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.