Skip to comments.The dollar's 70-year dominance is coming to an end
Posted on 07/19/2014 1:33:03 PM PDT by markomalley
In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War.
The US was already the worlds commercial powerhouse, having eclipsed the British Empire several decades earlier. America was also on course to be among the victors of Europes conflict, even though its economy was largely unscathed by war. As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.
Seventy years ago this week, that fateful summit ended. Its close marked the moment the dollars unquestionable supremacy was secured. Since then, global commerce has been conducted largely in dollars and leading economies have held the greenback as their primary reserve currency.
The same system remains intact today, with the lions share of commercial settlements worldwide still clearing the US banking system even if the parties involved have nothing to do with the States.
The dollars hegemony continues to be cemented, meanwhile, by the operations of the International Monetary Fund and World Bank. Founded at Bretton Woods, theyre both Washington based, of course, and controlled by America, despite some Francophone window-dressing.
(Excerpt) Read more at telegraph.co.uk ...
Quick....we need to PRINT MORE!
See, Obama made sure that even the dollar is getting it’s comeuppance. That show that US. /sarc
I predicts one wold currency; one world government and attempts to remove all sovereignty and borders due to some sick twisted minds who don’t understand why completely different cultures won’t assimilate peacefully...
We’re broke and we’re going down the tube!
It’s going to be a quick ride down, when it takes hold and hard crash. Good luck!
I predict one world currency; one world government and attempts to remove all sovereignty and borders due to some sick twisted minds who dont understand why completely different cultures wont assimilate peacefully...
I think there will be a massive financial reset around the globe. And some country (China) will find a way to tie their currency to gold and they will dominate all other nations in the financial marketplace. The US will not be able to do this, because we’ve sold all our gold (and the gold which other countries left in our vaults for safe-keeping).
Gold may have to be $10,000 an ounce, but the winning currency will be tied to gold, and fiat money will be dead.
CWII Spark — Congress’s continual failure to regulate the value of the dollar (ceding the power to the private entity called “Federal Reserve”) has resulted in your money losing nearly all its value.
I have found this website to be a very useful source of information on the economy, gold, and silver.
There will be a one-world government, or at least policy-setting organization... we know this from Revelation.
As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.
The Bretton Woods era ended over 40 years ago when Nixon closed the gold window. The current dollar weakness started under the terrible W, and is continuing under the more terrible Obama.
About a year after Ubama leaves office he will admit that he was a Musloid all along.
America has been able to pay for imports with pretty little pieces of paper and entries in an electronic ledger. That is coming to an end. What now?
Actually you are right, even though it is unpopular to admit what is coming. Sticking the old head in the sand is the correct thing to do.
I don’t take the past 6-8 years as some forecast for the next 20. I think the dollar’s decline is specifically related to our current President.
Just like gas and energy prices.
I see an American come-back in our future that will rival the 80’s IF we are fortunate enough to get some decent leadership in the next President.
Otherwise, yeah - we be screwed for a very, very long time.
How many times does biblical prophecy have to come true before the lefties can’t ignore it anymore? If they’re paying any attention, It should be very obvious we’re headed down that track...
It’s almost past time to get our spiritual houses in order.
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