{"id":35851,"date":"2018-07-09T07:18:11","date_gmt":"2018-07-09T12:18:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35851"},"modified":"2018-07-09T07:18:11","modified_gmt":"2018-07-09T12:18:11","slug":"the-economic-history-of-the-world-in-one-minute","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35851","title":{"rendered":"The Economic History Of The World In One Minute"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-07-08\/economic-history-world-one-minute\"><span class=\"field field--name-title field--type-string field--label-hidden\">The Economic History Of The World In One Minute<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1722\" data-gtm-vis-first-on-screen-2077925_22=\"1722\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/decline-in-american-hegemony-1.jpg?itok=lvaf1mee\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/decline-in-american-hegemony-1.jpg?itok=lvaf1mee\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/decline-in-american-hegemony-1.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/decline-in-american-hegemony-1.jpg?itok=lvaf1mee 1x\" alt=\"\" width=\"500\" height=\"286\" data-entity-type=\"file\" data-entity-uuid=\"111dbcfc-f9b1-47bd-bbad-a4e1e33c778e\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p><strong><em>&#8220;&#8230;and America&#8217;s pre-eminence is over&#8221;<\/em><\/strong><\/p>\n<hr \/>\n<article class=\"MediaCard\n           MediaCard--mediaForward\n\n           cards-multimedia\n           customisable-border\" dir=\"ltr\" data-scribe=\"component:card\" data-publisher-id=\"5988062\"><\/p>\n<div class=\"MediaCard-media\">\n<div class=\"MediaCard-widthConstraint js-cspForcedStyle\" data-style=\"max-width: 2000px\">\n<div class=\"MediaCard-mediaContainer js-cspForcedStyle\" data-style=\"padding-bottom: 56.2500%\"><a class=\"MediaCard-mediaAsset MediaCard-mediaPlaceholder NaturalImage NaturalImage--fill js-playableMediaInterstitial\" href=\"https:\/\/twitter.com\/ValaAfshar\/status\/1015730439208816640\"><img decoding=\"async\" class=\"NaturalImage-image\" src=\"https:\/\/pbs.twimg.com\/amplify_video_thumb\/779310548865327104\/img\/vAN3zPqPZufwQ_DP?format=jpg&amp;name=small\" alt=\"\" data-image=\"https:\/\/pbs.twimg.com\/amplify_video_thumb\/779310548865327104\/img\/vAN3zPqPZufwQ_DP\" data-scribe=\"element:poster_image\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/article>\n<div class=\"EmbeddedTweet-tweet\">\n<blockquote class=\"Tweet h-entry js-tweetIdInfo subject expanded\" cite=\"https:\/\/twitter.com\/ValaAfshar\/status\/1015730439208816640\" data-tweet-id=\"1015730439208816640\" data-scribe=\"section:subject\">\n<div class=\"Tweet-header\"><a class=\"TweetAuthor-avatar Identity-avatar u-linkBlend\" href=\"https:\/\/twitter.com\/ValaAfshar\" data-scribe=\"element:user_link\" aria-label=\"Vala Afshar (screen name: ValaAfshar)\"><img decoding=\"async\" class=\"Avatar Avatar--edge\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1259558245\/vala_300dpi_normal.jpg\" alt=\"\" data-scribe=\"element:avatar\" data-src-2x=\"https:\/\/pbs.twimg.com\/profile_images\/1259558245\/vala_300dpi_bigger.jpg\" data-src-1x=\"https:\/\/pbs.twimg.com\/profile_images\/1259558245\/vala_300dpi_normal.jpg\" \/><\/a><\/p>\n<div class=\"TweetAuthor js-inViewportScribingTarget\" data-scribe=\"component:author\">\n<div class=\"TweetAuthor-nameScreenNameContainer\"><span class=\"TweetAuthor-decoratedName\"><span class=\"TweetAuthor-verifiedBadge\" data-scribe=\"element:verified_badge\"><b class=\"u-hiddenVisually\">\u2714<\/b><\/span><\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"Tweet-body e-entry-content\" data-scribe=\"component:tweet\">\n<p class=\"Tweet-text e-entry-title\" dir=\"ltr\" lang=\"en\">The economic history\u00a0of the world in one minute<\/p>\n<div class=\"Tweet-metadata dateline\"><a class=\"u-linkBlend u-url customisable-highlight long-permalink\" href=\"https:\/\/twitter.com\/ValaAfshar\/status\/1015730439208816640\" data-datetime=\"2018-07-07T22:53:02+0000\" data-scribe=\"element:full_timestamp\"><time class=\"dt-updated\" title=\"Time posted: July 07, 2018 22:53:02 (UTC)\" datetime=\"2018-07-07T22:53:02+0000\">6:53 PM &#8211; Jul 7, 2018<\/time><\/a><\/div>\n<\/div>\n<\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<div>\n<hr \/>\n<\/div>\n<div>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2012\/01\/20120103_JPM_reserve.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2012\/01\/20120103_JPM_reserve_0.png\" width=\"500\" height=\"423\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/news\/2014-01-29\/nothing-lasts-forever-world-bank-chief-economist-calls-end-dollar-reserve-currency\"><em>As we noted previously<\/em><\/a>, history did not end with the Cold War and, as Mark Twain put it, whilst <strong>history doesn\u2019t repeat it often rhymes<\/strong>. As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip. <strong>America\u2019s global economic dominance has been declining since 1998<\/strong>, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century\u2019s long economic anomaly. China has begun to return to the position in the global economy it occupied for millenia before the industrial revolution. Just as the dollar emerged to global reserve currency status as its economic might grew, so <strong>the chart below suggests the increasing push for de-dollarization across the &#8216;rest of the isolated world&#8217; may be a smart bet&#8230;<\/strong><\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/20140912_USANo2_0.jpg?itok=SJXwe5Mf\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/20140912_USANo2_0.jpg?itok=SJXwe5Mf\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/20140912_USANo2_0.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/20140912_USANo2_0.jpg?itok=SJXwe5Mf 1x\" alt=\"\" width=\"500\" height=\"258\" data-entity-type=\"file\" data-entity-uuid=\"76f55038-bbe8-4700-aef6-9140658a7716\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>The World Bank&#8217;s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.<\/p>\n<blockquote><p><strong>&#8220;The dominance of the greenback is the root cause of global financial and economic crises,&#8221; Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. &#8220;The solution to this is to replace the national currency with a global currency.&#8221;<\/strong><\/p><\/blockquote>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Economic History Of The World In One Minute &#8220;&#8230;and America&#8217;s pre-eminence is over&#8221; \u2714 The economic history\u00a0of the world in one minute 6:53 PM &#8211; Jul 7, 2018 As we noted previously, history did not end with the Cold War and, as Mark Twain put it, whilst history doesn\u2019t repeat it often rhymes. As [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,2500,679,827,4318],"class_list":["post-35851","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-history","tag-reserve-currency","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35851"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35851\/revisions"}],"predecessor-version":[{"id":35852,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35851\/revisions\/35852"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}