In 1971, the dollar went through it's most current version of fiat. This version of the dollar was "temporarily" not to be converted to gold. Hence, countries that the US paid in dollars, could not convert those dollars to gold. If said country was on a gold standard, they were now "rug pulled" and had to hold dollars until they could find someone else to accept dollars for payment of things.

This is a version of the greater fool theory.

With the debt ceiling, unfortunately, this will go on perpetually. It seems as though the only way to change the current system if after it breaks. There is literally no one, or group of people, who can actually make any change because this creature has grown too big and complex.

#debtceiling

#goldstandard

#gold

#silver

#bitcoin