yes but Nixon said it's only temporarily, right? anytime now we're back to gold!

danieltapa

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

bitcoin

People in the US are getting poorer since 1963 (housing data shows).

AyCaramba

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
