BREAKDOWN: ENCORE – Luke Gromen on the History and (Declining) Future of the Global Dollar System

As some start to wonder about a post-Bretton Woods economic system, macro analyst Luke Gromen explains how that post-World War II system came to be. This episode is sponsored by Crypto.com and Nexo.io. One of the most significant macroeconomic questions facing the world is what the future of the global reserve system, dominated for the last 80 years by the U.S. dollar, holds.  Today’s episode is a replay of NLW’s epic conversation with macro analyst Luke Gromen from April 2020. In it, Luke discusses the entire history of that U.S. dollar system, including:Bretton Woods and why the world went on a USD-based system rather than John Maynard Keynes’ idea for a non-sovereign “bancor” world reserve currencyThe move to the petrodollar in the 1970sThe financialization of commodities that started in the 1980sThe monetary policy vacuum after the Cold War endedHow a shift in executive compensation rules led to many of today’s problems with Wall StreetThe export of Treasury bills as a business modelThe economic fallout of 2008 globally and domesticallyThe end of Treasury bill buying in 2014Why the Federal Reserve is the only sugar daddy left Find our guest online: Website: fftt-llc.com Twitter: @LukeGromen See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.