📆 54 years ago, on August 14, 1971, U.S. President Richard Nixon announced the "Nixon Shock," suspending the convertibility of dollars to gold at a rate of $35 per ounce. Since then, the system of real money has changed. The exchange Coinbase annually reminds us of this event with its infographic, concluding with the prophecy of F.A. Hayek from 1984:
"I do not believe that we will ever have good money again until we take it out of the hands of government. We cannot forcefully take it out of the hands of government, but all we can do is to introduce something through some clever roundabout way that they will not be able to stop."
