Final answer:
FDR removed the U.S. from the gold standard in 1933 as part of the Emergency Banking Act to combat the Great Depression by increasing the money supply and federal control over the economy. Nixon ended international gold conversion in 1971 to manage inflation and global competition, marking the end of the Bretton Woods system.
Step-by-step explanation:
President Franklin D. Roosevelt took the United States off the gold standard in 1933 to address the severe banking crisis during the Great Depression. The gold standard restricted the circulation of paper money and contributed to severe deflation, which exacerbated the economic downturn. Roosevelt's move to abandon the gold standard was part of the Emergency Banking Act of 1933, which intended to stabilize the banking system and increase the federal government's ability to inject liquidity into the economy. The act prohibited the hoarding of gold and required individuals to sell their gold to the U.S. Treasury, thus expanding the money supply and providing more flexibility to support economic recovery. While there was criticism that this decision would lead to inflation and diminish confidence in the dollar, it ultimately allowed for greater control over monetary policy during a time of economic distress.