jan 1, 1970 - Economic Crisis' in the 70's

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Industrialized countries after WWII joined the bretton woods agreement and in the 70's the US left and it lead to many others leaving the agreement and the gold standard behind. Having so many different currencies created inflation and instability in the world. There was also the fourth israeli war which created tension. OPEC also owned 50% of the worlds oil which gave them great power. At one point they there was even an oil embargo in the US where they were undersupplied in 1973. 1970-1980, USA, Israel,

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