That was really the crucial time in history, when USA government took under control all money of the country. By the way, not so long ago all banks had gold reserves. That was considered very prestigious for the country to have gold reserve, like they have something stable and for me that always sounded like paper money are back by gold but not just officially printed paper sheets. Unfortunately that has changed. Gold reserves vanished somewhere from national treasuries of many countries. History, of course, conceals where everything had vanished.