1971

All the pure gold had been secretly moved from Fort Knox, sold to international money changers for the $35 per ounce price, and is believed to now be kept in London. This is also when President Nixon repeals Roosevelt's Gold Reserve Act of 1934, allowing Americans to once again buy gold. As a result of this gold prices began to soar. In fact, 9 years later, in 1980, gold sold for $880 per ounce, a staggering 25 times what the gold in Fort Knox was sold to the international bankers for.