What did it mean when Nixon took the country off the Gold Standard?

Question

What changed and was it good or bad?

Answer 1

It meant we could no longer collect Green Stamps from the grocery store

Answer 2

It was bad because it was an indication of our nation's inability to meet its financial obligations to other countries.  Now money can and is created out of thin air with nothing backing it but the word of private bankers known as the Federal Reserve.  If you have time to spare here is a link to a compilation of very informative videos that covers that issue and much more.  It's worth your time to watch them all.

http://www.chrismartenson.com/crashcours...