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Your Problem

Monetary systems are hard to care about until things start going obviously wrong.

Dec 02, 2021
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Your Problem

In 1971 US Treasury Secretary Connolly went to Rome and told the G-10 nations that the United States dollar is “our currency and your problem”.

Connolly intended his words to devalue the dollar, and it soon fell by around 20%. This made European nations with dollar holdings poorer than they had been before Connolly started talking.

And it came just after …

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