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

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

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

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