-change/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [It's a great story for us whenever an entrepreneur makes a crazy amount of money and we get to tell the world about it.…](https://sms4smile.com/quotes/sarah-lacy/it-s-a-great-story-for-us-whenever-an-entrepreneur-makes-a-crazy/) [Sarah Lacy](https://sms4smile.com/quotes/author/sarah-lacy/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [I love being in Malibu. It's so cool there, and the water is just, it's nice and, and I love the beach. And I…](https://sms4smile.com/quotes/jackie-evancho/i-love-being-in-malibu-it-s-so-cool-there-and-the-water-is-just-it-s/) [Jackie Evancho](https://sms4smile.com/quotes/author/jackie-evancho/) ## More by G. Edward Griffin > [When governments claim to derive their authority from any source other than the governed, it always leads to the destruction of liberty.](https://sms4smile.com/quotes/g-edward-griffin/when-governments-claim-to-derive-their-authority-from-any-source/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [The timid and fearful cannot defend liberty -- or anything else.](https://sms4smile.com/quotes/g-edward-griffin/the-timid-and-fearful-cannot-defend-liberty-or-anything-else/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [The jury had never been allowed to see any evidence that Laetrile actually worked. (Yes Virginia, they can bury medical breakthroughs in court this…](https://sms4smile.com/quotes/g-edward-griffin/the-jury-had-never-been-allowed-to-see-any-evidence-that-laetrile/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [Secondly, as a result of this political favoritism, the FDA has become a primary factor in that formula whereby cartel-oriented companies in the food…](https://sms4smile.com/quotes/g-edward-griffin/secondly-as-a-result-of-this-political-favoritism-the-fda-has-become/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [To cover the fact that a central bank is merely a cartel which has been legalized, its proponents had to lay down a thick…](https://sms4smile.com/quotes/g-edward-griffin/to-cover-the-fact-that-a-central-bank-is-merely-a-cartel-which-has/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [“PROPER ROLE OF THE STATE I believe that the proper role of the state is negative, not positive; defensive, not aggressive. It is to…](https://sms4smile.com/quotes/g-edward-griffin/proper-role-of-the-state-i-believe-that-the-proper-role-of-the-state/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [The information that follows is taken primarily...from government hearings and reports published from various Senate and House committees.](https://sms4smile.com/quotes/g-edward-griffin/the-information-that-follows-is-taken-primarily-from-government/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [“The accepted version of history is that the Federal Reserve was created to stabilize our economy. One of the most widely-used textbooks on this…](https://sms4smile.com/quotes/g-edward-griffin/the-accepted-version-of-history-is-that-the-federal-reserve-was/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [The nation's first experiment with the income tax was tried at this time; another violation of the Constitution.](https://sms4smile.com/quotes/g-edward-griffin/the-nation-s-first-experiment-with-the-income-tax-was-tried-at-this/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [Error is better than apathy. Error can be corrected in time to change the outcome. Apathy is seldom corrected until it is too late.](https://sms4smile.com/quotes/g-edward-griffin/error-is-better-than-apathy-error-can-be-corrected-in-time-to-change/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [There is simply no limitation on the realistic power of the U.N. over us.](https://sms4smile.com/quotes/g-edward-griffin/there-is-simply-no-limitation-on-the-realistic-power-of-the-u-n-over/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [If Lincoln's primary goal in the War was not the abolition of slavery but simply to preserve the Union, the question arises: Why did…](https://sms4smile.com/quotes/g-edward-griffin/if-lincoln-s-primary-goal-in-the-war-was-not-the-abolition-of-slavery/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [Whenever a partnership is formed, there has to be a benefit to the partners; otherwise, they don't form it.](https://sms4smile.com/quotes/g-edward-griffin/whenever-a-partnership-is-formed-there-has-to-be-a-benefit-to-the/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [No one in America fully understands the constantly changing Internal Revenue Code. Agents of the IRS do not, judges do not, congressmen do not,…](https://sms4smile.com/quotes/g-edward-griffin/no-one-in-america-fully-understands-the-constantly-changing-internal/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) > [The European powers had been anxious to see the United States become embroiled in a civil war and eventually break into two smaller and…](https://sms4smile.com/quotes/g-edward-griffin/the-european-powers-had-been-anxious-to-see-the-united-states-become/) [G. Edward Griffin](https://sms4smile.com/quotes/author/g-edward-griffin/) [Explore all 75 G. Edward Griffin quotes ](https://sms4smile.com/quotes/author/g-edward-griffin/) ## More Dollar quotes > [I love being in Malibu. It's so cool there, and the water is just, it's nice and, and I love the beach. And I…](https://sms4smile.com/quotes/jackie-evancho/i-love-being-in-malibu-it-s-so-cool-there-and-the-water-is-just-it-s/) [Jackie Evancho](https://sms4smile.com/quotes/author/jackie-evancho/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [It's a great story for us whenever an entrepreneur makes a crazy amount of money and we get to tell the world about it.…](https://sms4smile.com/quotes/sarah-lacy/it-s-a-great-story-for-us-whenever-an-entrepreneur-makes-a-crazy/) [Sarah Lacy](https://sms4smile.com/quotes/author/sarah-lacy/) > [Single as a dollar and not looking for change.](https://sms4smile.com/quotes/anonymous/single-as-a-dollar-and-not-looking-for-change/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [If I had a dollar for every time you've fucked me over, I'd move far, far away from you, and never see you again.](https://sms4smile.com/quotes/jesse-reitz/if-i-had-a-dollar-for-every-time-you-ve-fucked-me-over-i-d-move-far/) [Jesse Reitz](https://sms4smile.com/quotes/author/jesse-reitz/) > [The more competitive value of the dollar turned around the trade deficit.](https://sms4smile.com/quotes/martin-feldstein/the-more-competitive-value-of-the-dollar-turned-around-the-trade/) [Martin Feldstein](https://sms4smile.com/quotes/author/martin-feldstein/) > [America is the country where you can buy a lifetime supply of aspirin For one dollar and use it up in two weeks.](https://sms4smile.com/quotes/john-barrymore/america-is-the-country-where-you-can-buy-a-lifetime-supply-of-aspirin/) [John Barrymore](https://sms4smile.com/quotes/author/john-barrymore/) > [Tinseltown really likes to think that they have a handle on all things 'love.' After all, they've turned it into a billion dollar industry…](https://sms4smile.com/quotes/steven-crowder/tinseltown-really-likes-to-think-that-they-have-a-handle-on-all/) [Steven Crowder](https://sms4smile.com/quotes/author/steven-crowder/) > [Again, a franchise to me doesn't have to be a billion dollar title.](https://sms4smile.com/quotes/david-fincher/again-a-franchise-to-me-doesn-t-have-to-be-a-billion-dollar-title/) [David Fincher](https://sms4smile.com/quotes/author/david-fincher/) > [Investors like to hear that you're in a multi-billion dollar market.](https://sms4smile.com/quotes/michael-seibel/investors-like-to-hear-that-you-re-in-a-multi-billion-dollar-market/) [Michael Seibel](https://sms4smile.com/quotes/author/michael-seibel/) > [That's how the Pell Grant system works, in that you get a flat dollar amount, and you can use it for tuition or room…](https://sms4smile.com/quotes/brian-schatz/that-s-how-the-pell-grant-system-works-in-that-you-get-a-flat-dollar/) [Brian Schatz](https://sms4smile.com/quotes/author/brian-schatz/) > [I recognize that Republicans see a moral difference between a dollar taken away from a millionaire in government benefits and a dollar taken away…](https://sms4smile.com/quotes/timothy-noah/i-recognize-that-republicans-see-a-moral-difference-between-a-dollar/) [Timothy Noah](https://sms4smile.com/quotes/author/timothy-noah/) > [The value of a dollar is to buy just things; a dollar goes on increasing in value with all the genius and all the…](https://sms4smile.com/quotes/ralph-waldo-emerson/the-value-of-a-dollar-is-to-buy-just-things-a-dollar-goes-on/) [Ralph Waldo Emerson](https://sms4smile.com/quotes/author/ralph-waldo-emerson/) > [As treasury secretary, I don't see it as my role commenting on the dollar in short-term movements.](https://sms4smile.com/quotes/steve-mnuchin/as-treasury-secretary-i-don-t-see-it-as-my-role-commenting-on-the/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [The fear is that if the dollar falls below 50% of the currency basket held by commercial and central banks and insurance companies, there…](https://sms4smile.com/quotes/porter-stansberry/the-fear-is-that-if-the-dollar-falls-below-50-of-the-currency-basket/) [Porter Stansberry](https://sms4smile.com/quotes/author/porter-stansberry/) [Browse all 527 Dollar quotes ](https://sms4smile.com/quotes/about/dollar/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies... 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