With Philadelphia now up, the billboard photo thread that teaches those about #Bitcoin as an alternative to our broken financial system is complete
Those in the 12 Federal Reserve Bank cities who see them are directed to the thread below as copied from @BTCvsFED ⬇️
Not long ago, the dollar was backed by gold
This meant you could redeem your dollar for gold & the government had to have enough gold to match the number of dollars they printed
“The Gold Standard” ended in 1971 b/c the US ran low on gold & needed more $ for war & welfare
Without a cap on how much money could be printed, The Federal Reserve (USA’s central bank) was now free to create unlimited quantities of dollars
When the Fed prints money, inflation occurs & prices go up b/c all dollars are worth less
If your earnings don't keep up w/ the rate of inflation the purchasing power of your dollars melts away
Imagine the economy is a pizza & The Fed gives you a slice ($1)
When printing new money, they cut your🍕into more pieces to give out
Yes, you still have a slice ($1) but you’re hungrier b/c that $1 doesn’t go as far
Many Americans hold dollars b/c they can’t afford a home & w/ bills to pay they can’t risk the stock market
Meanwhile, the wealthy move $ into real estate & other assets that better hold value