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 new insight or understanding did you gain from this video?