Why did the bretton wood system collapse? the u. s. supply of gold and dollars could no longer support it the imf had exhausted all its funds trying to support it president nixon was globally unpopular the smithsonian conference failed to save it?

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Mira Cardenas

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27 August, 23:31

Why did the bretton wood system collapse? the u. s. supply of gold and dollars could no longer support it the imf had exhausted all its funds trying to support it president nixon was globally unpopular the smithsonian conference failed to save it?

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Izabelle · Answer 1

The Bretton Woods Agreement, negotiated in July 1944, established a new international monetary system. It was developed by delegates from 44 countries at the United Nations Monetary and Financial Conference held that month in Bretton Woods, N. H. Under the agreement, other currencies were pegged to the value of the U. S. dollar, which, in turn, was pegged to the price of gold. The Bretton Woods system effectively came to an end in the early 1970s, when President Richard M. Nixon announced that the U. S. would no longer exchange gold for U. S. currency.