THE END OF SUPER IMPERIALISM by Alex Gladstein - Bitcoin Magazine Audible
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The Secret of the Treasury Bill System
Foreign central banks received dollars from their exporters and commercial banks, hudson says. They also gave segnorage privilege to the us. As foreign nations earned a negative interest rate on american paper promises most years between the end of world war two and the fall of the berlin wall,. In effect, paying washington to hold their money on a real basis. America's cold war spending thus became a tax on foreigners. It was their central banks who financed the costs of the war. Nixon could have simply raised the ice of gold instead of defaulting entirely. But governments do not like admitting to their citizenry that they've been debasing the public's money.
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