The dollar: the great lie of the 20th century
In this article I am going to tell you the true story of the dollar, how it was born, how it became the world's reserve currency and how it lost its gold backing. I'm going to show you how the dollar is a tool of domination and exploitation of the United States, which benefits from debt, war and consumerism. I am going to reveal to you how the dollar is a bubble that is about to burst and that threatens to drag the world into an unprecedented economic and social crisis.
The birth of the dollar
The dollar was born in 1785, when the United States Congress adopted the Spanish dollar as the country's monetary unit. The Spanish dollar was a silver coin that circulated throughout the world and had a high precious metal content. The US dollar was minted according to the same pattern and its value was fixed in relation to gold and silver. Thus, one dollar was equivalent to 24.75 grams of silver or 1.6 grams of gold.
The US dollar was based on the principle of the gold standard, which stated that each bill or coin issued must have an equivalent backing in gold or silver. In this way, the value and stability of the currency was guaranteed and inflation and devaluation were avoided. The gold standard was the international monetary system that governed trade relations between countries.
The rise of the dollar
The US dollar established itself as the world's reserve currency after World War II, when the United States emerged as the main economic and military power on the planet. In 1944, the Bretton Woods conference was held, which agreed on a new international monetary system based on the dollar and gold. Under this system, the dollar was the only currency convertible into gold at a fixed rate of $35 per ounce, and the rest of the currencies were pegged to the dollar with a maximum fluctuation of 1%. In addition, the International Monetary Fund (IMF) and the World Bank were created, which aimed to promote financial cooperation and economic development.
The Bretton Woods system gave the United States a privileged position, since it could issue dollars without restrictions and use them to finance its economic and military expansion. The United States became the world's leading exporter and importer, and the dollar became the reference currency for international trade and central bank reserves. The dollar was the most demanded and reliable currency in the world.
The end of the gold standard
The Bretton Woods system began to show its cracks in the late 1960s, when the United States entered a trade and fiscal deficit due to its spending on the Vietnam War and the space program. These expenses were financed by the issuance of dollars without gold backing, which generated inflation and a loss of confidence in the US currency. Some countries, such as France, began demanding the conversion of their dollars into gold, causing an outflow of gold reserves from the United States.
Faced with this situation, President Richard Nixon made a historic decision: on August 15, 1971, he announced the suspension of the convertibility of the dollar into gold, which marked the end of the gold standard and the Bretton Woods system. Nixon declared that the dollar was going to be allowed to float freely in the market, without any metallic backing. This measure is known as the “Nixon shock” and was the largest default in history.
The collapse of the dollar
The fiat dollar is a big lie that is about to be exposed. The dollar has no real value, but is based on a collective illusion that can be broken at any moment. The dollar is at risk of losing its status as the world's reserve currency, amid the rise of other alternative currencies and assets, such as the euro, yuan, gold, bitcoin and cryptocurrencies. The dollar is at risk of hyperinflation and a loss of confidence, given the massive printing of money by the Federal Reserve, which has injected more than $6 trillion since the start of the pandemic. The dollar is at risk of collapsing, faced with an unprecedented economic and social crisis, which can trigger a war, a revolution or a paradigm shift.
The dollar is the great lie of the 20th century, which has allowed the United States to live beyond its means and at the expense of the rest of the world. The dollar is the great scam of history, which has deceived millions of people who have trusted in its value and stability. The dollar is the great bubble that is about to burst, and that threatens to drag the world into an economic and social catastrophe. The dollar is the big problem that must be solved, and that requires an urgent and radical solution.
