"Every graph about the US" with two lines labeled Good Thing and Bad Thing. After Ronald Reagan, Good Thing goes down and Bad Thing goes up
you are viewing a single comment's thread
view the rest of the comments
[–] 5 points 1 year ago (7 children)

So the graph is wrong then, should be Nixon.

  • source
  • parent
  • hideshow 7 child comments
  • [–] 6 points 1 year ago (6 children)

    No, all those graphs tell very different stories and even if they did, it wouldn't inherently mean the transition to fiat was the problem.

  • source
  • parent
  • hideshow 6 child comments
  • [–] 4 points 1 year ago (5 children)

    people who don't understand currency crack me up. it's like pretending the value of specie was tied to the value of precious metal by fiat makes it special.

  • source
  • parent
  • hideshow 5 child comments
  • [–] 3 points 1 year ago (4 children)

    I get why it's so hard to understand, economics (even when studied) isn't really a science and a lot is based in vibes.

    Bitcoin is a fascinating example of a modern day commodity based system. Theoretically there is a finite amount of bitcoin that can exist, meaning there is a limited supply that controls the "market". And as we can see in the bitcoin market, commodity has its own problems (most notably people don't really want to spend it).

    There are even some research done in the space, I'm not familiar with the Cato institute, but there write up here seems like a decent explanation of gold vs bitcoin - https://www.cato.org/blog/how-bitcoin-system-unlike-gold-standard

  • source
  • parent
  • hideshow 4 child comments
  • [–] 8 points 1 year ago (2 children)

    i am familiar with the cato institute and they're a propaganda outlet

  • source
  • parent
  • hideshow 2 child comments