Discover and read the best of Twitter Threads about #BrettonWoods
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#Thread #History #Facts #BrettonWoods
PART - 1 of a multi-part series on the rise of the US💲, US Hegemony and the current transition from a Unipolar to a Multipolar World.
US currency was pegged to gold until 1933 as per the Bretton Woods system agreed upon by 44 countries.
PART - 1 of a multi-part series on the rise of the US💲, US Hegemony and the current transition from a Unipolar to a Multipolar World.
US currency was pegged to gold until 1933 as per the Bretton Woods system agreed upon by 44 countries.
On April 5, 1933 a draconian announcement came in newspapers in US proclaiming the Executive Order 6102. It stated that anyone living in US, citizen/foreigner was required to turn in all gold bullion, gold coins and gold certificates to the US govt before May 1, 1933. The same a
applied to businesses and corporations. The government promised to pay the official price of $20.67 for each ounce submitted. However, violators could be imprisoned for up to ten years. Exceptions were - jewellers, industrial holdings, dentist's inventories and rare collectors.
The #COP27 Leaders Summit has officially started!
Major areas @E3G are looking out for
➡️Willingness for a deal on #LossAndDamage
➡️Plans to tackle emission reduction gap
➡️Action on global financial architecture revamp #Bridgetown #JETP
Follow 👇 below thread for live updates
Major areas @E3G are looking out for
➡️Willingness for a deal on #LossAndDamage
➡️Plans to tackle emission reduction gap
➡️Action on global financial architecture revamp #Bridgetown #JETP
Follow 👇 below thread for live updates
UNSG @antonioguterres called for a historic Climate Solidarity Pact between developed and developing countries 🌍
"We are on a highway to climate hell with our foot on the accelerator. Humanity is faced with a choice: cooperate or perish. Those who give up are sure to lose."
"We are on a highway to climate hell with our foot on the accelerator. Humanity is faced with a choice: cooperate or perish. Those who give up are sure to lose."
UAE 🇦🇪 President Mohammed Bin Zayed pledged to carry forward UNFCCC agenda at next year's #COP28 with the first #GlobalStocktake and ensure inclusion & representation of everyone, especially women and youth
Trust in #Dollar #UST as a reserve currency eroding rapidly, with yields on #US10Y #US2Y et al. exploding before our very eyes.
Every principle of global economic stability & equality and functions underlying the original #BrettonWoods agreement is more or less long gone.
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Every principle of global economic stability & equality and functions underlying the original #BrettonWoods agreement is more or less long gone.
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Due to the #petrodollar underpinning 85%+ of our global financial system, and because its abandonment would cause a hard reset (and the strength of #American industrial #militarycomplex), #DXY still reigns as #reservecurrency.
But the trust component is rapidly diminishing.
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But the trust component is rapidly diminishing.
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Obviously, I'm not predicting that we're going away from it as a reserve currency. Not deliberately, anyway.
But military might, a value derived from underlying commodities (RIP 1971), and trust (RIP 202X?) are historically the 3 musketeers keeping reserve currencies on top.
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But military might, a value derived from underlying commodities (RIP 1971), and trust (RIP 202X?) are historically the 3 musketeers keeping reserve currencies on top.
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President #Putin’s Full Remarks at the #Oil for #Ruble announcement | The Vineyard of the Saker
#Russia #oil #gas #commodities thesaker.is/president-puti…
#Russia #oil #gas #commodities thesaker.is/president-puti…
“Today I have signed an Executive Order that establishes the rules for #trade in Russian #NaturalGas with so-called unfriendly states. We offer counterparties from such countries a clear and transparent scheme. To purchase Russian natural gas, they must open ruble accounts…”
What we are witnessing here (potentially) is nothing less than the gradual conversion of the Russian ruble from a “soft” to a “hard” currency. Students in my international business class will appreciate the significance of this.
#G7 rejects Russia’s demand to pay for gas in #rubles
- #Putin announced last week that Russia would demand that “#unfriendly” countries pay for #naturalgas (#LNG) only in Russian currency from now on.
nationworldnews.com/germany-g7-rej…
- #Putin announced last week that Russia would demand that “#unfriendly” countries pay for #naturalgas (#LNG) only in Russian currency from now on.
nationworldnews.com/germany-g7-rej…
Russia’s #ruble payment plan leaves European gas buyers confused | 23 Mar, 2022
- “We can't predict at this moment what specific implications this will have for the gas trade,” Kehler
(it produces new flu waves called Covid19 producing billions in profits)
archive.ph/DE6eK
- “We can't predict at this moment what specific implications this will have for the gas trade,” Kehler
(it produces new flu waves called Covid19 producing billions in profits)
archive.ph/DE6eK
#Credibility of #dollar and #euro ‘destroyed’ – Putin | Mar 23
- Moscow will use #rubles in #gas deals with “hostile” countries, the Russian president says.
archive.ph/HDLhw
- Moscow will use #rubles in #gas deals with “hostile” countries, the Russian president says.
archive.ph/HDLhw
Aujourd'hui, nous fêtons le 50eme anniversaire de la monnaie basée sur la dette et de l'instabilité financière mondiale.
Le 15 août 1971, Nixon suspend "temporairement" les accords de #BrettonWoods en supprimant la convertibilité du dollar en or
Thread
Le 15 août 1971, Nixon suspend "temporairement" les accords de #BrettonWoods en supprimant la convertibilité du dollar en or
Thread
Tout commence en janvier 1965 quand la Banque de France converti systématiquement ses excédents de balance des paiements en or ce qui créa une forte pression sur le dollar.
Voici une vidéo d'archive du Président De Gaulle
Voici une vidéo d'archive du Président De Gaulle
Ainsi, en 1965, il échangea plus de 150M$. Ce qui hissa les réserves françaises d'or de 71,4% à 91,9% ! En 1971, Nixon mit fin à ce stratagème 100% frenchy en désindexant le dollar sur l'or, ce qui entraina une chute vertigineuse du dollar, et des devises en général, face à l'Or
John Maynard #Keynes is perhaps most famous for his 1936 Magnum Opus, The General #Theory of #Employment, #Interest, and #Money in which he argued for a more active role of #FiscalPolicy in #Macroeconomic management...
It is hardly disputable that #Keynes' work, and his subsequent roles during the #BrettonWoods era marked a significant intellectual shift in the way we have come to understand #Economics as a discipline...
