The Great Simplification with Nate Hagens cover image

Alex Gladstein: "Debt Colonialism, The Petrodollar, and Bitcoin"

The Great Simplification with Nate Hagens

CHAPTER

Why the Federal Reserve's Interest Rate Rise Hurts People

A sharp sudden increase in interest rates by the Federal Reserve is causing a financial crisis abroad. Is this because foreign countries have to use the dollar and they denominate their debt in dollars? And so all of a sudden what they owe suddenly spikes in amount? Yeah, so I'll try to just briefly outline two phenomena which lead to this and then I'll explain why the rise in rates hurts people. Basically, you have Bretton Woods, right? You have World War II, you have the US and the Allies getting together in New Hampshire in a hotel to figure out what the international monetary system is going to look like.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner