In 1971, one televised speech ended the gold standard for good

For decades, foreign governments could exchange US dollars for gold at a fixed rate under the Bretton Woods system. On 15 August 1971, President Nixon announced the US would suspend that convertibility, effectively cutting the dollar loose from gold entirely. The move, later dubbed the 'Nixon Shock', still underpins the floating-currency system the world uses today.

— Nixon administration, Nixon Shock — Televised address, 15 August 1971