The Petrodollar, The Gold Standard, and The Federal Reserve: What You Need to Know

Recent articles have proclaimed the end of the petrodollar, so in this video Marcus Curtis discusses the history of money, the banking system, and the petrodollar to provide you with facts to counter the hype, misinformation, and conspiracy theories regarding the US dollar.
I'm Rod Saunders, founder of Jew and Greek. I’m a musician, web developer, and a student of philosophy and economics. I recently published my first book on Amazon entitled Defending the Faith: Word of Faith Apologetics. It’s a response to the numerous charges against and misrepresentations of the Word of Faith movement and theology. I also have a CD of original music on CD Baby entitled Gates of Pearl. “Jew and Greek” is a good name because the two civilizations that influenced Western civilization the most were those of the Judeo-Christian and Greek worlds. From the Jews we received our values and a monotheistic theology, and from the Greeks we got philosophy which brought us science, sports, the arts, democracy, and economics. As a result I discuss all of the above in this blog and in my videos.
***************************
My PayPal Account (for one time donations) - [e-mail]
My Patreon Account (for monthly donations) - / jewandgreek
My Blog - jewandgreek.com
My Twitter Account - / jewandgreek
My Facebook Page - JewAndGreek
My Book on Word of Faith Apologetics - www.amazon.com...
/ @jewandgreek
/ jewandgreek

[@TheFIame]

Been waiting for this one for a few months now 👌🏾 good work as always.

[@PropheticPlaces-rm9lp]

Thanks Guys For Confirming This. I Wasn't Fooled.

[@BrotherJohnElving]

I didnt know you had this video. Awesome. I will listen on my street outreach tomorrow. God bless you.

[@bringit2ya122]

Wow! Excellent job Rod!

[@suzeyc5301]

Thank you so much for sharing this information!

[@bridezeal]

Thanks

[@GabrielBelloMusic]

🔥🔥🔥🙌🏽

[@faithgal725]

I would like to find more info on current conspiracies and how to help people who are putting all their money into the dinar and bitcoin still waiting for the Great Reset. Very sad esp when so-called prophets fan the flames.

[@KentuckyGirl]

What about a woman going christian shows named Katherine Austin Fitts? Is she right or fear mongering?

[@JewandGreek]

I don't know anything about her. Does she pump gold and the crash of the dollar?

[@IndianaJoe0321]

He said to google Nixon Shock, so I did. The answer was that Nixon effectively ended the gold standard -- and there was nothing about a conspiracy theory. I'll put the direct quote/answer below.

[@IndianaJoe0321]

"President Richard Nixon's actions in 1971 effectively ended the gold standard for the U.S. dollar. Prior to the Nixon Shock, the Bretton Woods system allowed foreign governments to exchange U.S. dollars for gold at a fixed rate of $35 per ounce. When Nixon announced the suspension of this convertibility, it marked the end of the gold standard as it had been known.
This move meant that the U.S. dollar was no longer directly tied to gold, and currencies began to float relative to one another based on market conditions, rather than being pegged to a fixed gold value. Although Nixon framed this action as a temporary measure, the gold standard was never reinstated, leading to the modern system of fiat currencies."

[@IndianaJoe0321]

It also said, regarding the Bretton Woods system, that it "was a financial order established in 1944 during a conference held in Bretton Woods, New Hampshire. Its primary aim was to create a stable international monetary framework to promote economic growth and prevent competitive devaluations that had contributed to the Great Depression. Participating countries agreed to peg their currencies to the U.S. dollar, which was convertible to gold at a fixed rate of $35 per ounce. This created a stable exchange rate system with the U.S. dollar as the central reserve currency."

[@JewandGreek]

@@IndianaJoe0321 Here's what Wikipedia says about the Nixon Shock.
"The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon in 1971 in response to increasing inflation."
Nothing about ending the Gold Standard. Here's what Investopedia says.
"The Nixon Shock refers to the aftereffect of a set of economic policies announced by President Richard M. Nixon in 1971. Most notably, the policies eventually led to the collapse of the Bretton Woods system of fixed exchange rates that took effect after World War II."
Some people conflate the gold standard (where the public could convert gold to currency and vice versa) and the convertability of US dollars to gold bullion by foreign countries which was provided under Bretton Woods, and was effectively done away with by the Nixon Shock. I couldn't find the source for your quote so I can't address it.

[@IndianaJoe0321]

Thank you, @@JewandGreek -- I think you are correct about the conflating. Mea culpa.

[@marcuscurtismusic]

It's also important to note where the information is coming from. There are many sites and blogs that have conflicting information. FDR ended the gold standard in 1933 and effectively went after people who tried to settle their debts using gold. So what is the difference between what Nixon did and what FDR did? Various websites will have different perspectives but historically speaking, Once upon a time Americans could exchange their banknotes for gold.
"Gold certificates were issued by the United States Treasury as a form of representative money from 1865 to 1933. While the United States observed a gold standard, the certificates offered a more convenient way to pay in gold than the use of coins. The Public ownership of gold certificates was outlawed in 1933 and since then they have been available only to the Federal Reserve Banks, with book-entry certificates replacing the paper form." -Wikipedia
In fact, when I was a boy, it was illegal to own gold coins. America could no longer use gold for money, and they had to turn in all of their gold. The Bretton Woods agreement only allowed nations to exchange their dollars for gold. While this agreement was going on, it was still illegal for Americans to settle debts using gold or even owning gold outside Jewelry or other commodities like that. We could not trade dollars for gold. Only nations that signed on to Bretton Woods could do this. Finally, Gerald Ford signed legislation to reverse what FDR did and later on Ronald Reagan sign addition legislation to reverse what FDR did.