Have you ever heard of the Breton Woods agreement ? and why the dollar is the barometer of the world’s economies ? dollars are simply papers that are printed by American machines, and then the value of the paper is determined by the number that you will write on it, as it is 10, 100 or 500 dollars, while the three papers are the same value and the material and the same illusion only the different number printed.
Here is the answer in this article:
The Breton Woods Agreement : the dollar use
The Breton Woods Agreement of 1944, this agreement is what made the dollar the international monetary standard for all the currencies of the world, as America pledged under that agreement and in front of the countries of the world that it would have a cover of gold equivalent to the dollars it offered, and the agreement stipulates that whoever delivers to America 35 dollars America received an ounce of gold.
Meaning that if you go to the US Central Bank, you can exchange 35 dollars for an ounce of gold, and the United States of America guarantees that for you, and at that time the dollar became called (hard currency) and gained international confidence, so that the countries were reassured of the existence of its gold coverage, so the countries gathered more An amount of dollars in its vaults in the hope of converting its value into gold at any time.
And this situation continued for a long time until President Nixon, in the seventies, came out to the world suddenly in a scene that no one could imagine even in science fiction movies, to shock all the inhabitants of the globe all that the United States would not hand over the dollar holders the equivalent of gold !!, and for the world to discover that the states The United States was printing dollars far from the presence of a cover of gold and that it bought the wealth of the peoples and possessed the wealth of the world with a handful of green leaves without a golden cover.
That is, dollars are simply papers that are printed by American machines, and then the value of the paper is determined by the number that you will write on it, as it is 10, 100 or 500 dollars, while the three papers are the same value and the material and the same illusion only the different number printed.
Nixon announced at the time that the dollar would float, meaning it would go down in the market under speculation, and its exchange rate would be determined by supply and demand, on the grounds that the dollar was strong in America’s reputation and economy, as if this economic strength was not a force derived from that major trick that the world has taken advantage of !!
No country has been able to object or declare the rejection of this new monetary system, because this objection will mean at that time that all the billions of dollars that these countries stored in their banks will become worthless paper, which is a more catastrophic result than what Nixon announced !!
This big incident was called Nixon shock worldwide, and it is enough for you to write (Nixon shock) in search engines to discover that it is an incident that has been written about thousands of pages, analyzes and studies, but it is absent from the people.
Nixon then said his famous word: (We should play the game as we made it, and they should play it as we put it in), and this system still exists today. America prints whatever paper it wants and buys the goods of all peoples with it.
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