• explodicle@local106.com
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            1 year ago

            The Nixon Shock was the end of the Bretton Woods system (kinda sorta a gold standard) and the beginning of unlimited inflation we see today. Everything absolutely went to shit after Nixon, especially inequality.

            • JohnDClay
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              1 year ago

              Is gold actually worth something though? Most of it’s value is also just because it lasts a long time and we all think it is valuable. And I disagree that things have gotten worse only since Nixon

              • explodicle@local106.com
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                1 year ago

                Sorry if I implied the world in general has only gotten worse since then. I was referring to the money supply and its consequences.

                Why do you say “most”?

                • JohnDClay
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                  1 year ago

                  Gold has some value from use in corrosion resistant cables, contacts, or telescopes, but it’s mostly just an agreed upon store of value like any other currency