View single post by Superstar
 Posted: Wed Nov 15th, 2017 01:25 am
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Superstar
'18-'19 POTY, 1st Ballot HOFer


Joined: Thu Jan 31st, 2008
Location: Spread Eagle, Wisconsin USA
Posts: 6375
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srossi wrote: Superstar wrote: srossi wrote: Superstar wrote: The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.
All of our currency has been a giant work since we came off the Gold Standard about 80 years ago.

I can agree with that too.  But weren't we still on the Gold Standard right up until Nixon took office?  My dad told me he remembers when they basically confiscated all the gold coins in circulation and made you exchange them for paper money because the gold was worth more than the face value at that time.  They also stopped issuing gold certificates, and by the late 50s pulled all the silver certificates from circulation too.  I have a couple of those that I got in my change over the years, they aren't worth much more than a buck but they are cool to have.

It was an evokaution from the '30s to the '60s I think of slowly pulling us off of it.  The confiscation of gold coins incident definitely left a last impression on anyone old enough to have lived through it.  Most don't remember it today though.

Asked my dad why they just didn't keep the coins, and he said "we wouldn't have had money for food, so we were forced to trade them in".



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