Bretton Woods
ブレトンウッズ ／ bretton-woods — Institutions
The post-war monetary order settled at the end of the Second World War.
A two-tiered system that pegged the dollar to gold and other national currencies to the dollar. Countries did not need to hold gold directly; holding dollars was considered equivalent to holding gold.
⚠ When the United States could no longer maintain the gold backing for the dollar, the system collapsed, starting with the second tier.
References
- Gold Reserve Act of 1934 — Federal Reserve History Signed on 1934-01-30. Transferred ownership of all monetary gold in the US to the Treasury and prohibited the redemption of dollars for gold.
The books and materials referred to in this course.