This meant you could redeem your dollar for gold & the government had to have enough gold to match the number of dollars they printed
“The Gold Standard” ended in 1971 b/c the US ran low on gold & needed more $ for war & welfare
With Philadelphia now up, the billboard photo thread that teaches those about #Bitcoin as an alternative to our broken financial system is complete
Those in the 12 Federal Reserve Bank cities who see them are directed to the thread below as copied from @BTCvsFED ⬇️
This meant you could redeem your dollar for gold & the government had to have enough gold to match the number of dollars they printed
“The Gold Standard” ended in 1971 b/c the US ran low on gold & needed more $ for war & welfare
When the Fed prints money, inflation occurs & prices go up b/c all dollars are worth less
Imagine the economy is a pizza & The Fed gives you a slice ($1)
When printing new money, they cut your🍕into more pieces to give out
Many Americans hold dollars b/c they can’t afford a home & w/ bills to pay they can’t risk the stock market
Meanwhile, the wealthy move $ into real estate & other assets that better hold value
The new money is given to select individuals and businesses. You wait for Congress to decide if you deserve a stimulus check
This process where money flows more easily to insiders is known as the Cantillon Effect and it makes the wealth gap grow even further
You have to trust those in power to print money for the right reasons
You have to trust they distribute it fairly
And…you're supposed to trust their updates on how the economy is doing
But some argue the type of goods chosen hides the true rate of inflation
We know inflation is happening but how bad is it?
They might shrink the portion size or use less healthy ingredients
There are so many ways this financial system can hurt you
What if you don’t want to be last to receive newly printed money?
What if you don’t trust the data the government provides on the health of our economy?
Bitcoin gives you an out
Lots of protesting lately yet not much change. A protest doesn’t have to be in the streets. BTC brings change via your wallet
I don’t want the average citizen to get left behind
You can buy or earn a small fraction of a bitcoin to start
You are part of a growing, global movement that brings about change by addressing the root cause of the problem
This project was inspired by many including @iamthecharacter @aiww @gladstein @stacyherbert @bitcoinzay @aantonop @maxkeiser @matt_odell @RealRossU @MartyBent @RussellOkung...
It was funded by selling prints of the artwork seen on the billboards
Appreciate any help in getting the word out. DMs open!
More from Bitcoin
Ok, so what is the significance of the @lagarde statement on bitcoin?
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW
— Reuters (@Reuters) January 13, 2021
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
To chaiye chalte h 12K ki taraf.
#BTC https://t.co/Yd4iZqC42s
#BTC https://t.co/Yd4iZqC42s
I don't know why Crypto YouTubers are so bullish on BTC right from the top \U0001f61b while the charts are saying something else. Won't be surprised to see the entire retracement of the marked rise. #BTC pic.twitter.com/SQJkjAfZme
— Aakash Gangwar (@akashgngwr823) April 30, 2022
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I think a plausible explanation is that whatever Corbyn says or does, his critics will denounce - no matter how much hypocrisy it necessitates.
Corbyn opposes the exploitation of foreign sweatshop-workers - Labour MPs complain he's like Nigel
He speaks up in defence of migrants - Labour MPs whinge that he's not listening to the public's very real concerns about immigration:
He's wrong to prioritise Labour Party members over the public:
He's wrong to prioritise the public over Labour Party
One of the oddest features of the Labour tax row is how raising allowances, which the media allowed the LDs to describe as progressive (in spite of evidence to contrary) through the coalition years, is now seen by everyone as very right wing
— Tom Clark (@prospect_clark) November 2, 2018
Corbyn opposes the exploitation of foreign sweatshop-workers - Labour MPs complain he's like Nigel
He speaks up in defence of migrants - Labour MPs whinge that he's not listening to the public's very real concerns about immigration:
He's wrong to prioritise Labour Party members over the public:
He's wrong to prioritise the public over Labour Party
