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America created the most powerful empire building tool ever created - the Dollar
They created a game that everyone began to play. And while the game continues the empire remains unassailable. But what happens if the world stops playing the game?
We discuss the full history - a complex financial architecture that gave America an “exorbitant privilege”
SOURCES
Bretton Woods Federal Reserve History
Nixon ends dollar-gold convertibility, August 15 1971 Federal Reserve History
De Gaulle & France repatriating gold The Gold Observer
Kissinger-Saudi petrodollar arrangement LegalClarity
No single formal petrodollar treaty the system emerged from a series of agreements NextBigFuture
Carter Doctrine (1980) Baker Institute
“Exorbitant privilege” coined by French Finance Minister Valéry Giscard d’Estaing ECB
SWIFT: 11,500 institutions, 200+ countries Stripe
Dollar = 58% of global foreign exchange reserves (2024) Federal Reserve
~20% of global oil trade in non-dollar currencies (2023) OilPrice.com
By islampodcastsAmerica created the most powerful empire building tool ever created - the Dollar
They created a game that everyone began to play. And while the game continues the empire remains unassailable. But what happens if the world stops playing the game?
We discuss the full history - a complex financial architecture that gave America an “exorbitant privilege”
SOURCES
Bretton Woods Federal Reserve History
Nixon ends dollar-gold convertibility, August 15 1971 Federal Reserve History
De Gaulle & France repatriating gold The Gold Observer
Kissinger-Saudi petrodollar arrangement LegalClarity
No single formal petrodollar treaty the system emerged from a series of agreements NextBigFuture
Carter Doctrine (1980) Baker Institute
“Exorbitant privilege” coined by French Finance Minister Valéry Giscard d’Estaing ECB
SWIFT: 11,500 institutions, 200+ countries Stripe
Dollar = 58% of global foreign exchange reserves (2024) Federal Reserve
~20% of global oil trade in non-dollar currencies (2023) OilPrice.com