Cyph3rp9nk on Nostr: Good morning! On this day, August 15, 1971, President Richard Nixon abolished the ...
Good morning!
On this day, August 15, 1971, President Richard Nixon abolished the gold standard. This decision marked the end of the dollar's convertibility into gold, shifting the international financial system to the use of fiat money, backed by trust in government rather than gold reserves.
Published at
2024-08-15 08:04:26Event JSON
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"content": "Good morning!\n\nOn this day, August 15, 1971, President Richard Nixon abolished the gold standard. This decision marked the end of the dollar's convertibility into gold, shifting the international financial system to the use of fiat money, backed by trust in government rather than gold reserves.\n\nhttps://m.primal.net/KAGI.png ",
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