[mikewarot]

What happened to Gold when Nixon closed the "Gold Window" in 1971? It didn't magically become worthless... what happened instead is that the US Dollar lost most of it's value. The only think keeping it alive is the PetroDollar system instituted by Nixon and Kissinger.

I fail to see how BTC can possibly devalue gold. If the dollar were to further slide in value, if people magically started using BTC instead... the Dollar price of Gold would simply go up even more.

>it seems like the gold that’s used for financial trading could go out of circulation.

Yes, it's been sitting in vaults for decades, that wouldn't change.

[Finnucane]

Indeed, the lat 50 years, we’ve known nothing except poverty and economic decline.

[mikewarot]

Yep, the working class as effectively been abandoned by the RepubliCratic duopoly that infests American politics.

It used to be that if you worked hard, and put in your time, you could retire and have a well deserved pension. Now the kids are lucky to have a 401k with matching that won't come close. They'll never be able to retire.

Never forget that programmers aren't, for the most part, the working class.

[Finnucane]

Sure, but those are policy choices unrelated to price controls for gold. Reagan helped break unions and reduce taxes on the wealthy, and generally weaken labor protections.