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BREAKDOWN: The History of the Dollar System From Bretton Woods to QE Infinity, Feat. Luke Gromen

A historic look at how we went from the Bretton Woods system of gold-backed USD to the QE Infinity of today.

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QE infinity. Corporate bailouts. Nudgin UBI. The incredible economic phenomena going on now didn’t happen out of the blue. They are the byproducts of a key events spread across the 70 year history of the US dollar led global monetary system.

Luke Gromen is the founder of Forest From The Trees, a macro/thematic research firm. In this episode, Luke provides a TL;DR on those key events that got us to where we are today, including:

  • Bretton Woods and why the world went on a USD-based system rather than Keynes idea for a non-sovereign ‘bancor’ world reserve currency
  • The move to the Petrodollar in the 1970s
  • The financialization of commodities that started in the 1980s
  • The monetary policy vacuum after the Cold War ended
  • How a shift in executive compensation rules led to many of today’s problems with Wall Street
  • The export of Treasury Bills as a business model
  • The fallout of 2008 globally and domestically
  • The end of Treasury Bill buying in 2014
  • Why the Fed is the only sugar daddy left