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Our Monetary System

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Gabriel Tavas

on 20 September 2015

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Transcript of Our Monetary System

The System we have now
140 Years of Monetary History
First off, what is money?
Compiled by: Gabriel Tavas
Take a look around yourself
What could happen?
Our Monetary System
Explained by: Mike Maloney and Michael Synder
The Petrodollar System — The Current Backing of the Dollar
So why is it then that after so many
decades, the U.S. dollar remains
as the world reserve currency? The answer is simple: oil. After Richard
Nixon took the dollar off of the gold
standard in 1971, he struck a deal with Saudi Arabia and other countries rich in the "black gold". In return for American military protection, these countries would agree to sell oil
in U.S. dollars. With this agreement, it became obvious that the world was still going to have to go to the United States for its currency. In recent years, however, this system has begun to show signs of strain.
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