The Nixon Shock actually directed the future of the Bretton Woods Agreement and the convertibility of U.S. dollars into gold. Nixon uncoupled gold from its set $35 price and stopped the convertibility of dollars into gold by alien governments and central banks.
The Nixon Shock actually directed the future of the Bretton Woods Agreement and the convertibility of U.S. dollars into gold. The Nixon Shock stood as the catalyst for the stagflation of the 1970s as the U.S. dollar depreciated.
Nixon uncoupled gold from its set $35 price and stopped the convertibility of dollars into gold by alien governments and central banks. At this moment, the dollar evolved virtually free-floating, estimated only by analogizing it to other order currencies.
Therefore, the correct answer is option C. It became part of a total fiat system
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