On August 15, 1971, President Nixon announced:
“I have instructed the Secretary of the Treasury to suspend… the convertibility of the dollar into gold.”
In git terms, he did:
$ git tag -d v1.0-gold-standard$ git tag -d bretton-woods-1944$ git push origin --delete v1.0-gold-standardFrom Ring -5 archives, I have the original commit message:
commit 1944-07-22Author: John Maynard Keynes <[email protected]>Date: 1944-07-22T14:33:00Z
feat: establish gold-backed currency (v1.0-gold-standard)
All currency issuance backed by physical gold reserves. Ensures monetary discipline. Prevents hyperinflation. Customers can redeem dollars for gold at $35/ounce.
signed: ----- BEGIN PGP SIGNATURE -----This version was tagged globally.
Every nation cloned it.
Every central bank ran:
$ git checkout v1.0-gold-standard$ git log --oneline | head -3a1b2c3d (tag: v1.0-gold-standard) feat: establish gold-backed currencyFor 27 years, this was the canonical version of money.
Then Nixon deleted the tag.