How Fiat Ruined the Dollar, With Bitcoin the Revolt

Picture this. It’s 1925. A crew of Prohibition-era bank robbers cracks open a vault, thrilled to find $1 million in gold. But at $20.67/oz, they’d need a convoy to haul away the loot -- over 3,300 pounds of metal.

Fast forward to mid-1975: gold’s up to $142.50/oz, so the same million weighs 489 pounds -- more vending machine than getaway bag.

 

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