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 currency

The move to the petrodollar in the 1970s

The financialization of commodities that started in the 1980s

The monetary policy vacuum after the Cold War ended

How a shift in executive compensation rules led to many of today’s problems with Wall Street

The export of Treasury bills as a business model

The economic fallout of 2008 globally and domestically

The end of Treasury bill buying in 2014

Why the Federal Reserve is the only sugar daddy left

Find our guest online:
Website: fftt-llc.com
Twitter: @LukeGromen
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