Today I examine the failure of the gold standard, in an effort to bring context to my line of thinking around becoming a Bitcoin Maximalist. We talk about the transition from physical gold to paper certificates, a history of fractional reserve banking and bank runs, the gold confiscation and subsequent gold reserve act of 1934, and finally the abolition of the gold standard by Nixon in 1971.
Be sure to check out my medium article which sums up the entirety of my thoughts, and will give you an outline of the videos to come in this series.
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