Petrodollar & Economic IndependenceEconomic History

The 1971 Bait-and-Switch: How Oil Replaced Gold as the World's Anchor

The pivotal moment in 1971 when the US abandoned gold for oil as the global monetary anchor—and what it means for Australia today.

15 min read
1971Gold StandardPetrodollarEconomic HistoryMonetary System

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About This Article

In this comprehensive analysis, I explore the 1971 bait-and-switch: how oil replaced gold as the world's anchor, examining the key factors, implications, and opportunities that shape this critical topic.

Key Topics Covered:

  • 1971
  • Gold Standard
  • Petrodollar
  • Economic History
  • Monetary System

This article is part of the Petrodollar & Economic Independence. How the US Petrodollar exports inflation to Australia. An analysis of the global debt spiral and the McArthur Model's solution for AUD economic independence..

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About Petrodollar & Economic Independence

How the US Petrodollar exports inflation to Australia. An analysis of the global debt spiral and the McArthur Model's solution for AUD economic independence.

Elliott McArthur

Independent Writer & Economic Strategist

Architect of The McArthur Model. Researching Australian Sovereign Alpha, Housing Affordability, and National Resource Strategy.