After establishing the federal bank in 1913, the Gold Standard was issued throughout many parts of the world including the US and Canada. The Gold Standard ensured that paper currency could be exchanged for a fixed amount of gold. However, this was not to last. By the early 1930's when the great depression took hold, the Gold Standard was completely abandoned in Canada. In 1971, President Richard Nixon removed the Gold Standard in the US.
was established in 1944 as a turning point for the monetary structures and exchange rate management of allies of the US. Most of the world's currencies were anchored to gold once more. The system collapsed when the US withdrew from the agreement by first devaluing how much gold can be exchanged for currency. The US then no longer accepted the convertibility of currency to gold in 1971 at the command of President Richard Nixon.
currency to become absolutely worthless. This system rose after the collapse of the Bretton-Woods System and has been used ever since worldwide. However, times are changing as people are beginning to realize that governments are committing the ultimate scam against their people.
governments have broken free of this and are already converting back to the use of gold as a means of exchange, abandoning the use of fiat currency entirely. In fact, in some places, it is punishable by law to use fiat currency like the US dollar as opposed to actual money with value behind it backed with gold.