The gold standard kept the government honest and away from printing ridiculous amounts of money, a digital gold standard is needed now more than ever.

Summary: **The gold standard kept the government honest and away from printing ridiculous amounts of money**, after leaving the gold standard rampant spending occurred that drove annual deficit numbers into unprecedented territory, going through the worst inflationary period in U.S. history. During the gold standard 99% of Americans were slowly increasing their slice of the wealth pie, leaving it resulted in only the 1% benefitting. After the 2008 recession, the income of the 1% soared by 31.4%, compared to just 0.4% for the 99%

**How exactly does Bitcoin fit into all of this? The root cause of income inequality starts with the printing of money. This money is distributed to banks and corporations. Bitcoin provides a unique scenario in which money stops looping from the Federal Reserve to banks and corporations. With a Bitcoin standard, adequate wages would redevelop without government involvement.** Acting as a form of digital gold, bitcoin also gives the common person easier access to store wealth. This is important when keeping in mind the vast influx of printed money in recent years.

SOURCE: [https://bitcoinmagazine.com/markets/bitcoin-50-year-gold-standard-memorial](https://bitcoinmagazine.com/markets/bitcoin-50-year-gold-standard-memorial)

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