The Shortform
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The Shortform

What the fuck happened in 1971?

The source of all our problems.

In 1971 president Nixon ended the international convertibility of the U.S. dollar to gold. Initially, this was meant as a temporary measure but as Milton Friedman used to say: “nothing is so permanent as a temporary government program”.

In 1976 the definition of the US dollar was officially changed.

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Yannik Pieper

Yannik Pieper

23 / Berlin, Germany. I’m writing about ₿itcoin and what it means to be a sovereign individual in the 21st century.

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