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05 December 2020

Bretton Woods 2.0 is knocking at our door, and it’s not here to help

Bretton Woods 2.0 is knocking at our door, and it’s not here to help


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And the Bretton Woods delegates decided that multiple fiat currencies would now be backed by the U.S.

At first, the dollar proved to be stable enough to support the Bretton Woods agreement in 1944 — until it wasn’t in the decades ahead.

In 1971, President Nixon ended the dollar’s convertibility to gold, which effectively ended the Bretton Woods agreement after nearly 30 years.

The removal of the gold standard turned each country’s fiat currency into a floating exchange rate that was no longer fixed.

Today, one asset that fiat currencies are measured against is Bitcoin (BTC).

As I mentioned in 2019, I think Bitcoin is the best investment when it comes to currencies in the sense of sound money.

History has shown that when people have an inflated amount of power with regard to money, they will use it.

We can’t have a single powerful entity with the power to print itself out of temporary trouble, especially while it would be putting us in future debt that would be impossible to manage.

Blockchain technology can combine the elements of decentralized governance into a classical corporate structure, in order to comply with international laws and Anti-Money Laundering requirements, while using a smart-contract-based bonding curve to tame inflation and volatility, which remain two of the biggest problems with traditional fiat currencies that can be solved

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cointelegraph.com
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