Rise and fall of US-led neocolonial financial order: From Bretton Woods to BRICS
Geopolitical Economy Report
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The History of the US Dollar
In 1950, the US starts this war on Korea that kills 3 million Koreans. And in order to pay for that war, the US essentially printed more money. By 1971, Richard Nixon ends the convertibility of the dollar into gold. That ends and the dollar becomes freely floating. The Bretton Woods system was created one to benefit the United States with its currency as the global reserve currency.
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