“History shows that no government, after going on a fiat monetary system, ever reverses course until its paper currency is destroyed. There is no reason to believe this time will be any different.” – CMI Gold & Silver

https://www.cmi-gold-silver.com/article/gold-standard-inflation-fiat-money/ is the source of the quote.

I did some research on the value of the dollar over the course of US history (at least, as far back as I could find. What I discovered was that the value of the dollar relative to the *median* price of gold over the last 225 years has crashed significantly and not recovered twice. *Only* twice. Once was at the beginning of the great depression, and the other was the minute the gold standard was abolished.

Note: There was a scenario on a similar scale of the great depression during the Colorado Gold Rush of 1859, but this only applies to gold and I think this is due to peoples' tastes and preferences leaning towards gold. The gold rush must have affected demand more than supply, because the price nearly doubled. That's the only thing I can think of to explain it.

Regardless, the price of gold returned to the median in just a little under two decades — very short in the history of the US. Here are the excel graphs I made that caused me to discover this phenomenon. https://imgur.com/a/FpEVl0W

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Bitcoin – The Currency of the Internet

The US Treasury Department says that the government borrowed a record $488 billion in the January-March quarter of 2018, exceeded the old record of $483 billion set in the first quarter of 2010, a period when the country was struggling to pull out of a deep recession. TLDR: Buy Bitcoin.

The US Treasury Department says that the government borrowed a record $  488 billion in the January-March quarter of 2018, exceeded the old record of $  483 billion set in the first quarter of 2010, a period when the country was struggling to pull out of a deep recession. TLDR: Buy Bitcoin. submitted by /u/SpencerLovesErin
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Bitcoin – The Currency of the Internet

Russian Government Concerned Crypto Bill Inadequate in Many Ways (news.bitcoin.com)

The Russian government has officially provided a response to the bill that seeks to outline the legal framework for cryptocurrencies. Many flaws and inadequacies were pointed out including unjustified restrictions on Russian residents and foreign investors.
Also read: Russian Regulators Draft Law to Restrict Crypto

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Government of Iran Bans Foreign Fiat Currency Exchanges (news.bitcoin.com)

It appears that the Iranian people are losing trust in the rial as it continues to depreciate in value. In response, the government of Iran is trying to prevent them from getting their hands on foreign currency, providing another example of the need for bitcoin. We should expect to see a growth in local bitcoin use as this situation develops, just as has happened in Venezuela and elsewhere.
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