Re:WTF Happened in 1971? (2019)
by justinzollars on Monday November 23, 2020 @05:29PM
(#25192716)
> moderate price inflation took place throughout the Bretton Woods era
Bretton Woods collapsed because the United States' gold reserves were depleted in half honoring the $35 then $41 fixed exchange. Too many dollars were printed during Bretton Woods to fund the Great Society and Vietnam war. Ending the system made sense because it enabled the United States to keep what was left of its Gold reserves.
Bretton Woods collapsed because the United States' gold reserves were depleted in half honoring the $35 then $41 fixed exchange. Too many dollars were printed during Bretton Woods to fund the Great Society and Vietnam war. Ending the system made sense because it enabled the United States to keep what was left of its Gold reserves.