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A comment on The Wealthy Are Hoarding $10B of Bitcoin in Bunkers. Parent comment

Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by jonknee on Wednesday May 09, 2018 @04:31PM (#17033745)
Did you miss the "essentially in name only" part? It was fixed to gold, but they also fixed the price of gold by outlawing [1] people from owning it! When they wanted to deflate the USD they just raised the price of gold [2]. It was a crude fiat system.

[1] https://en.wikipedia.org/wiki/Executive_Order_6102

[2] https://en.wikipedia.org/wiki/Gold_Reserve_Act

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