The "What is Money?" Show

World History Told Through the Lens of Money with Niko Jilch (WiM336)

Jul 7, 2023
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ANECDOTE

De Gaulle and the Gold Window

  • In 1971, French President Charles de Gaulle challenged the US dollar's dominance by demanding gold exchange.
  • Nixon responded by closing the 'gold window', devaluing the dollar and prompting the 'oil crisis'.
INSIGHT

Eurozone's Gold Reserves

  • The Eurozone, not exclusively the EU, holds the largest gold reserves globally, exceeding even the US.
  • This gold plays a key role in the Euro's structure and indirectly links it to energy markets.
INSIGHT

Euro and Bitcoin Parallels

  • The euro, designed as an independent, inflation-resistant currency, shares some parallels with Bitcoin's decentralized nature.
  • Both challenge the traditional nation-state control over monetary policy.
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