Introducing
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
Financial Capitalism
-Foreign Direct Investment (FDIs)
-International Bank Lending
-International Bonds
-Portfolio Investments
-International Equities
-'New' Financial Instruments
-Development Assistance
-International Monetary Flows
Financial Capitalism
Bretton woods Gold Standard,
Post-WW II
The BWS required that every currency had a fixed exchange rate to the dollar, with the dollar fixed in terms of gold at $35.00 an ounce (Held, et al. 200).
The Nixion Asdministration decoupled the Dollar from the Bretton Woods Gold Standard.
In 1970s the dollar went from a gold certificate backed system, to a monetized, fiat system, the value of money is based on supply, circulation, interest rates.
Classical Gold Standard, 1870 - 1914.
During the 19th century the values of major currencies were fixed to the price of gold, providing the basis for a system of fixed exchange of rates; classical gold standard.
1850 to 1910 Gold remained at a stable average, $18.94/ oz.
1920 to 1970 Gold remained at a stable average, $30.19/ oz.
1980 to 2010 Gold increased in value, and prices fluctuate, $ 1,228.56/ oz.
What Else Happened in the 1970s
What Are the Effects to the Financialization of the World Economy?
Oil Producing Exporting Countries (OPEC) imposed an Oil embargo, competition begins from Europe and Japan, and other countries around the world competing with US manufacturing.
K-wave cycle indicates a pattern of recessions and depressions going back to 1812. Economic crisis patterns were about 50 to 60 years. In our current period, the k-wave cycle is getting shorter and shorter: 1993, Mexican Peso; 1997, the Tiger Markets; 1999, Chile; 2000, Argentina; 2000, USA; 2008, European Union Financial Crisis; and 2012, China Economy slowing.
What is Finance Capitalism?
A switch was made in the mid 1970s. A new commodity was used to function as a new monetary system of exchange, petrodollars. All exchanges for oil are to be done by petrodollars, eventually petrodollars became the standard exchange for all global trade.
U.S. Financial Foreign Debt
Can best be defined as cross-border flows of assets and loans, both long-term and short-term, and differentiated in to several types:
Global DGP: $71.62 Trillion
U.S. GDP: $15.6 Trillion
China GDP: $8.227 Trillion