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Demystifying the Petrodollar Scheme with Alex Gladstein (WiM082)
The "What is Money?" Show
The Balance of Payments Between Nation States
Gold was effectually enforcing this balance of payments among nations. This was a free market mechanism that mapped rit just like, if a country's rendering valuable goods and services to the global economy,. Its drawing gold infloes, so as creating an income for itself. And yet vice versa. If it's importing more than its it's consuming more than its providing, then it would have gold outflows. This is whatman and equilibrium, a dynamic equilibrium among nation states. You could say that was kind of like a global implementation of skin in the game. Y governments were accountable to their actions, effectively through the gold standredand it's important to point out that there's a difference between
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