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1. In 1944, Franklin Roosevelt promoted the establishment of three world systems: the United Nations (political system), the general agreement on Tariffs and trade (economic system, later the WTO), and the Bretton Woods system (monetary system). The Bretton Woods system can be regarded as the origin of the modern monetary system after World War II< On August 15, 1971, Nixon announced to close the gold window, and the dollar was decoupled from gold, marking the collapse of the Bretton Woods system< In October 1973, the United States forced OPEC to accept their condition that global oil transactions must be settled in US dollars. The monetary system with us dollar oil as the core has been established. This system has been running until now, with the euro, RMB and other currencies more and more widely used in international settlement, the dollar oil system began to show some new changes

to say the difference between the Bretton Woods system and the dollar oil system, an important difference lies in how much gold the Bretton Woods system requires the United States to have the corresponding amount of dollars, while the dollar oil system does not require the United States to have so much oil. As long as the oil transactions of other countries are settled in dollars, the United States can print the corresponding amount of dollars Personal understanding, for reference only)