The Battle For The Future of Money: Bitcoin vs. CBDC's
“Gold is money everything else is credit”
J.P. Morgan
From the 1830s the US was on a de facto gold standard and de jure gold standard since 1900. The Federal Reserve was legally obliged to convert dollars for gold on demand at a fixed price of $20.67 per ounce of gold since every bank note was a gold certificate. For a while the Fed had enough gold to sat…
