Financial-System

William Simon Establishes Petrodollar Recycling System

1974-07-01 00:00:00 +0000 UTC | Importance: 9/10

US Treasury Secretary William Simon negotiated a pivotal agreement with Saudi Arabia that established the petrodollar recycling system, fundamentally reshaping global monetary dynamics. Simon convinced Saudi Arabia to sell oil exclusively in US dollars and invest oil revenues in US Treasury bonds, …

William Simon Ahmed Zaki Yamani Richard Nixon King Faisal Henry Kissinger +2 more petrodollar-system monetary-policy oil-politics financial-system international-finance

First Bank of the United States Establishes Financial Elite Capture Pattern

1791-02-25 00:00:00 +0000 UTC | Importance: 8/10

President George Washington signs legislation creating the First Bank of the United States, establishing a national bank chartered for twenty years despite fierce constitutional opposition from Thomas Jefferson and James Madison. Treasury Secretary Alexander Hamilton’s proposal creates an …

Alexander Hamilton Thomas Jefferson James Madison George Washington U.S. Congress institutional-capture financial-system constitutional-conflict elite-corruption banking-power