In January, 1934, United States passed Gold Reserve Act which prohibited the Treasury and financial institutions from redeeming dollar bills for gold. A year earlier, in 1933, an Order had made it criminal offense for US citizens to own or trade gold anywhere in the world. In addition, the act granted US president the right to artificially jack gold value in dollar ($26 to $34) which made international gold flew to the states.

10 years later, in 1944, the #Bretton Woods system established. US dollar replaced gold and became the world reserve currency. World economy transformed from backed by gold directly to indirectly through guaranteed convertible US dollars at rate of $35 per troy ounce.

Unlike gold, #bitcoin is fully divisible and portable which doesn’t need a reserve system. However, If US or any nation wants to maintain or establish its financial power, what has happened to gold may happen to bitcoin in some sort of similarity. Be prepared and stay humble.