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TIP574: Broken Money 1/2 w/ Lyn Alden
We Study Billionaires - The Investor’s Podcast Network
The Evolution of Monetary Systems
The global financial system has transitioned from a gold-backed system to a dollar-based system. In the gold-backed system, countries could easily manipulate their currency to fund wars. The Bretton Woods system replaced this, but it eventually broke due to the increasing number of dollars compared to the amount of gold available. The current system, the euro dollar system, relies on the dollar as the global currency. This gives the US economic and military power, but also causes challenges such as a structural trade deficit.
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