Wars were difficult to fund under the gold standard. Eg. WW1. FDR got rid of monetary gold so he could print money to fund New Deal and the WW2 happened. Vietnam contributed to end of gold standard but also inflation, which caused other countries to cash in USD for gold.
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Same here. 16 years of formal education across both sides of the ocean and I did not learn a word about money or how the Vietnam war contributed to the end of the Gold Standard (and I grew up in Vietnam!). They don’t teach this stuff to you. You have to dig hard.
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even if Bitcoin doesn’t amount to anything, it’s already massively successful because it teaches a whole generation of people lessons about money, war, history, distributed computing, cryptography & game theory, among other things.
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Central Banks hoard gold and dish out fiat, which is stored in banks, which is then used to dish out more fiat... "Do as I say, not as I do."pic.twitter.com/6DtnjMeEWv
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Absolutely. Hitler rose to power from the chaos of the 30's hyperinflation in Germany.
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@adamscrabble a penny for your thoughtsThanks. Twitter will use this to make your timeline better. UndoUndo
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