It is said that \unless you know your history, then you are doomed to repeat the mistakes of the past| or words to that effect.
So with so many of us talking about the 'brave new worlds' of defi, decommerce and the like as components of a replacement system for the old economic order, we think it is important that we all have, at least, a basic grasp of the instruments and institutions that shaped the 'Good Old Bad Old Days'....the Reserve Bank, the Gold Standard, Inflation and it's evil half brother, Staflation...
So today's 'starter for ten' is a rerun of an episode of The Part-Time Show podcast featuring Drr Kapil Amarasinghe as he looks into the origins of the fiat currency system, outlines how and why the USD emerged as the de facto dominant global reserve currency along with a look into it's possible future.
A history of the Petrodollar and the future of the USD
Part 2 of today's offering involves a reference link (well, more of a tweetstorm) into a new book by Alex Gladstein revealing some of the insights he garnered whilst researching the subject of the "Petrodollar'.
Have a great Sunday!