Banking - Petro Dollar
Topic : The Petro Dollar -- As related to the end of the Gold Backed Currency
Basic Information
After World War 2 Agreements were made to use the US Dollar for global trade. The agreement was made under an honor system which stated the United States would always print money in accordance with Gold as collateral to ensure that all countries trading in Dollars were trading in a currency with value. In the early 1970s the US broke the connection between the currency and Gold security and in doing so, they created global currency chaos locking the entire world into a Ponzi scheme of sorts.
1-2 hours would make you amazingly knowledgeable as it relates to this topic
Basic Information
After World War 2 Agreements were made to use the US Dollar for global trade. The agreement was made under an honor system which stated the United States would always print money in accordance with Gold as collateral to ensure that all countries trading in Dollars were trading in a currency with value. In the early 1970s the US broke the connection between the currency and Gold security and in doing so, they created global currency chaos locking the entire world into a Ponzi scheme of sorts.
1-2 hours would make you amazingly knowledgeable as it relates to this topic
- What is the Petro Dollar, Why is it Good for the US and bad for the world?
- How has the US used this Petro Dollar to affect the sovereignty of other countries?
- What wars and invasions have been initiated as a result of the Petro Dollar?
- What are Gold Collateral Accounts? When did they exist? Who is trying to reboot Gold backed currencies now?
