◈ Explanation⚡ Quick ReadAdvancedGovernment & Fiscal Policy › Fiscal Policy
The Petrodollar System — How Oil Built Dollar Dominance
Since 1974, oil has been priced in dollars. This arrangement — the petrodollar system — has underpinned U.S. dollar dominance for 50 years. Here's how it was built, how it works, and whether it's beginning to crack.
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◈ Explanation🔬 Deep DiveAdvancedGovernment & Fiscal Policy › Fiscal Policy
Nixon Closes the Gold Window — The Day That Changed Money
On August 15, 1971, Richard Nixon ended the convertibility of the dollar to gold. It was the most consequential monetary policy decision of the 20th century — and most people have never heard of it.
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