Yahoo Finance ENCORE: Luke Gromen on the History and (Declining) Future of the Global Dollar System
As some start to wonder about a post-Bretton Woods economic system, macro analyst Luke Gromen explains how that post-World War II system came to be.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com and Nexo.io.
Related: Bitcoin News Roundup for Nov. 30, 2020
One of the most significant macroeconomic questions facing the world is what the future of the global reserve system, dominated for the last 80 years by the U.S. dollar, holds.
Today’s episode is a replay of NLW’s epic conversation with macro analyst Luke Gromen from April 2020. In it, Luke discusses the entire history of that U.S. dollar system, including:
Bretton Woods and why the world went on a USD-based system rather than John Maynard 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 economic fallout of 2008 globally and domestically
The end of Treasury bill buying in 2014
Why the Federal Reserve is the only sugar daddy left
Find our guest online:
Website: fftt-llc.com
Twitter: @LukeGromen
See also: Lyn Alden on Money Printing, Bitcoin and the End of an 80-Year Debt Cycle
Related: How Bitcoin Gets to $100,000
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
