From Gold to Crypto: Evolving Currency Dynamics

This chapter explores the historical shift from gold-backed currencies to fiat systems, particularly after the U.S. abandoned the gold standard in 1971. It examines the implications of this transition on monetary policy, the petrodollar system, and the potential impact of cryptocurrencies on global power dynamics, especially in relation to energy resources like lithium and oil. The discussion also addresses the intersection of cryptocurrency with international sanctions, Bitcoin's energy consumption, and the contrasting models of Bitcoin and Ethereum.