In hindsight, several particular decisions made in the 20th century created an environment that necessitated bitcoin.
This is an opinion editorial by Wilbrrr Wrong, Bitcoin pleb and economic history enthusiast.
Aug. 15 marks the anniversary of Richard Nixon’s 1971 decision to sever the link of the U.S. dollar to gold. A recent book by Jeffrey Garten, “Three Days At Camp David,” gives an excellent behind-the-scenes look at the process that led to this decision. The ultimate shape of the policy shift was a mixture of Cold War geopolitics, domestic Republican vs. Democrat jockeying and Nixon’s obsession with his 1972 reelection.