Your thoughts on 1971?
For those who don't know, link -
"I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take it vi...
https://wtfhappenedin1971.com/
Thanks for sharing, looks interesting data. In 1971, the gold standard was dropped and floating or Fiat currency was adopted. Also interestingly microcontrollers or chips were invented around then by intel which revolutionized the computer industry later. Infact robotics, mobile phones, all were developed quickly after this invention which was more advanced than the previous generation phones as we know.
Kamlesh
Stealth
5 months ago
That fiat currency was a mistake. Currency needs to be backed in full, not just a government's promise. Inflation is driving inequality and many other issues as a result.
InFumckus
Student
5 months ago
Currency is inherently only as valuable as people and nations perceive it to be backing it through a governments promise havent worked out to be ideal but in a bigger scheme of things this is a minuscule step towards humans learning exchange of value be it exchange of resources time or innovation this sudden rise in disparity was also contributed by increase in the number of billionaires who built it by either by exploiting loopholes in the newly fiat currency system and it is through these loopholes exploitation we get aware of what needs to be fixed or what is the necessary this necessity was felt in 2008 aswell and hence bitcoin was born. Even bitcoin today faces threats of security from theft and forgery but this is a again a step in moving towards a probable ideal solution and humans will adjust to it this order is fleeting only chaos is imminent. All human creations have followed a cyclic path of reliability with troughs showing distrust and peaks showing confidence its a process for humanity as a whole and instead of constant criticism and perceiving it in an evil or authoritarian light it should be perceived as it is a mere mistake that needs a solution from the same kind that made the mistake and we must contribute to change instead of holding onto the past for too long it was a mistake and we learnt now its time to move on so many graphs depicting whatwentwrongin1971 maybe just maybe such bright abilities could’ve been shelled out to help our elders and boomers to understand the changes and help them grasp the change as they are neurologically slower to adapt to change. Thank you for such a detailed information on 1971 effects
Maybe listen to Ankit Shah on YouTube, he had also suggested a similar thing
LeftDispute
Stealth
5 months ago
Builds the PERFECT case for Bitcoin.
USA was loosing badly in Vietnam and lots of people and money also, they needed money to continue cold war with Russia, also wanted to bring countries under capitalism hence bretton woods agreement and beginning of zirp era
Kamlesh
Stealth
5 months ago
I know, I try and share it as often as possible
Kamlesh
Stealth
5 months ago
If I were good with data and numbers, I'd be building comparisons with India and how it affected us over time
Gohan_goku
Stealth
5 months ago
WTF happened... marketers, narrative creators started existing.
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