The Money View: China and the International Dollar

The video tutorial discusses the hierarchy of money and credit, highlighting the domestic dollar's superiority over bank deposits. It explores the pre-crisis international monetary system, where the international dollar was considered above domestic currencies. The crisis revealed that the international dollar was actually below the domestic dollar in hierarchy. The video concludes with a discussion on reconstructing the international monetary system to establish key currencies like the renminbi, dollar, and euro with their own hierarchies.

What is the hierarchy of money and credit as described in the text?

How does the text define the domestic dollar in relation to bank deposits?

What was revealed about the various forms of dollars during the crisis?

What is the current discussion regarding the reconstruction of the International Monetary system?

What potential key currencies are mentioned in the text, and how might they relate to each other?