stunning insights from new analysis by @CreditSuisse:
💥 We are witnessing the birth of "a new world monetary order"
💥 Russia-Ukraine crisis centers on rising allure of "outside" money over "inside" money
💥"Money" will never be the same again…and #Bitcoin is poised to benefit pic.twitter.com/DXnr5ChHgS
— Sophia Zaller 🌋 (@sophiamzaller) March 8, 2022
- Zoltan Pozsar Says We’re Witnessing Birth of a New World Monetary Order
by Chaahat Girdhar, https://coincodecap.com/
Credit Suisse with over $800 Billion assets under management said in a recent newsletter that “We are witnessing the birth of Bretton Woods III – a new world (monetary) order centered around commodity-based currencies in the East that will likely weaken the Eurodollar system and also contribute to inflationary forces in the West.” According to Credit Suisse (CS) short-term rate strategist Zoltan Pozsar, the United States is in the midst of a commodity crisis that is spawning a new world monetary order that will eventually weaken the current dollar-based system and lead to higher inflation in the West.
The Bretton Woods agreement (named after the conference location in Bretton Woods, New Hampshire) was negotiated by 44 countries as World War II was coming to an end, and it established gold as the basis for the US dollar, with other currencies then pegged to the greenback. This structure began to fray in the 1960s. It started to fray as the United States’ trade deficits became too large to ignore, and it collapsed completely in 1971 when the United States abandoned the dollar-gold link.