BankSith on Nostr: In 1971, President Richard Nixon temporarily suspended the gold standard. Facing ...
In 1971, President Richard Nixon temporarily suspended the gold standard. Facing financial strain from the Vietnam War and other expenses, he unpegged the US dollar from #gold. This move allowed unlimited money creation but severed the link between currency and tangible assets.
Governments often resemble children in a candy store. When they need funds, they print more money—like a child demanding sweets. However, this short-term gratification can lead to long-term consequences, including inflation, debt, and economic instability.
Fiat currency lacks the stability and intrinsic value of sound money. As we navigate the complexities of modern finance, understanding these principles can empower us to advocate for a more sustainable monetary system—one that serves the entire economy without burdening future generations.
Remember, sound money isn’t just about economics; it’s about safeguarding our prosperity.
By the way, did you know that the current US debt clock shows $34.5 trillion, marking a new high? And what do you think, will the current socialist government return to sound money principles by tomorrow and start paying off all debt? 💸
Learn #bitcoin 🧡
Published at
2024-03-20 08:34:59Event JSON
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"content": "In 1971, President Richard Nixon temporarily suspended the gold standard. Facing financial strain from the Vietnam War and other expenses, he unpegged the US dollar from #gold. This move allowed unlimited money creation but severed the link between currency and tangible assets.\n\nGovernments often resemble children in a candy store. When they need funds, they print more money—like a child demanding sweets. However, this short-term gratification can lead to long-term consequences, including inflation, debt, and economic instability.\n\nFiat currency lacks the stability and intrinsic value of sound money. As we navigate the complexities of modern finance, understanding these principles can empower us to advocate for a more sustainable monetary system—one that serves the entire economy without burdening future generations.\nRemember, sound money isn’t just about economics; it’s about safeguarding our prosperity.\n\nBy the way, did you know that the current US debt clock shows $34.5 trillion, marking a new high? And what do you think, will the current socialist government return to sound money principles by tomorrow and start paying off all debt? 💸 \n\nLearn #bitcoin 🧡 https://image.nostr.build/c1478a059ed14877f2f00ca9a03cf0fb3894352147829beff6d0b0b3921b713b.jpg ",
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