121 sats \ 3 replies \ @danieltapa 31 Aug 2023 \ on: People in the US are getting poorer since 1963 (housing data shows). bitcoin
wtf happened in 1971?
write
preview
31 sats \ 2 replies \ @AyCaramba OP 31 Aug 2023
The US dropped the gold standard. From then on, US money stopped being backed by gold, so the government (the Fed) could print money with no restrictions. https://en.wikipedia.org/wiki/Nixon_shock
reply
0 sats \ 1 reply \ @danieltapa 1 Sep 2023
yes but Nixon said it's only temporarily, right? anytime now we're back to gold!
reply
0 sats \ 0 replies \ @AyCaramba OP 1 Sep 2023
Hahahaha absolutely!
reply