the history of fiat money is anything but funny it is a deliberately complicated system that got its foothold origins in China under the rule of Kublai Khans sword, you could call this forced decree or IOU.
made far worse with fractional reserve lending
Post by twetch#15875
and the turn of events (WW1 & WW2) that allowed america to hold a vast majority of the worlds gold. Which then physically backed the USD, basically until they spent it all to finance perpetual warfare in the future.
Then gold was removed from backing USD
What the chain says
- Block
- 623 338
- Time
- 2020-02-23T17:00:51Z
- Signer
- 148sxacPXapQNhFBRnY9PPY5qcyoiacGeq
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#15875
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
148sxacPXapQNhFBRnY9PPY5qcyoiacGeq VerifiedReplies (2)
that's what really began to fuck everyone hard because all value was removed from their paper currency. it was nothing but absolutely worthless. Until... US and Saudi created the 'petro dollar' this agreement means ALL Saudi oil must purchased in USD only
which kind of gave the USD a 'use-case' again forced on others.
This petro dollar agreement is what stops man moving away from fossil fuels and it enslaves every person whose local $ or whatever is paired against the USD. You'll need to end this scenario