Every American living in the U.S. today has lived in a dollar-dominated world. After World War I, the dollar replaced the British pound as the world’s strongest currency after the war decimated and depleted Europe’s economies. The Bretton Wood Agreement in 1944 solidified the dollar’s standing as the international trade currency. In 1973, the ” petro-dollar ” was born, with all oil purchases transacted through the U.S. dollar.
The U.S. dollar’s dominance has funded our way of life without collapsing on our own debt and secured our place as the world’s leading superpower.
Until now.
The dollar is under the greatest attack since it rose to its place of prominence after World War I. Led by China and Russia, the BRICS alliance , composed of Brazil, Russia, India, China, and South Africa, aims to create a “multi-polar” world where the yuan and ruble provide an alternative currency for those who want to […]
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