1971 ⟶ Nixon Shocks: US Dollar Abandonment of Gold Standard and Export of Inflation

Nixon shock removes gold back-up for the US Dollar triggerin...
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Year
1913
1958
1971
1994
2001
2007

🏦 Federal Reserve System Established

December 23: The Federal Reserve System is created.⟶
Federal Reserve System Established (1913)
BankingFinanceMonetary PolicyGreat DepressionEconomic History
United StatesUnited States

🍕 Pizza Hut Founded

May 31: Pizza Hut founded.⟶
Pizza Hut Founded (1958)
Food IndustryFast FoodEntrepreneurshipAmerican CultureCommercialization
United StatesUnited States

💰 Nixon Shocks: US Dollar Abandonment of Gold Standard and Export of Inflation

Nixon shock removes gold back-up for the US Dollar triggering export of inflation from rich to poor nations.⟶
Nixon Shocks: US Dollar Abandonment of Gold Standard and Export of Inflation (1971)
InflationInternational TradeGlobal EconomyRichard NixonFinancial CrisisMonetary Policy
United StatesUnited States

🛒 Amazon.com Founded

July 5: Amazon founded in Bellevue, Washington, by Jeff Bezos.⟶
Amazon.com Founded (1994)
E-commerceInternetRetailBusinessGlobalizationJeff BezosDot-com Bubble
United StatesUnited States

📉 Enron Declares Bankruptcy Amidst Scandal

December 3: Enron files for Chapter 11 bankruptcy after a series of scandals.⟶
Enron Declares Bankruptcy Amidst Scandal (2001)
BankruptcyFinancial CrisisEconomic Impact
United StatesUnited States

📉 Global Recession Triggered by Food Price Spike and Financial Crisis

Spike in food prices and subprime crisis help trigger global recession.⟶
Global Recession Triggered by Food Price Spike and Financial Crisis (2007)
RecessionFinancial CrisisGlobal EconomyEconomic DownturnGlobalizationMarket Volatility
United StatesUnited States