End of an Era: The Rise and Fall of the Petrodollar System
By GCRU Gold News on Saturday, July 23 2016, 01:21 - Permalink
From a Gold-Based Monetary System to the Petrodollar System
Former U.S. Senator Ron Paul explains that “understanding the Petrodollar system and the forces affecting it, is the best way to predict when the U.S. Dollar will collapse.” The origins of the petrodollar system go back to the Bretton Woods system, the 1944 post-war agreement, which made the U.S. Dollar the sole reserve currency.