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60% of international trade is turned into US dollars. This has been progressing like this since a long time. Why ?
In 1944 (attention is more than a year after the end of World War II) breeton woods decided to go to the gold-based money system in the town, the fixed exchange rate system, the establishment of the IMF and the world bank. this is actually a decision the United States has taken in the interests of its own interests. At that time the US equals 1 ounce gold to 35 USD. that is, constant dry. which means that anyone who brings me $ 35 will give me one ounce of gold. in other words there is no difference in holding 1 ounce gold and holding it at 35 USD.
The United States knew that after the war, european economies would fund the United States just as they did after the First World War. for this reason, making the whole world trade with the US would strengthen the US. at the same time he would create money equivalent to under 1 ounce of money. also the dollar was making reserve money all over the world. so that the US would have taken away the oil that he had not owned by pressing usd. (At the same time, Keynes, who grasped the insidious plans of the United States at the meeting, did not have the power to change the situation, even though he showed a serious opposition.
This was as good as the oil crises of the 1968 Vietnam War and the 1970s. The Vietnam War was a complete disaster for the United States. war was a serious cost. Normally, the US had to pay as much as the amount of gold in its cradle as a requirement of the gold coin system. but this rule was compulsory to be able to finance the costs of war. With the war, the whole world began to usd abundance. it is a handicap for the United States that the world's largest exporter of gold at that time is Russia and that it does not give gold to the United States because of the cold war.
This situation especially bothered Germany and France. In 1968, gaulle in france, adenauer in germany came together and acted against the monetary system of the United States, which misdirected it and distorted the financial structure of the world. the france and germany governments would collect dollars and demand gold from the United States to show the inconsistency of the monetary policies the US wanted to implement. The US would reveal the inconsistency of the system when it could not give gold.
According to reports, the two countries took US dollars from the United States by taking one plane full of US dollars. but the US warned the two countries not to repeat the same incident. but the arrow had gone out. the US could not stand the pressure of the war any more and devastated 1973 te. so the money system based on gold has also collapsed. but the US still did not care if the system collapsed. because as it was initially predicted, the prices in the whole world were now at the dollar level, and all commodities began to trade in dollars.
Before the system collapsed in 1970:
1 barrel of oil = $ 2.5, 1 ounce of gold = $ 35.
With the collapse of the system in 1973 the fixed order was abandoned:
1 barrel of oil = $ 9, 1 ounce of gold = $ 120.
In 1979, 1 ounce of gold rose to $ 670 and to $ 851 after the 1980 Iranian crisis.