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Farmer J profile picture
Farmer J
@JCHCG
My birthday, the day Nixon fucked what was left of a somewhat decent monetary system.

While Fiat has always been shit, at least it was backed by something hard like gold.

#fuckfiat and #fucknixon
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O Tristão · 1w
How well was it tied to gold. Did they keep it tied to a certain quantity of gold and only print more when they had more gold in stock? And was it redeemable for gold at banks?
DrDanielHodl · 1w
To be fair, the dollar wasn't fiat until 1971. That's when it became fiat.