Summary of How America's STRATEGY made US DOLLAR the MOST POWERFUL CURRENCY in the WORLD? : Case study

This is an AI generated summary. There may be inaccuracies.
Summarize another video · Purchase summarize.tech Premium

00:00:00 - 00:15:00

The United States dollar is the most powerful currency in the world because of the country's strong economy. The strategy employed by the Presidents of the United States to create this unprecedented power was to engage in war first as war merchants and then as war participants. By conducting business during the two most expensive wars in world history, the US was able to make a lot of money and accumulate vast amounts of gold. This allowed the US to become the global economic kingpin and the most powerful currency in the world.

  • 00:00:00 The strength of a nation's currency is based on the strength of that nation's economy. The American economy is by far the strongest in the world, which led to the dominance of the dollar as the world's most powerful currency. The strategy employed by the Presidents of the United States to create this unprecedented power was to engage in war first as war merchants and then as war participants. By conducting business during the two most expensive wars in world history, the US was able to make a lot of money and accumulate vast amounts of gold. This allowed the US to become the global economic kingpin.
  • 00:05:00 The three phases of the rise of the US dollar include the establishment of the world bank and the international monetary fund, the development of oil, and the suspension of its convertibility into gold. This last event made the US dollar the most powerful currency in the world.
  • 00:10:00 The United States became the most powerful currency in the world by using the swift network to make international payments. The swift network is a system of banks and financial institutions that facilitates the transfer of money around the world. Because many countries have accounts with American banks, the US has an advantage in trade. If a country does something that displeases the US, it can freeze its currency's account, preventing it from trading with other countries.
  • 00:15:00 The video discusses how the United States became the most powerful currency in the world by devaluing its currency relative to other currencies. The example used is the rupee vs. the dollar before and after liberalization in India. Since 2019, the rupee has gone from 70 to 80 rupees per dollar, but the United States' dollar reserves have doubled to over 642 billion dollars.

Copyright © 2024 Summarize, LLC. All rights reserved. · Terms of Service · Privacy Policy · As an Amazon Associate, summarize.tech earns from qualifying purchases.