United States Financial Environment After The Collapse Of Petrodollar System

The United States experienced an increase in the national debt as a result of the Vietnam War. According to TreasuryDirect, when the Vietnam War officially started in 1955, the national debt of the United States was $274 billion. When the Vietnam War officially ended in 1975, the national debt of the United States was $533 billion. So, the national debt of the United States was $15 billion shy of doubling over the Vietnam War’s course of 20 years. Specialist in Defense Policy and Budgets Stephen Daggett, says that the United States spent about $168 billion just in military aid on the war. Charles Hirschman, Samuel Preston, and Vu Manh Loi, authors of Vietnamese Casualties during the American War: A New Estimate, claims that 1.1 million Vietnamese and Vietcong fighters had been killed during the Vietnam War. So, the United States spent approximately

Today, the world economy, after witnessing the greatest hit in 70 years, is wondering what life will look like after the storm has settled. It is grappling with the fundamentals of unemployment, increasing inflation, current account deficits, negative growth, and zero interest rates along with it, depreciating the value of money. In the midst of all this the future of the U.S. dollar is uncertain. Will the dollar maintain its reserve currency status even after its depreciation and regain faith of the nations? Or will it be replaced by some other currency, shifting the power balances among the nations forever?

1965 is when the Vietnam War started. The Vietnam War cost 168 billion dollars because of the equipment, food, and resources that were needed. Along with that, it also caused economic problems, like political and money problems. The Vietnam War impacted the U.S. such as how it affected households financially, the job state of Americans, and the economy in general.

Ever since the Bretton Woods agreement in 1944, the U.S dollar became the world’s currency. Bretton Woods agreement was basically an agreement on which every country currency would be back up by the dollar, due to the fact that after WWII United States was the only one with the biggest gold reserve in the world. Although it was proposed as a good idea it had its flaws for one even though it help the U.S and other countries there was simply not enough gold to continue backing up the dollar value. Which lead to President Richard Nixon to abolish the gold standard economy. His abolish of a gold standard economy lead to a new proposal on which the dollar would be back by.

The Vietnam War cost billions of American dollars. After the events of the Gulf of Tonkin, the U.S. Congress gave President Johnson a blank check. This gave him unlimited power to wage war in Vietnam. The following years cost America billions of taxpayers dollars. This resulted in the U.S.

The Vietnam war destroyed america’s economy. The vietnam war cost America billions of dollars, which led to inflation

War is always expensive, and the Vietnam War was no exception. It was the third most expensive war in U.S. history (right after World War II and the war on terror), and cost $738 billion. Not only is war expensive budget-wise, but it also depletes resources back home in an attempt to supply the military overseas. Anti-war sentiments hurt consumer confidence (Source C), which drew another blow on the economy, and inflation just iced the economic cake. The detrimental effects of the war on the economy brought America out of the prosperity of the 60s into the crisis of the 70s (Source

Money during this time was very limited due to all the controversy. The guerilla warfare tactic the Vietnamese used against the America’s caused them to go about the war differently. They spent so much money trying to keep up with the advance weapons and chemicals they used against them and the lose of troops. The America’s paid

“A weak currency is the sign of a weak economy, and a weak economy leads to a weak nation.” – Ross Perot. The words of the 1992 Presidential candidate still ring true today, and in fact they have since the abolition of the gold standard in 1971 by President Nixon. Ever since that warm August day the United States has been on a death plunge into immaculate amounts of debt. However, by the establishment of the silver standard in the way I will explain to you today, makes it clear that action on such a policy must be taken.

As we go into our research on the financial crisis of 2007, we will try to answer some questions about what actually cause of the failure of our financial system, which almost collapse the dollar. While there are plenty of faults to go around on what cause this crisis, there was never a clear path on how to reverse the demand that was cause by repealing the Glass-Steagall Act of 1933. Although there has been other regulations and acts pass since the repeal of the Act of 1933, the ability to restore and strength our dollar has been an uphill battle to take control of it. What was known within our economic system to readjust and rebuilt

In 1974 the decline of the west was already predictable and U.S president Nixon made a deal with Saudi Arabia. In return for buying oil in dollars, the U.S would guarantee military security and the petrodollar was born. This guaranteed a steady supply of income for the U.S, as the Federal Reserve is a conglomeration of private companies taking a percentage of every dollar used. Rivero’s fascinating insight into the how the dollar plays a key role in U.S foreign policy explains the reasons behind many U.S actions today.

The Vietnam War was a proxy war fought between communist and anticommunist forces from 1960 to 1965. This war cost the US $650 billion dollars. From air power to infantry to chemicals, the weapons used in the Vietnam War were more devastating than those used in any previous conflict. United States and South Vietnamese forces relied heavily on their superior air power, which required an increased amount of money to sustain. There were several technological

The financial crisis of 2008 has been described as the worst financial crisis the world has seen since the great depression, but there are now murmurings of the potential for an even greater financial crisis, a currency crisis, caused by the demise of the US Dollar. The Dollar has been the reserve currency of the world since it took over from the Pound at the end of world war two, but we examine if it is about to crash spectacularly?

The Vietnam War harmed the U.S. economy extremely. The U.S. had emptied some $168 billion into the war, yet the genuine cost of the contention

Personally, I feel that the greatest costs of the Vietnam war were the lives lost, the effect it had on U.S soldiers, the division it created throughout the country, and the newfound economic issues. Initially, I believe that the most profound cost was the numerous American lives lost. By the war's peak, the number of American soldiers involved in the conflict reached a high of about 500,000. Of those 500,000 involved, 58,000 fell victim to the war. It may not seem too dastardly, but many soldiers recruited during this time were volunteers or were drafted at a young age. Their lack of experience and proper training