Description
In this article, I will try to explain the destructive decisions of Paul Volcker, the former official of the Federal Reserve and the Treasury of the United States of America, and the decisions that originate in his misplaced legacy and what is rarely mentioned is his real role in the decision that I I consider it the most fateful and destructive monetary decision of the last half century, (the decision to separate the US dollar from gold) and also on the other hand, we try to examine the details of the opening of the US banking system, under the pressure of Wall Street, towards Offshore currencies or Hot money from Europe and increasingly from questionable sources, I will discuss.
The increasing inflation of the US dollar during the Vietnam War and Washington’s refusal to adjust the dollar as agreed in the 1944 Bretton Woods Agreement prompted trading partners such as France and Germany to exchange gold for dollars, as agreed in the Bretton Woods Agreement. It was specified to trade. As a result, with the increase in inflation in the United States, the demand to exchange dollars for gold became widespread.
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