4 ms·
The "petrodollar". But more fundamentally the bit of Bretton Woods that survived was the deal that the United States would guarantee the security of global trad
by aristus 3y ago
The "petrodollar". But more fundamentally the bit of Bretton Woods that survived was the deal that the United States would guarantee the security of global trade (that's the Navy's real mission) in exchange for a discount on imports. Unlinking from gold only cemented their position.
https://en.m.wikipedia.org/wiki/Petrocurrency https://en.m.wikipedia.org/wiki/Petrocurrency