Examining The Nixon Shock Decisions That Would Lead To Bitcoin
In hindsight, several particular decisions made in the 20th century created an environment that necessitated bitcoin.This is an opinion editorial by Wilbrrr Wrong, Bitcoin pleb and economic history enthusiast.Aug. 15 marks the anniversary of Richard Nixon’s 1971 decision to sever the link of the U.S. dollar to gold. A recent book by Jeffrey Garten, “Three Days At Camp David,” gives an excellent behind-the-scenes look at the process that led to this decision. The ultimate shape of the policy shift was a mixture of Cold War geopolitics, domestic Republican vs. Democrat jockeying and Nixon’s....
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Approximately 50 years ago today, Americans were introduced to ‘Nixon Shock’ when the 37th president of the United States suspended the convertibility of the U.S. dollar into gold. Since this point in time, the U.S. economy has never been the same as many believe Richard Nixon ushered in a new era of uncontrollable fiat currency creation. 50 Years Ago Today, Nixon Shook the World Today is the anniversary of when U.S. president Richard Milhous Nixon told the American public on August 15, 1971, that the administration along with the Treasury would immediately suspend the U.S.....
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