It’s no secret that the United States of America became a superpower as a result of World War 2. Even before the war officially concluded, the United States secured its long-term economic viability with the Bretton Woods Agreement.
The upshot of that 1944 meeting of delegates from 44 countries in Bretton Woods, New Hampshire was the establishment of both the International Monetary Fund (IMF) and the World Bank. But more importantly, the agreement replaced the gold standard with the U.S. dollar as the global currency. In short, America became the dominant power in the world economy.
It was a shrewd shift that gave the dollar more value relative to other currencies. But it was also secure and practical: the United States held three quarters of the world’s supply of gold, which made the U.S. the only country with enough gold to back its currency — the dollar — as a replacement for the gold standard.
But this post-war agreement was abandoned in 1971 when President Nixon announced he would unshackle the U.S. from its promise that a dollar was worth 1/35th of an ounce of gold. Since then, the dollar’s value has gone from objective to subjective; from $35 an ounce of gold to whatever people think it’s worth.
humanevents.com/2022/03/17/china-is-using-oil-to-de-dollarize-the-world-economy/
- New York Post: Front Page: “Joe’s Train Wreck”
- A large fire is spreading from a pallet yard behind the US Foods distribution center in Phoenix, Arizona
- Madison Cawthorn Kicked Out of Congress for Blowing the Whistle on GOP Orgies and Calling Out Zelensky
- From 1958, 2003/06 – CDC Vaccine Adverse Events, Smallpox – Holy Hell
- A “Smallpox-Like Virus” Has Now Spread To Spain, Portugal And The United States
- UTTER CARNAGE: The Stock Market Is Coming Apart Like A 20 Dollar Suit As Fear Sweeps Through Wall Street
- CRISIS IN SRI LANKA, No Gas, No Food, Country is Bankrupt, Politicians Being Beat, Murdered, Gov Buildings on Fire, Over 3000 killed in last 24 hours
- 5th Circuit Court finds SEC operates unconstitutionally
- War Is Over But They Won’t Tell You
- The Biden Admin Calls for End of First and Second Amendment in Response to Buffalo Shooting
Views: 8