"We Don't Need Central Banks" w/ Richard Werner (WiM581)
The "What is Money?" Show
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From Gold to Petrodollars: A Monetary Shift
This chapter explores the historical transition from the gold standard to the petrodollar system, triggered by the Nixon shock of 1971. It examines the implications of US monetary policies on international relations, particularly with European nations, and recounts the tensions arising from France's push for gold redemption. The discussion further links these events to the broader dynamics of geopolitical influence and economic stability, particularly through alliances with oil-rich countries like Saudi Arabia.
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