TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Indore Honeymoon Murder: Wife Sonam Surrenders in UP

    Sonam confesses to role in husband Raja Raghuvanshi’s murder

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    ‘Canadian PM Mark Carney Needs to Handle Khalistan Issue Diplomatically’

    what religious trends say about our future

    Islam to See Highest Population Growth Among Religions, Finds Pew Research

    PM Modi on 11 years of infrastructure revolution

    PM Modi Highlights 11 Years of Infrastructure Revolution, Making India World’s Fourth Largest Economy

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    real estate

    India Retains Top Spot Among Global Investment Hubs for Land and Development Projects

    How a Compound Interest Calculator Can Boost Your Returns in India?

    How a Compound Interest Calculator Can Boost Your Returns in India?

    Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

    Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    India-Russia Pact on the Su‑57 as a Leap of Strategic Trust

    From Buyer to Partner: What the Su‑57 Means for India’s Military Autonomy Inside Russia’s Su‑57 Gamble with India

    Dassault and Tata to Begin Rafale Fuselage Production in India

    Dassault and Tata to Begin Rafale Fuselage Production in India, Marking Major Milestone in Defence Manufacturing

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    New Delhi: Indian Army Brahmos Missile System during a rehearsal for Republic Day Parade, in New Delhi on Friday, January 20, 2023. (Photo: Anupam Gautam/IANS)

    India’s Defence Manufacturing Set to Reach ₹8.8 Lakh Crore by 2047: CII-KPMG Report

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Why the US Inviting Pakistan’s Army Chief Matters

    Why the US Inviting Pakistan’s Army Chief Matters — And What It Could Mean for the Neighbourhood?

    Pakistan hikes defence Budget, prioritizes ammunition over growth

    Pakistan Hikes Defence Budget by 20 PC , Prioritizes Ammunition Over Growth

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    ‘Canadian PM Mark Carney Needs to Handle Khalistan Issue Diplomatically’

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Vedic Ethos: A Civilization of Knowledge and Inquiry

    From Rigvedic Wisdom to Modern Decay: How Islamisation Crushed a Knowledge Civilization

    Ram Mandir Pran Pratishtha 2.0

    Thousands Gather in Ayodhya for Ram Darbar Pran Pratishtha Ceremony

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bangalore: High Court of Karnataka in Bangalore. (Photo: IANS)

    RCB Moves HC to Quash FIR in Bengaluru Stampede Case, Cites Govt Approval for Celebration

    Slot Machines for Indian Players: Exclusive Gameplay for Real Money

    Slot Machines for Indian Players: Exclusive Gameplay for Real Money

    In December 2024, D. Gukesh Dommaraju, then just 18, became the youngest undisputed World Chess Champion

    The Gukesh Effect: How a Teen Grandmaster Is Reshaping Indian Chess and Reclaiming Its Ancient Legacy

    Critical Dimensions for Evaluating Procurement Software Providers

    Critical Dimensions for Evaluating Procurement Software Providers

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Indore Honeymoon Murder: Wife Sonam Surrenders in UP

    Sonam confesses to role in husband Raja Raghuvanshi’s murder

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    ‘Canadian PM Mark Carney Needs to Handle Khalistan Issue Diplomatically’

    what religious trends say about our future

    Islam to See Highest Population Growth Among Religions, Finds Pew Research

    PM Modi on 11 years of infrastructure revolution

    PM Modi Highlights 11 Years of Infrastructure Revolution, Making India World’s Fourth Largest Economy

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    real estate

    India Retains Top Spot Among Global Investment Hubs for Land and Development Projects

    How a Compound Interest Calculator Can Boost Your Returns in India?

    How a Compound Interest Calculator Can Boost Your Returns in India?

    Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

    Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    India-Russia Pact on the Su‑57 as a Leap of Strategic Trust

    From Buyer to Partner: What the Su‑57 Means for India’s Military Autonomy Inside Russia’s Su‑57 Gamble with India

    Dassault and Tata to Begin Rafale Fuselage Production in India

    Dassault and Tata to Begin Rafale Fuselage Production in India, Marking Major Milestone in Defence Manufacturing

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    New Delhi: Indian Army Brahmos Missile System during a rehearsal for Republic Day Parade, in New Delhi on Friday, January 20, 2023. (Photo: Anupam Gautam/IANS)

    India’s Defence Manufacturing Set to Reach ₹8.8 Lakh Crore by 2047: CII-KPMG Report

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Why the US Inviting Pakistan’s Army Chief Matters

    Why the US Inviting Pakistan’s Army Chief Matters — And What It Could Mean for the Neighbourhood?

    Pakistan hikes defence Budget, prioritizes ammunition over growth

    Pakistan Hikes Defence Budget by 20 PC , Prioritizes Ammunition Over Growth

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    ‘Canadian PM Mark Carney Needs to Handle Khalistan Issue Diplomatically’

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    Can PM Modi’s Visit Nudge Canada Toward Action on Khalistani Extremism?

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Vedic Ethos: A Civilization of Knowledge and Inquiry

    From Rigvedic Wisdom to Modern Decay: How Islamisation Crushed a Knowledge Civilization

    Ram Mandir Pran Pratishtha 2.0

    Thousands Gather in Ayodhya for Ram Darbar Pran Pratishtha Ceremony

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Bangalore: High Court of Karnataka in Bangalore. (Photo: IANS)

    RCB Moves HC to Quash FIR in Bengaluru Stampede Case, Cites Govt Approval for Celebration

    Slot Machines for Indian Players: Exclusive Gameplay for Real Money

    Slot Machines for Indian Players: Exclusive Gameplay for Real Money

    In December 2024, D. Gukesh Dommaraju, then just 18, became the youngest undisputed World Chess Champion

    The Gukesh Effect: How a Teen Grandmaster Is Reshaping Indian Chess and Reclaiming Its Ancient Legacy

    Critical Dimensions for Evaluating Procurement Software Providers

    Critical Dimensions for Evaluating Procurement Software Providers

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Why the world should move away from petrodollars and go back to the gold standards

Infront of sleepy Joe, Putin is sending the Petrodollar to ruins and bringing back the golden era

Sanbeer Singh Ranhotra by Sanbeer Singh Ranhotra
2 April 2022
in Premium
gold standard

PC: Piyush Gupta

Share on FacebookShare on X

Why the world should move away from petrodollars and go back to the gold standard?

World War II gave the United States of America an opportunity like no other. The U.S. was the only country that emerged richer and stronger after the war. It did not have to rebuild its infrastructure, and its economy was booming. How so? Washington and its allies developed the Bretton Woods Agreement after World War II. According to this agreement, all national currencies were valued in relation to the U.S. dollar. Under this arrangement, instead of exchanging gold, the US dollar was to be exchanged and was to hold the same value as gold.

RelatedPosts

From Buyer to Partner: What the Su‑57 Means for India’s Military Autonomy Inside Russia’s Su‑57 Gamble with India

Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

India’s Millionaire Wealth Grows by 8.8% in 2024, Reaching $1.5 Trillion: Report

Load More

Then came the petrodollar system. Since the dollar had become the world’s reserve currency, as well as the benchmark, crude oil transactions were undertaken using dollars. The windfall which emerged for countries in the Gulf after the oil boom was simply so large that they had to take the money out of their own countries and put it in Wall Street.

Why the Petrodollar System Must be Abolished

Many countries are now whispering the question: Why should the United States’ currency be the standard around the world? Why should petrodollars be the dominant mechanism by which oil is bought and sold? Why should one currency be made so strong that any significant fluctuations in its value can turn the world economy upside down? Finally, why should the focus of all countries be towards ensuring that the stability of the U.S. dollar is maintained?

But the most important factor which should make the world depart from the petrodollar system is that an abandonment of the same will bring the Gold Standard back to life. Each currency will be pegged to the value of gold. For example, the value of one rupee will be measured against the cost of one ounce of gold, instead of the value of one US dollar.

Given how the world economy has come to be centred around the dollar, making the United States a financial hegemon, it is time for the Gold Standard to be adopted once again.

The Gold Standard

The Gold Standard is a monetary system where a country’s currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold.

Recently, the Russian central bank announced that it will put the ruble on a gold standard. The bank pegged 1 gram of gold to 5,000 rubles. When a currency is backed by gold rather than the US dollar, it becomes more stable and stronger. Russia’s move to embrace the Gold Standard is very significant, as it can potentially lead to many countries reviving the millennia-old system.

When an economy was doing poorly, gold left the country. When it was doing well, gold came to it. In both cases an equilibrium was eventually attained. Without any gold backing, almost every country on the planet runs a deficit.

— Atul Kumar Mishra (@TheAtulMishra) April 1, 2022

The Gold Standard has many advantages. First of all, it prevents both inflation as well as deflation. It makes the fiscal environment in a country very stable, often leading to high employment rates. Interestingly, unlike the dollar standardisation, the Gold Standard gives actual value to a currency, making it money. It runs polarly opposite to the concept of a fiat currency, in which the value of money is merely promised, and not actually accounted for. The gold standard also stabilizes prices and foreign exchange rates.

The US dollar is still the reserve currency of the world. And dollar movement upsets every single economy on the planet.

— Atul Kumar Mishra (@TheAtulMishra) April 1, 2022

Prior to the acceptance of the dollar as a “global currency”, international trade was settled using physical gold. Nations with trade surpluses accumulated gold as payment for their exports, while those with trade deficits saw their gold reserves getting depleted.

Read more: Jaishankar makes it clear to US, “You’re barking up the wrong tree”

Russia had a massive pool of $630 billion in foreign reserves. A significant portion of these reserves was in dollars. So, when the sanctions came down on Moscow, a bulk of its forex reserve was rendered worthless. That is a major problem with the internationalisation of the dollar. It gives disproportionate power to one man in the White House to control the world economy and the fate of entire countries.

The realisation is beginning to dawn on many countries. They now realise that they have vested too much power in the hands of the United States and that it is time for a change. The Gold Standard is the best way to move forward, and of course, in the long run, it can be replaced with an even better system. The primary objective of all countries, however, must be the de-dollarisation of their economies.

Tags: America-Saudi ArabiadollarEconomygold standardpetrodollarRussiaRussia-Ukraine WarUkraine
ShareTweetSend
Previous Post

Pujita Ponnada: Biography, Career and Education

Next Post

Collection of TOP 28 Sweat Quotes and Sayings

Related Posts

Mera Ration 2.0: A Leap Towards Digital Transparency and Corruption-Free India
Business

Mera Ration 2.0: A Leap Towards Digital Transparency and Corruption-Free India

13 September 2024

How India's Latest Digital Initiative is Revolutionizing Ration Distribution India is making significant strides in the digital realm with...

The Lahore declaration that was not meant to be
History

The Lahore declaration that was not meant to be

25 February 2023

For a long time, India’s geographical region of Kashmir has been a sensitive issue between India and Pakistan. But...

Baikunth Shukla
History

Bihar’s Forgotten Sons: Yogendra Shukla and Baikunth Shukla

22 February 2023

Story of Baikunth Shukla and Yogendra Shukla: Have you been to Bihar before? Stop assuming. I'm not referring to...

Load More

Comments 4

  1. s says:
    3 years ago

    absolutely!! hooefully china and other countries realise it’s better to not fight among ourselves – instead – focus on the being united to become stronger and change the monopoly

    Reply
  2. Divakar says:
    3 years ago

    Saddam Hussain worked to link to Euro, USA found (?) WMD theory to destroy him and in the process finished a country. Wherever there is unrest in the world there is a hidden hand and agenda attributed to USA. Poor Ukraine took them and NATO for granted and went into self destruction mode. Comedians usually leave viewers laughing but this guy rendered his citizens hopless

    Reply
  3. Bali says:
    3 years ago

    Going ahead and embrace the gold standard is the way. Globe’s ancestors were not fool.

    That being said, after world war 2 only 2 countries had the capabilities to lead the world. At that time, 1 Indian Rupee was = to 1 US dollar (1947). India was on verge of getting nuclear power country in 1956.

    However, during this time CIA not only killed important persons of India but also went hand-in-hand with UK to make sure India never gets it’s real high.

    It’s time now to give them many favors

    Reply
  4. John Doe says:
    3 years ago

    This article is from totally Russia to distable westerner alliance against their crimes

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Islam is on the track to become the fastest growing religion in the world.

Islam is on the track to become the fastest growing religion in the world.

00:09:34

BJP, bakrid and the cow. CM Manik Saha in eye of the storm.

00:03:56

Pakistan needs money from IMF to feed their people

00:15:20

Vacate PoK and more: Steps Pakistan needs to take to avoid Indian military action

00:06:36

Taking The Wire’s Propaganda Piece on VP to the Cleaners – Feat. Prof. Kapil Kumar

00:09:19
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited