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The Token Dollar - by CrossCurrents and Jai Kondapalli

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The World's Banker Becomes the Factory

The Token Dollar The World's Banker Becomes the Factory CrossCurrents and Jai Kondapalli May 06, 2026 57 9 12 Share I. Kissinger’s Bargain In 1974, in the aftermath of Nixon’s closure of the gold window, Henry Kissinger flew to Riyadh and struck a bargain that would shape the next half-century of global finance. Saudi Arabia would price its oil exclusively in dollars and recycle its surplus earnings into US Treasurys. In exchange, the US would guarantee the security of the Kingdom. The rest of OPEC followed. The mechanics of this new system were simple and had far reaching implications. Every

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