THE CREDIT CRISIS: 10 YEARS AND COUNTING RICK TOBIN
President Richard Nixon later took the dollar off of the Bretton Woods agreement in the early 1970’s in order
to make it pegged more to the value of oil in a new Petrodollar currency system with nations such as Saudi
Arabia, Kuwait, Qatar, the United Arab Emirates, and other Middle Eastern oilrich nations. A Petrodollar is a
U.S. dollar that is received by an oil producing nation in exchange for selling oil. These same funds were
usually deposited into U.S. or other Western nation banks.
In the decades following the switch from a goldbacked dollar to an oilbacked dollar system, inflation levels
began to rapidly increase while the dollar lost tremendous amounts of purchasing power. Specifically, there
has been a significant financial crisis in the 7th year of each subsequent decade (1987 Black Monday, 1997
Asian Financial Crisis, and 2007 The Credit Crisis) following the switch from Bretton Woods to the
Petrodollar currency system.
We are now more than halfway through the 7th year of the fourth decade here in 2017 after the end of Bretton
Woods. Will we see another shock to the financial system between now and the end of the year? Only time
will tell. Regardless, out of chaos, comes opportunity!!!
Rick Tobin
Rick Tobin has a diversified background in both the Real Estate and Securities fields for the past 25+
years. He has held seven (7) different Real Estate and Securities brokerage licenses to date. He also
writes college textbooks and real estate courses in numerous states nationwide for some of the largest
educational firms.
Rick has an extensive background in the financing of residential and commercial properties around the U.S with debt,
equity, and mezzanine money. His funding sources have included banks, life insurance companies, REITs (Real Estate
Investment Trusts), Equity Funds, and foreign money sources.
You can visit Rick Tobin at RealLoans.com.
sources.
You can visit Rick Tobin at http://www.realloans.com/
Please look for Rick's new book entitled The Credit Crisis: 10 Years and Counting (August 2017 publishing date
https://www.amazon.com/CreditCrisis10YearsCountingebook/dp/B074F9X46R/ref=sr_1_1?ie=UTF8&qid=1501621946&sr=8
1&keywords=The+Credit+Crisis%3A+10+Years+and+Counting) as well as The Credit Crisis Deals: Finding America's Best
Real Estate Bargains.