This week in crypto. August 23-29: The Nixon shock and dollar dominance, ArtBlocks NFTs and more...
dcenter.substack.com
The Nixon Shock and dollar dominance This August marked the 50th anniversary of one of the most significat economic events of this century – and the one that is downplayed far too often – the Nixon Shock. It influenced the entire world, as the majority of countries found themselves (literally overnight) holding a reserve currency without any intrinsic value, with a supply at the mercy of the American Federal Reserve. This issue is not only of historic importance, though. Its consequences are impacting us all, especially now that the Fed’s printing machine has been producing billions upon billions of new dollars, diluting the value of those that are hold by individuals and countries all over the planet. So how did this happen?
This week in crypto. August 23-29: The Nixon shock and dollar dominance, ArtBlocks NFTs and more...
This week in crypto. August 23-29: The Nixon…
This week in crypto. August 23-29: The Nixon shock and dollar dominance, ArtBlocks NFTs and more...
The Nixon Shock and dollar dominance This August marked the 50th anniversary of one of the most significat economic events of this century – and the one that is downplayed far too often – the Nixon Shock. It influenced the entire world, as the majority of countries found themselves (literally overnight) holding a reserve currency without any intrinsic value, with a supply at the mercy of the American Federal Reserve. This issue is not only of historic importance, though. Its consequences are impacting us all, especially now that the Fed’s printing machine has been producing billions upon billions of new dollars, diluting the value of those that are hold by individuals and countries all over the planet. So how did this happen?