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1933 - President Franklin D. Roosevelt had gold confiscated and people were forced to accept paper money for their gold. The government needed people to adopt the inflated paper and they used force.
1940s - Bretton Woods Agreement created a collective international currency peg to the U.S. dollar which was in turn pegged to the price of gold.
1971 - President Nixon unilaterally cancelled the direct international convertibility of the US dollars to gold. Making the US government in charge of money supply and world money master.
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Banks loan money they don't have. Most hold a limited reserve to serve the few who decide to make redraws. When the majority decides to liquidate their bank accounts we have what is called a bank run.
In order to protect the banks, central banks were created to provide a gu...
We print money digitally. As a central bank, we have the ability to create money. And we do that by buying bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Rese...
Fiat money is a government-issued currency that is not backed by a commodity such as gold. Most paper notes started as being backed by a reserve of valuable commodities, usually gold (the "Gold Standard"). Tying a currency to gold limits inflation and money suppl...
We can measure the supply of money that exists in the market with main metrics:
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On March 3rd 1933, President Franklin D. Roosevelt closed all the banks in the U.S.A.
Banks held large amounts of Gold which were backing all the available U.S dollars. At those times there was a fixed exchange rate between U.S dollars and Gold.
Gold standard ended officially when pr...
After the Breton Woods agreement, all the world currencies were pegged to the dollar, which was in torn pegged on gold. But in 1974 the US dropped the gold backing and $ became free-floating. The US maintained their currency supremacy by making sure all the Middle East oil producers would only tr...
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