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Wow, what exactly happened then? Is there anymore I could read about it?
by wikidani 5y ago
Wow, what exactly happened then? Is there anymore I could read about it?
- captainredbeard 5y agohttps://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock
- captainredbeard 5y agoUS moved to fiat money and they started inflating us all to hell
- colanderman 5y agoArbitrary knees in exponentially-growing metrics lined up with the introduction of fiat currency due to carefully chosen Y-axis scales by someone who makes money when you invest in Bitcoin. (Some of those graphs -- especially the first one -- probably have interesting stories behind them, which may or may not relate to fiat currency. But all we get from that page is a Hayek quote structured to suggest he too would love Bitcoin so...)
- abecedarius 5y agoWell, Hayek did write a whole book in favor of private currencies... https://en.wikipedia.org/wiki/The_Denationalization_of_Money https://en.wikipedia.org/wiki/The_Denationalization_of_Money
- colanderman 5y agoFair enough.
- kilroy123 5y agoI highly recommend this video, it's long but well worth explaining what happened here: https://www.youtube.com/watch?v=1gEz__sMVaY&t=33s https://www.youtube.com/watch?v=1gEz__sMVaY&t=33s