over the last few years, three big things that hadn't happened to my lifetime prompted me to do this study. First countries didn't have enough money to pay their debts. Even after lowering interest rates to zero. So their central banks began printing lots of money to do so. Second big internal conflicts emerged due to growing gaps in wealth and values.
This showed up in political populism and polarization between the left, who want to redistribute wealth and the. Who wants to defend those, holding the wealth and third increasing external conflict between a rising great power and the leading great power as is now happening with China and the United States.
So I looked back, I saw that all of these had happened together before. Many times and nearly always led to changing domestic and the world orders. The last time this sequence happened was from 1930 to 1945. What exactly is an order you might ask? It's a governing system for people dealing with each other.
There are internal waters for governing within countries, typically laid out in constitution and there was a world order for governing between countries typically laid out in treaties, internal orders change at different times than world orders. The weather within north, between countries. These orders typically change after wars.
Civil wars within countries, international wars between countries they happen when revolutionary new forces defeat weak old orders. For example, the U S internal order was laid out in the constitution in 1789 after the American revolution. And it is still operating today, even after the American civil war.
Russia got rid of its old daughter and established a new one with the Russian revolution in 1917, which ended in 1991 with a relatively bloodless revolution. China began its current internal order in 1949. When the Chinese communist party won the civil. You get the idea. The current world order commonly called the American world formed after the allied victory, when the U S emerged as the dominant world power, it was set out in agreements and treaties for how global governance and monetary systems work in 1944.
The new world monetary system was laid out in the Bretton woods. And establish the dollar as the world's leading reserve currency. A reserve currency is a currency that is commonly accepted around the world. And having one is a key factor in a country becoming the richest and most powerful empire with a new dominant power and monetary system established a new world order begins.
These changes take place in a timeless and universal cycle. That I called the big cycle.