A New Era: The Bitcoin-Backed Monetary System
• https://www.zerohedge.com, by Tephra DigitalSince the collapse of Bretton Woods in 1971, the U.S. Dollar has functioned as a fiat currency. The petrodollar agreement in 1974 tied the Dollar indirectly to oil, reinforcing global demand for the Dollar.
The Federal Reserve Note, Redeemable in Gold or in Lawful Money, has been a fiat currency since 1913. By fraudulent action, it was legislated to be a debt of the people [a Legal Tender] in 1922. Ref. 31 USC #462.