The Nixon Shock deliberately demolished Bretton Woods

Evidence

That’s exactly what the Nixon Shock was meant to do: just as a controlled implosion brings down an unwanted skyscraper, Bretton Woods was demolished to make way for America’s Global Minotaur. — Yanis Varoufakis, Technofeudalism, 214

Categorization

• XREF: connects to: Vietnam and Great Society spending cost America its trade surplus and killed Bretton Woods — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 172; The Nixon Shock converted dollars into hegemon-controlled IOUs — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 559

Broader Connections

• The Nixon Shock converted dollars into hegemon-controlled IOUs #expands (0.85) — Yanis Varoufakis, Technofeudalism, 559