• theshatterstone54@feddit.uk
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    1 year ago

    Same thing with the removal of the gold standard. Nixon was supposed to do it temporarily but since it gave ths US the license to print money backed by nothing, why would they bring it back (they could never pay off the gold needed, there’s just not enough of it mined in total). And because the US dollar is the world reserve currentcy (meaning every currency can be exchanged for a dollar) it technically means the entire financial system is a ponzi scheme.