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Delete Currency from the IOU

Delete Currency from the IOU

Aug 6th, 2022

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How to Delete Currency from the IOU

5 out of 5

72 votes

On March 31, 2022, Monaco 64 discussed the impending end of the dollar's "IOU nothing" system, a concept introduced by John Exter, after nearly 50 years. Focus was placed on the significance of the petrodollar and the less-discussed Smithsonian Agreement, which is pertinent considering 2023's potential for economic shifts akin to a jubilee. The discussion highlighted recent Financial Times articles indicating the challenges of reversing current economic trends, particularly in relation to the growing ties between Russia and China and the U.S. efforts to supply natural gas to Europe amid escalating global tensions. The overarching theme suggests a critical turning point in international economics.

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