Today in 1933 – The U.S. Congress abrogates the United States’ use of the gold standard by enacting a joint resolution (48 Stat. 112) nullifying the right of creditors to demand payment in gold. “This piece of paper is money. It’s worth something because we SAY it’s worth something, and if we need more, we’ll just print more.”
Today in 1965 – Showing America’s continued prominence in the realms of good taste in music, “Woolly Bully” by Sam the Sham & the Pharaohs hits #2 on the pop charts.