4 ms·
The last point you made about cryptocurrencies fleecing others bit built with intent to prevent market distortion is dead on. People getting into crypto in fra
by _57jb 5y ago
The last point you made about cryptocurrencies fleecing others bit built with intent to prevent market distortion is dead on.
People getting into crypto in fratboy style have gone on the rollercoaster and often are pushing it to their desires.
In the history of money (I'm talking U.S. at this point but other countries have their story) this carpet bagging happened earlier on... we've just been using it long enough that the story was forgotten and long before our time.
I'm referring to the Gold Reserve act Executive Order 1602 of 1933 where gold was required by law to be turned in at an exchange of $20/oz and a year later jacked up to $35/oz an ounce.
This decoupled the Federal Reserve from backing credit with gold, etc. The story continues but you get my point.
https://en.m.wikipedia.org/wiki/Executive_Order_6102#:~:text=Executive%20Order%206102%20required%20all,in%202020)%20per%20troy%20ounce https://en.m.wikipedia.org/wiki/Executive_Order_6102#:~:text....