The fractured global monetary system

- By Robert Pringle
- 22 Aug 2011

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

August 2011 is the 40th anniversary of the suspension of gold convertibility of the dollar by President Nixon, which brought the Bretton Woods system of fixed exchange rates to an end. There are several lessons to be drawn from the experience during this period. One seems to be that you need a hegemonic power or a binding agreement whereby countries commit themselves to follow certain clear rules of the game to operate an international monetary system; in the past 40 years we have had neither

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com