Thread by @DeviPrasadRao8

@Mahesh10816 @JumbuTweeple Typing as it comes, please bear with me:
The Bretton Woods system was created in the aftermath of WW2 by the winning allies. IMF, World Bank and the framework for the international monetary system was set up (favourable to the US).

Under this system, countries could print as
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@Mahesh10816 @JumbuTweeple currency as they needed provided it was backed by assets, typically Gold, for it easily liquid and a store of value

This was called the Gold Standard. It meant that if you return $1000 to the US Fed, they would have to give you $1000 worth of Gold

Till Nixon became President
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@Mahesh10816 @JumbuTweeple Under Nixon, it was suspected that the US was printing currency but not putting an equivalent amount of Gold into their reserves

The French got wind of this and started returning US$. This meant, at one point of time, the US would run out of Gold

Nixon announced that the US

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@Mahesh10816 @JumbuTweeple exiting the Gold Standard & would freely print currency

This gave them a HUGE advantage and all countries had to abandon the Gold Standard to get rid of their handicap. Everyone started printing currency as per their whims or Fiat Currency (printed by a fiat)

By this time,

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@Mahesh10816 @JumbuTweeple the US has come to an agreement with Saudi Arabia that they would protect the Kingdom if OPEC would trade only in US dollars. This ensured that the world needed to hold $ to buy crude oil. This is termed as petro-dollars

Gaddafi suggested they shift to Euro, gold or a

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@Mahesh10816 @JumbuTweeple pan-African currency & dump US$. Shortly after this, Gaddafi was killed

Because of its premier status, US debt is considered safest. The day the world decides not to buy US bonds or not to use US$, they will be beggars coz they have ZERO foreign currency reserves

Hope it helped

@Mahesh10816 @JumbuTweeple Some examples of how the world is silently rigged in favour of Anglo-Saxon dominance

Every day, an American company, Intercontinental Exchange (ICE) publishes London Interbank Offered Rate (LIBOR). This is a rate at which banks say they're willing to lend risk-free to other

@Mahesh10816 @JumbuTweeple Banks

This impacts bank lending ACROSS the world as int'l loans are priced + or - LIBOR. A typical LIBOR-linked interest rate would read as LIBOR + 0.35% or LIBOR - .19%

Another example is Society for Worldwide Interbank Financial Telecommunications or SWIFT, the system for

@Mahesh10816 @JumbuTweeple international fund transfers. It is based out of NYC & so under US jurisdiction. The US State Dept sanctioned the Chief Executive of Hong Kong Carrie Lam and because of this she had to close her Bank account in Hong Kong and receive her salary in cash. She can't have a credit

@Mahesh10816 @JumbuTweeple card, bank account or any bank relationship coz any Bank that has her as a customer will be breaking the law in NYC

This is soft, unseen power of the USA

We only see the military power, which is unrivaled too
They have a military budget bigger than the next top 30 countries,

@Mahesh10816 @JumbuTweeple they have an est 600 overseas military bases, next being Russia, UK..., all < 20
Huge difference!

USA's power emanates from its geography (b/n 2 oceans & Canada/Mexico not military threats), vast natural resources, petro dollars, military, academia & IP rights
Thanks for reading