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Bretton Woods monetary system ended in 1971 when the US dollar ended convertibility to gold and became a fiat currency. Whatever system we have today, Bretton W
by magicsmoke 6y ago
Bretton Woods monetary system ended in 1971 when the US dollar ended convertibility to gold and became a fiat currency. Whatever system we have today, Bretton Woods isn't it no matter how historic and conspiratorial the name sounds.
- pmorici 6y agoWhen people talk about the Bretton Woods system they are talking about the dollar dominate system of international trade and finance. It began with the Bretton Woods agreement. The end of gold convertibility was a change to that system not the end of the paradigm.
- magicsmoke 6y agoBy people I'm assuming you're referring to people that have never picked up a history book and are cargo culting the name Bretton Woods. Don't feed an idea that is factually wrong.