Understanding the Gold Standard

Podcasts > Johnny On The Spot

CMI Gold & Silver has been a pioneer in the precious metals industry since 1973. Part-owners Johnny and Shannon Estes discuss all things precious metals market in a fun and interesting way. Discover market insights, investment tips, and fascinating facts about the world of precious metals.

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Saturday, October 18, 2025

Life after gold: Did you know that the US dollar was once tied to gold until it wasn't? Gold has been used as currency since humanity first discovered its lustrious power. So, why did the US and other countries abandon the connection of the dollar to gold? In this episode of CMI Gold & Silver Johnny on the Spot, Johnny and Shannon break down what happened to our monetary connection to gold and decode the consequences of abandoning it. Learn about Franklin D. Roosevelt's role in ending the gold standard, the meeting at Bretton Woods, and how the "Nixon Shock" in the 70s ended it all.