Professor Elam

hursday April 27, 2023

The US is freezing foreign country assets on deposit here and blocking them from using hte SWIFT system.

The dollar became the world reserve currency at the 1944 hBretton Woods Agreement.

President Nixon's 1971 decision to abandon the the gold standard coupled wtih the dollar as the world reserve currency has resulted in massive dollar depreciation.

This is why the 16971 CHevy which cost  $3700 is now $37,000.  LBJ's first 100 B budget is now over $3 trillion, a number formerly only used in astronomy.

Asia Infrastructure Bank is another attempt to move away from the dollar.

Sadam Hussein had suggested substituting the EU for the Dollar in intl oil transactions, notice he then had his country invaded and is now dead.