Pages

Showing posts with label 1944. Show all posts
Showing posts with label 1944. Show all posts

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