Gold Telegraph
@GoldTelegraph
History rhymes?
“Gradually, then suddenly.”
― Ernest Hemingway
In 1944, we had the Bretton Woods Conference.
80 years ago.
44 countries attended this conference.
What happened?
– We saw the creation of the IMF and the World Bank.
– The introduction of a fixed exchange rate system which pegged currencies to the US dollar, which was convertible to gold at $35 per ounce
– The US dollar effectively became the world’s reserve currency, establishing American economic dominance.
The conference 80 years ago transformed the international economic order.
The lesson?
Never underestimate the impact when countries unite to address economic and financial challenges.
There is a strong argument to be made that the international monetary system is fundamentally broken, affecting many countries and individuals around the world.
Some new articles are coming shortly.
