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Tuesday, November 25, 2025

Signifcance of Bretton Woods agreement at New Hampshire in 1944

It is more fun criticizing 

 The meeting in 1944;

1.  Transformed US military dominance in financial monetary dominance .   The pound was the global currency but it was heavily indebted to US   

2.  Made US the world currency  by pegging  the gold to $35 dollar.  However this was reversed by Nixon when countries drew gold from US with the dollar:   France, etc..3

3.  It saw the birth of World Bank and IMF

4.  Many countries now want to out of US dollar as reserve  global currency 
     because it is:
    1.  being weaponized and used as a weapon
    2.  US is plauged by high debt ($37 trillion)
    3.  US plauged by triple deficit

BRICS especially China want dollar to be replaced by Yuan or Brics appointed currentcy