By Curtis Scoon
On August 15, 1971, President Richard Nixon ended the U.S. dollar’s convertibility into gold, and transitioned the U.S. dollar into a fiat currency. His decision came on the heels of a clandestine trip to China by his National Security Advisor, Henry Kissinger, in July 1971. The full details of that covert mission may never be completely known. However, as early as 1967, while a presidential candidate, Nixon had expressed support for opening relations with what was then commonly referred to as “Red China.” In hindsight, that relationship has evolved far beyond simple normalization.
Abandoning the gold standard effectively marked the end of the Bretton Woods system, established in 1944 to peg the U.S. dollar to gold at $35 per ounce and anchor other currencies to the dollar. This, in turn, marked the impetus for a series of inauspicious events that came to define the turbulent 1970s. These developments—including high inflation and monetary instability—ultimately set the stage for America’s financial future to this day.
In the wake of the so-called Nixon Shock, the United States faced rising inflation and growing global concerns about a weakening dollar. This period of uncertainty was soon compounded by the 1973 oil embargo, which disrupted energy supplies and ended the post–World War II golden age of industrial growth. The embargo was imposed by Arab oil-producing nations in response to U.S. support for Israel during the Yom Kippur War. Members of OPEC, particularly its Arab members (often referred to as OAPEC), restricted oil exports as a form of economic retaliation. The resulting surge in oil prices drove up production costs across industries, contributing to a severe recession in the United States. Businesses cut back operations and laid off workers, marking a period of economic strain characterized by both high inflation and slowing growth.
The U.S. auto industry was the most profoundly affected by the embargo, as the price of oil surged from roughly $3 to $12 per barrel. By mid-1974, Saudi Arabia had deepened its economic ties with the United States, agreeing to price its oil exports in U.S. dollars—a practice that contributed to the creation of the so-called “petrodollar” system. This arrangement reinforced global demand for dollars, helping sustain its role as the world’s leading reserve currency. While the petrodollar offered some macroeconomic stabilization, consumer preferences had already begun to shift. American buyers, facing higher fuel costs, turned away from larger, gas guzzling vehicles manufactured in Detroit, MI. As a result, automakers in Japan and Germany gained market share by producing smaller, more fuel-efficient cars—accelerating competitive pressures on U.S. manufacturers. Just 30 years prior both nations had brought the world to the brink in WWII and were enemies of America. In a fanciful game of geopolitical “musical chairs,” former adversaries are consistently reassigned roles and propped up after having been vanquished.
The “petrodollar” system reinforced global demand for U.S. currency, as dollars became the primary medium for purchasing the energy that powered industrial economies worldwide. While the dollar’s reserve status was spared, the American auto industry—and Detroit, long known as “The Motor City”—were not. The 1973 oil embargo had a catastrophic effect on the so-called “Big Three” automakers: General Motors, Ford Motor Company, and Chrysler. Although U.S. manufacturers once accounted for roughly 80% of global auto production in 1950, their market share declined noticeably during the embargo. By 1974 GM’s sales had declined 30% with Ford and Chrysler, both showing 20% decline in the same period. Ultimately, towards the end of the decade Chrysler required federal loan guarantees totaling about $1.5 billion to avoid bankruptcy. This marked an early sign of deeper structural challenges. Decades later, in the aftermath of the 2008 subprime mortgage crisis, the U.S. auto industry again required substantial government support to the tune of $80 billion dollars extended to stabilize the sector. Today, only 12%-13% of the world’s automobiles are produced in the United States. Detroit has never fully recovered.
Detroit’s decline had ripple effects across related industries, including steel manufacturing. As demand from automakers weakened, U.S. steel producers succumbed to escalating production costs, and increasing competition from foreign firms that had adopted newer, more efficient technologies. Between 1974 and 1986, much of the American steel industry was forced to shut down hundreds of facilities. The once bustling Midwest transformed into what is now known as the Rust Belt—a region marked by deindustrialization and population decline. At the same time, globalism shifted more manufacturing to countries such as China, where labor costs were substantially lower. Consequently, China has become the world’s largest steel producer by a wide margin. So much so that after the September 11 attacks, much of the steel from the World Trade Center was shipped to China for recycling.
As U.S. manufacturing declined, the employment gap was increasingly filled by a growing service sector. Rapid plant closures in the 1980s accelerated this shift, contributing to a long term transformation of the American economy. By the early 21st century, the service sector accounted for roughly 80% of U.S. gross domestic product and accounted for the majority of employment. In contrast, countries such as Japan and later China thrived at the expense of American manufacturing, becoming major exporters of consumer and industrial goods to the United States. Ever expanding access to American consumers increased trade deficits and further diminished the debt to GDP ratio. As a backstop, both Japan and China became significant holders of U.S. government debt by investing in Treasury securities, making them major stabilizers of the American debt market.
The normalization of relations between the United States and China moved more than our manufacturing capacity or debt to China. It “inadvertently” provided China with useful military technology. This occurred when President Clinton signed off on transferring authority to license satellite exports from the State Department to the Commerce Department. The stated goal was to streamline approvals and support the competitiveness of U.S. satellite manufacturers, many of which ironically relied on cost effective Chinese rockets and launch services. However, the technology had dual use risk as it greatly improved the accuracy and reliability of delivery systems for China’s nuclear arsenal. Now, nuclear warheads could be fitted on the same rockets and launch systems as the satellites. China was handed the capability to land nuclear weapons on U.S. soil. Through either collusion or gross incompetence, China was fast becoming a rival to American hegemony after the collapse of the Soviet Union in 1991. The philosophical Hegelian Dialectic used to create rivals by those who traverse the halls of power, had received yet another “makeover.” Hegel maintains, “for history to have progress you have to have conflict.” Conflict by design. Nothing on the world stage is coincidental.
“The American people henceforth must get used to the idea that they will never ever again in their lifetime have full employment.” – Alexander King, Chairman, Club of Rome
The diminishing American manufacturing sector coincided with declining agricultural production. According to the U.S. Department of Agriculture, the United States has lost approximately 996,000 farms since 1971. Factors such as rising labor costs, urbanization, and foreign imports had a blistering effect on small and mid-sized farms. Imports of fresh fruit and vegetables have tripled and sextupled, respectively since the Nixon Shock. Combined job losses in the manufacturing and agriculture sectors have catapulted the service industry to number one in job creation with 85% of all employment. Not surprisingly, consumer spending is the primary driver of all U.S. economic activity. American consumption of foreign goods has made China our top annual trade deficit partner for the past 25 years. None of this would be possible without the complicity of our leaders and the petrodollar.
Global demand for U.S. dollars—supported by the dollar’s role in international oil markets— masked the offshoring of America’s economic infrastructure. Domestically, easier access to credit and rising household borrowing helped finance increased consumer spending on imported goods. Growing consumption created the aesthetic of a strong economy. Hence, the public became oblivious to how this financial sleight of hand trick was actually eroding the value of U.S. currency. The Federal Reserve’s monetary policy—including low interest rates and balance sheet expansion—was instrumental in propping up a service economy that had become unsustainable without burgeoning debt.
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – But debt is the money of slaves.” – Norm Franz
It’s no coincidence that the national debt was only $398 billion and 35% of the GDP back in 1971, but is now $39 trillion dollars and 137% of the GDP. The bulk of that debt was accrued in the past 25 years. The pace to a monetary shift is quickening. When President Bill Clinton left the White House in January 2001, the national debt was $5.8 trillion. It has since multiplied sevenfold. The writing is on the wall. If the dollar was a patient on life support it would be read its last rites. We are witnessing the controlled demolition of the U.S. dollar and economy through costly, avoidable wars, subterfuge and bailouts of lending institutions in what can only be described as the greatest financial skullduggery of all time. The only question that remains is, why?
Not long after the 2008 subprime mortgage crisis—which bankrupted over 100 mortgage lenders and many financial institutions—the cryptocurrency Bitcoin emerged. Originally introduced through a white paper published in 2008 and launched in early 2009, Bitcoin was the first widely adopted decentralized digital currency. It was created by an individual or group using the pseudonym Satoshi Nakamoto, whose identity remains unknown. Per usual, the prospect of riches causes most to overlook the social engineering aspect of it all. In 2010 Bitcoin was valued at $.29 Cents, but at its all-time peak it skyrocketed past $100,000. Unlike any currency before it, its value is primarily driven by speculation rather than utilization. There’s no putting that “toothpaste back into the tube.” The illusion of financial freedom and overnight wealth are firmly embedded in the psyche of speculators around the world. We now have the introduction of stablecoins, meme coins, proposals for CBDC (Central Bank Digital Currency), etc. The evolution to a digital format of what is deemed money, is intrinsic to the entire concept of a new world order. A world without financial secrecy. One where money will provide personal data like never before. Technology has made this possibility closer to realization than most can imagine.
“Give me control of a nation’s money and I care not who makes the laws.” – Mayer Amschel Rothschild
Nothing has shaped human history quite like money. In historical terms, money has been a store of wealth and medium of exchange assigned to one universally accepted inanimate object or another—be it physical banknotes, coins, or commodities such as precious metals. In the modern technological era, money has increasingly transitioned from physical instruments to digital systems. Only 3% of all money is paper or coin. 97% is virtual. Money is already data. American investment banker and commentator Catherine Austin Fitts has sounded the alarm about the evolution of digital currencies. She has used the term “programmable money” to describe systems in which digital currency can be encoded with rules or controls—so that transactions can be surveilled, restricted or conditioned automatically.
According to Fitts, digital currency can be programmed to limit how, where, or when it can be spent. Accounts can be frozen or debited remotely. She also cautions that the synchronization of digital identity and digital currency for societal participation transitions money from a neutral bearer instrument into an enforceable tool. This dystopian scenario eerily foreshadows Biblical “mark of the Beast,” end times prophecy. As if that isn’t concerning enough there’s the advent of artificial intelligence, and the proliferation of data centers required to power and maintain a “Beast” system. A digital control grid is under construction all around us. Tech billionaire, Elon Musk, has predicted the necessity for universal basic income (UBI) as automation and AI displace human workers. He is also a prominent advocate of “transhumanism.” His “Neuralink” brain implant promises to make us all smarter. Essentially, humanity will become reliant on a digital system where we add little to no value in society. A system where freedom is problematic and no one will have any leverage. Most importantly, purpose becomes virtually nonexistent.
“You’ll own nothing and you’ll be happy.” – From an essay titled “Welcome to 2030,” later published by the World Economic Forum
The U.S. presidential inauguration in 2025 brought together political leaders and prominent figures from the technology sector, reflecting the increasingly close relationship between government and large technology companies in areas such as artificial intelligence, communications, and infrastructure. It resembled a modern-day meeting of oligarchs at Jekyll Island, where the framework for the Federal Reserve was laid out in 1910. Among those present were executives such as Amazon CEO Jeff Bezos, Meta CEO Mark Zuckerberg, Google CEO Sundar Pichai, Apple CEO Tim Cook, TikTok CEO Shou Zi Chew and last, but not least Elon Musk. Musk, who leads companies including Tesla, SpaceX, Starlink, and the social platform X, is one of President Trump’s top advisors. He also donated over $200 million to his presidential campaign. He has been a prominent figure in discussions about artificial intelligence, automation, and governance. If ever someone wanted to construct the control grid for a surveillance state as described by Ms. Fitts–men such as these would be the master builders. Imagine a neo-feudal world, where every aspect of daily life is monitored and regulated by “algorithms.” A world presented as a solution for the collapse of traditional institutions beginning with our monetary system, before expanding to shortages of life essentials. Out of chaos will come a new order.
Monetary policies are not formulated in a vacuum. They are the responses to political and social crises, be they organic or manufactured. For example, World War I played a significant role in normalizing central banks globally, while World War II contributed to the Bretton Woods system making the dollar the world reserve currency. Ongoing regional wars and conflicts dispersed around the world pose the potential to coalesce into one major battle, and follow the same pattern.
Beginning in 2020 the world has faced one crisis after another. First, there was the Covid-19 pandemic that triggered a global lockdown, effectively testing the world’s economic resilience. This was followed in 2022 by a nonsensical war between Russia and Ukraine that is still underway with NATO and the United States supporting Ukraine monetarily and militarily. Even more incredulous was the October 7, 2023 attack by Hamas against the Jewish state, which escalated into a war pitting America and Israel directly against Iran. War with Iran is threatening the economic stability of the oil producing nations in the region. It’s also affecting global shipping routes, supply chains, and food prices, as oil is critical to production and transportation of goods. For some reason, these wars of unevenly matched combatants are dragging on to no end.
Not to be overlooked in these recent events is the eschatology of Iran, Israel, and the United States in the Iranian war. The Shiite clerics who govern Iran believe in a “12th Imam.” According to their belief, he will return in the last days along with Jesus to defeat Satan. Iranians have long labeled America, “The Great Satan.”
Before their deaths, Prominent Ashkenazi Rabbi Menachem Mendel Schneerson and Sephardic Rabbi Yitzchak Kaduri predicted decades ago Israeli prime minister Benjamin Netanyahu would be Israel’s last leader, and forerunner to the return of the Jewish Messiah (Moshiach). As recently as March 13, 2026 Netanyahu reaffirmed this belief when he addressed the world by stating that Israel’s war with Iran is paving the way for the return of the Messiah. Steps are in place to rebuild the third temple of Solomon in Jerusalem on the Temple Mount, from where the Jewish Messiah will purportedly rule the world.
For his part, President Trump relocated the U.S. embassy from Tel Aviv to Jerusalem in 2017 during his first term. As president-elect in 2024, he nominated Christian Zionist, Mike Huckabee to be Israel’s U.S. Ambassador. As president he appointed Christian Zionist, Pete Hegseth to Secretary of War, and head of the Pentagon. The stage is now set.
China’s role in all of this appears to be prototypical, and a pertinent precursor to the implementation of a totalitarian, global system. From its disastrous one child policy, to social credit scores, to its censorship, and unethical organ transplants, China reflects a society devoid of personal liberties. Moreover, its fairly recent involvement in the spread of several viral epidemics such as SARS, H1N1, Avian flu and Covid-19 beta tested the tolerance and compliance limits of the world’s largest population. China’s military prowess was seemingly manufactured solely as a hedge against America’s substantial military might. After all, it has been propped up with “gifted” American military technology and industry.
A conspiratorial mind would see in this sequence of events across generations the unrelenting efforts of an elite cabal, to artificially fulfill apocalyptic prophecy in a quest for absolute power. These ambitions are not new to the human species. Many have tried and all have failed.
In 1776, Adam Weishaupt founded the Bavarian Illuminati, a secret society to establish a new world order based on “enlightenment principles.” His trusted courier, Johann Jakob Lanz, was in possession of sensitive documents when he was struck dead by lightning. If ever there was a historical occurrence satisfying the criteria for “Divine Intervention,” Lanz’s death is it. Rest assured, anyone seeking to create a new world order in this day and age will have to contend with a “lightning strike” of their own. God is in control.
Curtis Scoon is the founder of ScoonTv.com Download the ScoonTv App to join our weekly livestream every Tuesday @ 8pm EST! Support true independent media. Become a VIP member www.scoontv.com/vip-signup/ and download the ScoonTv App from your App Store.
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