"BRETTON WOODS A system for international financial management and stability which was put in place by the Allies, minus the Soviets, in 1944 and destroyed in

"BRETTON WOODS A system for international financial management and stability which was put in place by the Allies, minus the Soviets, in 1944 and destroyed in 1973 by President Richard Nixon without consideration being given to a replacement. "Nixon hoped in this way to solve some short-term American economic problems by re-creating the sort of financial disorder in which the largest power would be best placed to benefit. It could be said that this was the single most evil act undertaken by an elected leader in the postwar period. Other leaders should not be discouraged, however. The opportunity to do worse is perpetual." --- John Ralston-Saul, The Doubter's Companion, 1994