“…, fix the world” is a phrase that suggests that many of the global issues are rooted in economic inequality and that addressing those inequalities through financial reform is key to solving them. The global financial system with the US Dollar as Global Reserve Currency is structured in a way that perpetuates poverty, injustice, and environmental degradation. The flaws of the current capitalistic system are much deeper rooted in the way money is created and distributed to the people by Central Banks like the FED and the ECB. The so called Fiat-System knows no limit of money printing since the definitve end of the Gold Standard on August 13th 1971. US President Nixon unilaterally suspended the convertibility of the US Dollar to Gold, effectively ending the Bretton Woods system that had been in place since the end of World War II. This meant that foreign countries could no longer exchange their US Dollars for Gold at a fixed exchange rate, as had been the case under the Bretton Woods system. Nixon declared that the US Dollar will no longer be convertible into Gold.
Source: Quora
The purchasing power of the US Dollar has lost more than 96% of its value since 1913. The FED and US Administrations have never been in favor of the people, which work hard and save hard their earned money. Bitcoin fixes this and seperates money from the state and Central Banks. It is capped at 21 million Bitcoin and no central entity can decide to produce more at their will.
We not only need changes to the international monetary system, such as debt forgiveness, wealth redistribution, or greater regulation of multinational corporations, even a transformation to an alternative financial system is needed more than ever. One which prioritizes sustainability and social justice over profit and gives the money back to the people.
