Background It is indeed remarkable the propensity of our esteemed decision makers to ignore scientists’ warnings. Case in point, the March 1912 issue of Popular Mechanics correctly predicted that coal burning would accumulate carbon dioxide in the atmosphere and cause a greenhouse effect. Did the industrialized countries heed? The answer … Continue reading
Category Archives: The Dollar
Historical Record
Breton Woods Roots In 1944, with the approaching defeat of Germany all but certain, representatives of forty-four nations met in Bretton Woods, New Hampshire to create a new international monetary system. This Bretton Woods System, which became fully operational in 1958, was essentially a mechanism to settle international accounts in … Continue reading
Defending the Dollar
Largely ignored by mainstream media, the dollar’s monopoly on global oil transactions is coming to an end. On March 26, 2018 the Shanghai Futures Exchange began trading oil in yuan (or renminbi), China’s currency. The ramifications of this event cannot be overstated. Some keen observers, as in this article, have eloquently analyzed … Continue reading
Hydrogen Exports as a Specific Special Drawing Rights (SDR) Criterion
January 29, 2019 Western Reserve Currencies and the Quest for Dominance Historically, shifts in reserve currencies have brought pivotal changes in the global balance of power. Beginning with the 15th Century, which marked Western Europe’s global ascendancy, the currencies of the empires of Portugal (1450-1530), Spain (1530-1640), the Netherlands (1640-1720), … Continue reading
Dollar Graphs -2015
Dollar vs. gold & oil Dollar vs. yuan Dollar vs. euro
Saving the Dollar and Preserving Life
October 8, 2016 “… of the three powers –the power of armies, of alliances, and of money- the third is perhaps the most dependable weapon. Such accumulation of treasure is regarded by other states as a threat of war, and if it were not for the difficulties in learning the … Continue reading
Attack on Paper Money Laws
Paper money, paper money, and paper money! Is now, in several of the states, both the bubble and the iniquity of the day. That there are some bad people concerned in schemes of this kind cannot be doubted, but the far greater part are misled. People are so bewildered upon … Continue reading
Universal Value Standard For All Currencies
Little did President Richard Nixon know, as he announced on television that fateful Friday, August 13th, 1971 the unilateral cancellation of the direct convertibility of the United States dollar to gold, that within just two generations his own words would epitomize the root cause of the American economy’s predicament: “But … Continue reading
The Nixon Shock
The Nixon Shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct convertibility of the United States dollar to gold. While Nixon’s actions did not formally abolish the existing Bretton Woods system … Continue reading
The Petrodollar
Petrodollar refers to United States dollars earned through the sale of its petroleum (oil) to another country. Origin In 1971 Richard Nixon was forced to close the gold window taking the U.S. off the gold standard and setting into motion a massive devaluation of the U.S. dollar. In an effort … Continue reading