#dollar #BrettonWoods #gold #petrodollar #natgas #Nixon #China #Russia #fiatcurrency #inflation #BRICS #ReserveCurrency #MultiPolarWorld
Video Chapters:
00:00 Introduction
01:50 The Smithsonian Agreement
07:05 The Petrodollar
08:13 Gold-backed or commodity basket?
09:42 The demise of "IOU Nothing" currencies
10:27 US to provide Europe with Natural Gas?
14:12 China & Russia alliance
17:07 Multipolar World
19:02 Market update
22:50 Conclusion
Today we will look back at the demise of the Bretton Woods and how the so-called dollar standard that President Nixon tried to create with the Smithsonian Agreement is quickly unraveling.
We will also look at how the West's efforts to stop the demise of the Petrodollar are failing as China and Russia and other BRIC nations have increased their ties even after the start of the Ukraine War.
John Exter's article on "IOU Nothing" Currencies: https://www.aier.org/research/currencies-today-are-iou-nothings/
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