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REPORT ABUSIVE REPLY
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Message Subject
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Do you know what it means when the Managing Director of the IMF warns of a "new Bretton Woods moment?
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Poster Handle
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Ima Pseudonym |
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Post Content
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By the quality of many posts here I have to wonder how many here know what the first Brenton Woods meeting was about
Quoting: Ima Pseudonym From my understanding the Bretton Woods Agreement was the United States Prize for winning WW2, effectively creating the Petrodollar which immediately created a worldwide demand to hoard/hold American Dollars in reserve by all nations. I believe this made the US Dollar be considered Strong. Brenton Woods 'formalized' the dollar as reserve currency. it was not a prize. the US manufactured most of the allies war machinery and we demanded payment in gold since we held the majority of the world's gold the 'nations' decided to peg trade to the US $ instead of gold itself (i do not understand the difference there) I think, but cannot point to where, that it was planned well in advance. a look at a chart of past reserve currencies shows an almost equal time each country held the reserve currency (controlled world trade) I'm not a historian nor an economist so my understanding may be off, but I'm always open to learn
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