{"id":1920,"date":"2024-01-17T15:45:50","date_gmt":"2024-01-17T15:45:50","guid":{"rendered":"http:\/\/localhost\/dpetkovski\/?p=1920"},"modified":"2024-06-13T11:37:03","modified_gmt":"2024-06-13T11:37:03","slug":"the-death-of-the-gold-standard-what-happened-in-1971-part-1","status":"publish","type":"post","link":"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/","title":{"rendered":"The Death of the Gold Standard &#8211; What Happened in 1971 (Part 1)"},"content":{"rendered":"<blockquote><p>The gold standard is a monetary system where a country&#8217;s currency or paper money has a value directly linked to gold.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/09\/gold-standard.asp\">Investopedia, What is the Gold Standard?<\/a><\/li>\n<\/ul>\n<\/blockquote>\n<p>Throughout a major part of human history, gold was the only globally recognized unit of account.<\/p>\n<p>And it still has that status, as every system\/country\/empire agrees on its value. However, today we also use other things as currency.<\/p>\n<p>In this post, I&#8217;ll focus on the recent history of gold as a reserve currency.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_60 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-66e419ebe9e24\" ><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-66e419ebe9e24\"  type=\"checkbox\" id=\"item-66e419ebe9e24\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#The_Gold_Standard\" title=\"The Gold Standard\">The Gold Standard<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#The_Centralization_of_Power\" title=\"The Centralization of Power\">The Centralization of Power<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#1933_Confiscation_of_the_Citizens_Gold\" title=\"1933: Confiscation of the Citizens&#8217; Gold\">1933: Confiscation of the Citizens&#8217; Gold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#1944_Confiscation_of_the_Worlds_Gold\" title=\"1944: Confiscation of the World&#8217;s Gold\">1944: Confiscation of the World&#8217;s Gold<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#The_Abuse_of_the_Reserve_Currency\" title=\"The Abuse of the Reserve Currency\">The Abuse of the Reserve Currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#The_Death_of_the_Gold_Standard\" title=\"The Death of the Gold Standard\">The Death of the Gold Standard<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Gold_Standard\"><\/span>The Gold Standard<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>We will start with the <a href=\"http:\/\/www2.econ.iastate.edu\/classes\/econ355\/choi\/1900mar14.html\">Gold Standard Act of 1900<\/a>, which made the US dollars exchangeable to gold.<\/p>\n<p>People wouldn&#8217;t have to keep their wealth in gold, but could have it <em>conveniently<\/em> stored in a bank. For this, they&#8217;d receive\u00a0<strong>banknotes<\/strong>, which they could <em>conveniently<\/em> use in daily life.<\/p>\n<p>If at any moment a person wants his gold, he can enter a bank, provide $USD and get his gold back.<\/p>\n<p>The gold was pegged at $20 per ounce.<\/p>\n<p>This was possible because the amount of paper money reflected the amount of gold in reserves.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Centralization_of_Power\"><\/span>The Centralization of Power<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Unfortunately, history continuously teaches us that we can&#8217;t trust a government to keep promises and provide personal freedom in tough times.<\/p>\n<p>Namely:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1933_Confiscation_of_the_Citizens_Gold\"><\/span>1933: Confiscation of the Citizens&#8217; Gold<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The United States got into a gold deficit during the Great Depression. So the government decided that <em>&#8220;hoarding of gold&#8221;<\/em> is worsening the crisis.<\/p>\n<p>And just like that, the government seized all the citizens&#8217; gold.<\/p>\n<p>This literally happened in the land of the free.<\/p>\n<p>With the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Executive_Order_6102\">Executive Order 6102<\/a>, since 1933, officially,\u00a0you\u00a0<strong>weren&#8217;t\u00a0allowed<\/strong> to have gold. Your country needed it. This forced all Americans to exchange their gold for dollars.<\/p>\n<p>The price per ounce increased from 20$ to 35$. Favorable to deposit, unfavorable (and illegal) to withdraw.<\/p>\n<p>This <strong>started<\/strong> the centralization of the gold standard in recent history.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-1921\" src=\"http:\/\/localhost\/dpetkovski\/wp-content\/uploads\/2024\/01\/fort-knox.jpg\" alt=\"gold standard\" width=\"822\" height=\"430\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1944_Confiscation_of_the_Worlds_Gold\"><\/span>1944: Confiscation of the World&#8217;s Gold<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>After the two world wars, most of the &#8220;west&#8221; was in total economic ruin.<\/p>\n<p>To support international economic growth and foreign exchange stability, the world needed a global and reliable monetary management system.<\/p>\n<p>This lead to the negotiation of the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Bretton_Woods_system\">Bretton Woods Agreement<\/a> in 1944, by delegates from 44 countries. It was agreed that the $USD will be pegged to gold at a rate of $35\/oz, and all other currencies will be pegged to the US dollar.<\/p>\n<p>I won&#8217;t go in the details here, but you can read about the <a href=\"https:\/\/en.wikipedia.org\/wiki\/World_Bank\">World Bank<\/a> and the <a href=\"https:\/\/en.wikipedia.org\/wiki\/International_Monetary_Fund\">International Monetary Fund<\/a> &#8211; two institutions that were created to facilitate this process.<\/p>\n<p>With over 75% of the world&#8217;s gold reserves, the United States took this opportunity to further position itself as the superpower.<\/p>\n<p>Think about it&#8230;<\/p>\n<p>Only the US could issue units of account and everyone else pegged to it.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Abuse_of_the_Reserve_Currency\"><\/span>The Abuse of the Reserve Currency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Imagine having the ability to create money.<\/p>\n<p>Well, now that your currency\u00a0<strong>is\u00a0<\/strong>the global standard, in a way, you can&#8230;<\/p>\n<blockquote><p>The ease with which paper money can be created, by both legitimate authorities and counterfeiters, has led both to a temptation in times of crisis such as war or revolution to produce paper money which was not supported by precious metal or other goods, thus leading to\u00a0<a title=\"Hyperinflation\" href=\"https:\/\/en.wikipedia.org\/wiki\/Hyperinflation\">Hyperinflation<\/a> and a loss of faith in the value of paper money.<\/p>\n<ul>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Banknote#History_of_counterfeiting_and_security_measures\">Wikipedia, Banknote &#8211; History of counterfeiting and security measures<\/a><\/li>\n<\/ul>\n<\/blockquote>\n<p>As any time in history, eventually taxes weren&#8217;t enough to fund the government spending.<\/p>\n<p>Domestic programs aside, the Vietnam war itself costed the US <a href=\"https:\/\/www.thebalancemoney.com\/vietnam-war-facts-definition-costs-and-timeline-4154921\">more than $1 trillion in today&#8217;s money<\/a>.<\/p>\n<p>Irresponsible spending is\u00a0<strong>always\u00a0<\/strong>followed by reckless creation of money, thus devaluing the currency. The US had to increase the price of gold again &#8211; this time to $42\/oz, making every dollar in circulation worth less.<\/p>\n<p>Other countries took note and didn&#8217;t want to be the last holding a bag of worthless $USD.<\/p>\n<p>So they started to demand their gold back. Germany, Switzerland, and France were the first to do this.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Death_of_the_Gold_Standard\"><\/span>The Death of the Gold Standard<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The gold reserves were depleting.<\/p>\n<p>The US found itself in a difficult economic situation, and coupled with the pressure from other countries, <em>&#8220;The Nixon Shock&#8221;<\/em> followed.<\/p>\n<p>In 1971, the US <strong>unilaterally terminated<\/strong> the <strong>convertibility of $USD to gold<\/strong>.<\/p>\n<p>This was the end of the Bretton Woods system.<\/p>\n<p>Here&#8217;s an excerpt from president&#8217;s speech, signifying\u00a0<strong>the death of the gold standard:<\/strong><\/p>\n<div class='embed-container'><iframe loading=\"lazy\" title=\"50 Years Ago Nixon Shock August 15, 1971 - Nixon shuts the Gold Window\" width=\"1333\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/RZFv9ZKaNr4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<hr \/>\n<blockquote><p><em>&#8220;Nothing is so permanent as a temporary government program&#8221;<\/em><\/p>\n<ul>\n<li><em>Milton Friedman<\/em><\/li>\n<\/ul>\n<\/blockquote>\n<p>Couldn&#8217;t be more true.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Don&#8217;t get your wealth diluted through <a href=\"https:\/\/dpetkovski.com\/inflation-explained\/\">inflation<\/a> by doing nothing.<\/p>\n<p><a href=\"https:\/\/dpetkovski.com\/self-custody-explained-not-your-keys-not-your-coins\/\">Take custody of your money<\/a> and join the <a href=\"https:\/\/dpetkovski.com\/the-inevitability-of-bitcoin\/\">inevitable movement<\/a>.<\/p>\n<p>I published a part 2 of this post: <a href=\"https:\/\/dpetkovski.com\/the-death-of-the-gold-standard-the-aftermath-part-2\/\">The Death of the Gold Standard &#8211; The Aftermath<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The gold standard is a monetary system where a country&rsquo;s currency or paper money has a value directly linked to gold. Investopedia, What is the Gold Standard? Throughout a major part of human history, gold was the only globally recognized unit of account. And it still has that status, as every system\/country\/empire agrees on its&nbsp;&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,9,13],"tags":[],"ppma_author":[4],"class_list":["post-1920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-cryptocurrency","category-finance-economics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Death of the Gold Standard - What Happened in 1971 (Part 1) - D. Petkovski<\/title>\n<meta name=\"description\" content=\"The gold standard is a monetary system where currencies are pegged to gold. It was officially abolished in 1971. Read what it means for you.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Death of the Gold Standard - What Happened in 1971 (Part 1) - D. Petkovski","description":"The gold standard is a monetary system where currencies are pegged to gold. It was officially abolished in 1971. Read what it means for you.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/#article","isPartOf":{"@id":"http:\/\/localhost\/dpetkovski\/the-death-of-the-gold-standard-what-happened-in-1971-part-1\/"},"author":{"name":"D. 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Petkovski","description":"","publisher":{"@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/ce4d9bf1ba43635723c9d1b513b58049"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/localhost\/dpetkovski\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/ce4d9bf1ba43635723c9d1b513b58049","name":"D. Petkovski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/image\/1375f840626910edc086c1a5da56659f","url":"http:\/\/2.gravatar.com\/avatar\/?s=96&d=mm&r=g","contentUrl":"http:\/\/2.gravatar.com\/avatar\/?s=96&d=mm&r=g","caption":"D. Petkovski"},"logo":{"@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/image\/1375f840626910edc086c1a5da56659f"},"description":"D. Petkovski \ud83d\udcd3 The Author\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Husband &amp; Father Software Engineer\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0StrengthCentric Bitcoin Hodler\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0DeFi Veteran \u00a0 \ud83c\udf0d Everything Enthusiast \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\ud83d\udd25 Optimist Revolutionizing ideas. Simplifying complexity. Sharing knowledge.","sameAs":["https:\/\/facebook.com\/dpetkovski","https:\/\/www.instagram.com\/strengthcentric\/","https:\/\/twitter.com\/petkovskix"],"url":"http:\/\/localhost\/dpetkovski\/author\/petkovski\/"}]}},"authors":[{"term_id":4,"user_id":1,"is_guest":0,"slug":"petkovski","display_name":"D. Petkovski","avatar_url":"http:\/\/1.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"","first_name":"","description":"<span style=\"font-size: 23px\">D. Petkovski<\/span> <br> <br>\r\n\r\n\ud83d\udcd3 The Author\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  \u00a0 \u00a0 \u00a0 \u00a0<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f46a.svg\" alt=\"\ud83d\udc6a\" \/> Husband &amp; Father <\/span>\r\n<br>\r\n<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f5a5.svg\" alt=\"\ud83d\udda5\ufe0f\" \/> Software Engineer\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f4aa.svg\" alt=\"\ud83d\udcaa\" \/><\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">\u00a0StrengthCentric <\/span>\r\n<br>\r\n<span class=\"r-18u37iz\"><img class=\"r-4qtqp9 r-dflpy8 r-zw8f10 r-10akycc r-h9hxbl r-9cviqr\" src=\"https:\/\/abs.twimg.com\/hashflags\/Bitcoin_evergreen\/Bitcoin_evergreen.png\" alt=\"\" width=\"20\" height=\"20\" \/> <\/span> Bitcoin <span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">Hodler\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0   \u00a0                            \u00a0 \u00a0 \u00a0<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f4c8.svg\" alt=\"\ud83d\udcc8\" \/><\/span>\u00a0<span class=\"r-18u37iz\">DeFi<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"> Veteran <\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">\u00a0<\/span>\r\n<br>\r\n\ud83c\udf0d Everything Enthusiast              \u00a0 \u00a0 \u00a0 \u00a0   \u00a0 \u00a0 \u00a0              \u00a0   \u00a0\ud83d\udd25 Optimist <br><br>\r\n\r\nRevolutionizing ideas. Simplifying complexity. Sharing knowledge. \r\n"}],"_links":{"self":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/1920"}],"collection":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/comments?post=1920"}],"version-history":[{"count":7,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/1920\/revisions"}],"predecessor-version":[{"id":3196,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/1920\/revisions\/3196"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/media\/1922"}],"wp:attachment":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/media?parent=1920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/categories?post=1920"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/tags?post=1920"},{"taxonomy":"author","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/ppma_author?post=1920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}