6. Why is the 275 Trillion Global Debt the highest in History ?

In 1971 Richard Nixon broke the Bretton Woods agreement and depeg the dollar from Gold. The dollar was then pegged with oil creating the Petrodollar. The Petrodollar became a powerful geopolitical and financial tool because oil is the #1 trade commodity in the world. Every country in the world needed US Dollars to buy oil thus insuring massive demand for the dollar. The Petrodollar allowed the US Government to borrow $21 Trillion in Debt. The politicians love the petrodollar because they could incur debt without raising taxes of their constituents. The military Industrial Complex love the Petrodollar because it has generated trillions in profits for military corporations since 1971. It also gives them a mission of constant wars to preserve US Dollar. This new US debt driven economy spread throughout the world and created the the largest Credit Debt Bubble in history. For the last 40 years the world has borrowed from the future to pay for the present. but soon the Largest Global Bill in history will have to be paid.