The Big Reset

The Future Of Money Is Here

Augustus Lee
Nov 5 · 7 min read


American Imperialism

$20 backed by gold “In gold coin payable to the bearer on demand”

A Gradual Decline

Nothing good lasts forever, and following the decline of the Bretton Woods system, a new monetary policy was about to take the world by storm. This new policy was sparked by the Nixon Shock and on August 15th, 1971, then president, Richard Nixon announced the end of the gold backed U.S. dollar.

$20 in fiat currency

The Fall

Over the past two years, I’ve noticed emerging markets selling their USD reserves in exchange for Gold bullion instead. I thought it was slightly strange because normally countries could buy T bonds with their reserves and collect interest in USD, but after due diligence, it made perfect sense, in my opinion, it was clear the U.S. Dollar will lose its reserve status within the next few years.

State sanctioned ponzi

The Recovery

When it comes down to it, society needs a change; the current system is failing and the signs are inevitable. Bitcoin, cryptocurrency, and smart contracts have become a major factor when it comes to monetary ideologies. More people are starting to understand Aristotle’s theory of value and applying it to cryptocurrency. Remarkably, this idea is slowly becoming a social norm and shaping the world of finance. People can now conduct instant P2P transactions over the internet without an intermediary. This greatly reduces the dependency we have in banks, but what makes it even better, most cryptocurrencies have a decentralized means of distribution, which reduces the risk of corruption.


Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project —

Augustus Lee

Written by

Free Market Capitalism, Austrian Economics, Libertarian, and a Bitcoin Enthusiast // Oh, and I Analyze Things



Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project —

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade