This video doesnt even touch on WWI. The US lent massive amounts of money to the allies which they then used to buy American products to consume during the war. Just a few years of this shifted the financial base of the entire world from London to New York. After that, there was really no turning back. The world was flooded with dollars. For most of our history those dollars were backed by real manufacturing output. Now those dollars are backed by mostly nothing, only facebook and google and a million other exporters of digital nothingness.
Helicopter
This video doesnt even touch on WWI. The US lent massive amounts of money to the allies which they then used to buy American products to consume during the war. Just a few years of this shifted the financial base of the entire world from London to New York. After that, there was really no turning back. The world was flooded with dollars. For most of our history those dollars were backed by real manufacturing output. Now those dollars are backed by mostly nothing, only facebook and google and a million other exporters of digital nothingness.