Articles related to Bretton Woods
 
Lew Rockwell
  John Maynard Keynes, Immoralist 
John Maynard Keynes was born in 1883 and died in 1946. Henry Hazlitt was born in 1894, eleven years after Keynes, and lived much longer, until 1993. Their lives and loyalties are a study in contrast, and mostly of choices born of internal conviction, in Hazlitt's case, or lack thereof, Keynes's case.
Saturday, September 7, 2019
Nick Barisheff - BMSINC
  August 15, 1971: Inflation Unleashed 
The general public, the media and most financial observers were largely unaware of the momentous event that took place on August 15, 1971. However, the implications of that event have had an enormous impact on global financial conditions ever since. On that date, US President Richard Nixon “closed the gold window”. In essence, this meant the US would no longer honour the Bretton Woods Agreement of 1944, which
Thursday, August 15, 2019
Hugo Salinas Price - plata.com.mx
  The Gold Standard: Generator Protector Of Jobs 
The abandonment of the gold standard in 1971 is closely tied to the massive unemployment the industrialized world has suffered in recent years; Mexico, even with a lower level of industrialization than the developed countries, has also lost jobs due to the closing of industries; in recent years, the creation of new jobs in productive activities has been anemic at best.
Thursday, June 27, 2019
Nathan Lewis - New World Economics
Devaluations of the 1930s Don't Justify Today's Funny Money Excess
Without question, the Great Depression was a time when the political consensus moved from a Classical “hard money” approach towards a Mercantilist “soft money” approach — leading, ultimately, to today’s “print until the pain goes away” reaction. Actually, this trend had started in the later 19th century, and was not fully expressed until the 1970s – an evolution stretching over a hundred years or more. But, the experience of the Great Depression period of the 1930s st
Saturday, June 22, 2019
FOFOA - FoFOA
Fiat 33 
"Sir, I would say, "Old World Order" to return. To understand/explain better: A very easy way to view this "order", would be to simply say that the American Experience is reaching the end! As we know, world war two left Europe and the world economy destroyed. Many thinkers of that period thought that the world was about to enter a decades long depression as it worked to rebuild real assets lost in the conflict. It was this war that so impacted the idea of looking positively toward the fu
Friday, June 21, 2019
Nathan Lewis - New World Economics
The View From 2011
Today, we will continue our discussion of the “gold sterilization” of 1937. June 18, 2017: The “Gold Sterilization” of 1937 June 25, 2017: The “Gold Sterilization” of 1937 #2: Fumbling and Bumbling We will look at an influential 2011 paper by Douglas Irwin, available here: http://www.nber.org/papers/w17595.pdf All in all, I think the paper is pretty good, at least in its basic descriptions. It meanders into the usual channels of pointless Monetarism, with some equally pointless math, but it does
Tuesday, June 11, 2019
Antal E. Fekete - Gold University
The Dismal Monetary Science
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Sunday, May 19, 2019
Chris Powell - GATA
  State Dept. memo explains U.S. policy to drive gold out of financial system
A long memorandum written in March 1974 by a U.S. State Department official for Secretary of State Henry Kissinger and copied to future Federal Reserve Chairman Paul Volcker, then the Treasury Department's undersecretary for monetary affairs, describes the desire of the United States and its options to prevent European countries from increasing the use of gold in the international financial system. The memo, titled "Gold and the Monetary System: Potential U.S.-E.C. Conflict," was recently discov
Monday, April 15, 2019
Mike Hewitt - Dollar Daze
America's Forgotten War Against the Central Banks
In order to pay debts incurred from the Seven Years War with France, King George III of England sought to heavily tax the colonies in America. In 1742, the British Resumption Act required that taxes and other debts be paid in gold.
Thursday, April 11, 2019
Mickey Fulp - Mercenary Geologist
Gold, Silver, and the US Dollar: 1792-1971
In today's musing, I review the history of gold, silver, and fiat currency as money in the United States of America. I document how various wars, panics and depressions, Congressional acts, and executive orders have affected the US dollar prices of precious metals and resulting gold-silver ratios.This musing covers the period from 1792 when the United States government first established a national currency backed by gold and silver until
Saturday, April 6, 2019
Nathan Lewis - New World Economics
March 18, 1968 - "Good Money Is Coined Freedom" Speech by William McChesney Martin, 1968
Today, we have a speech by the Chairman of the Federal Reserve, William McChesney Martin, given on March 18, 1968. At this time, the Bretton Woods era was coming to an end, not because of some inherent problem, but because those in charge of maintaining it (including Martin) really didn't know what they were doing. It was the simplest thing in the world -- a time of peace and prosperity worldwide -- but they were not up to the task. click here for "Good Money Is Coined Freedom," by William McC
Monday, March 18, 2019
Frank Shostak
Why We Now Measure Gold in Dollars — and Not the Other Way Around
Prior to 1933, the name "dollar" was used to refer to a unit of gold that had a weight of 23.22 grains. Since there are 480 grains in one ounce, this means that the name dollar also stood for 0.048 ounce of gold. This in turn, means that one ounce of gold referred to $20.67.Observe that $20.67 is not the price of one ounce of gold in terms of dollars as popular thinking has it, for there is no such entity as a dollar. Dollar is just a name for 0.048 ounce of gold. On this Rothbard wrote,No one p
Sunday, February 24, 2019
FOFOA - FoFOA
Think like a Giant 3 
"The things I tell you will not be wrong. Better to listen, than to talk. Don't search for all the answers at once. A path is formed by laying one stone at a time." -The Giant from Twin Peaks "If you are searching for facts you will find them, but the items you find will not be true! Did you think that the high powered world of the LBMA would operate in a fishbowl for all to see? We cannot take what is on the outside as evidence for what is on the inside. To find the answer, work with ins
Monday, February 18, 2019
Mike Hewitt - Dollar Daze
America's Forgotten War Against the Central Banks
"Let me issue and control a nation's money supply, and I care not who makes its laws." (Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty) Many prominent Americans such as Benjamin Franklin, Thomas Jefferson, and Andrew Jackson have argued and fought against the central banking polices used throughout Europe. A note issued by a central bank, such as the Federal Reserve Note, is bank currency. These notes are given to the government in exchange for an interest-bearing g
Sunday, December 30, 2018
Nathan Lewis - New World Economics
Why Base Your Money On Gold A Simple Answer For First-Timers
The United States embraced the principle of a gold standard – a dollar whose value was linked to a defined quantity of gold – from 1789 to 1971, a stretch of 182 years. During this time, the U.S. was the most successful of any major country, expanding from thirteen war-ravaged states along the Atlantic
Sunday, November 18, 2018
Keith Weiner - Monetary Metals
Standing Ready to Lease Gold
We will take another break from capital destruction, to treat a topic which has come up this week. On March 11, we said: “…central bankers do not think about gold. Granted, they once did. In the 1960’s, there was the now-infamous London Gold Pool to keep the price of gold at $35. This is endlessly cited as evidence of current central bank price suppression, without bothering to mention that until 1971 the official US policy was to maintain the dollar to gold exchange rate of $35 to the ounce. …
Tuesday, March 20, 2018
Chris Powell - GATA
Hungary's central bank to repatriate its 3 tonnes of gold from London
* * * From Hungary Today, Budapest Tuesday, March 6, 2018 http://hungarytoday.hu/news/hungarian-national-bank-decided-bring-gold-r... The leadership of the Hungarian National Bank has decided to bring back home Hungary's gold reserves. Up to now, 100,000 ounces (3 tonnes) of the precious metal were stored in London, which is in total worth some 33 billion forint ($130 million) at current gold prices. The decision seems to be in line with international trends as storage of gold reserves out of th
Tuesday, March 13, 2018
Chris Powell - GATA
Ralph Benko: Trade deficits are the price of issuing the world reserve currency
Financial writer and gold standard advocate Ralph Benko this week joined those explaining that huge trade deficits are inevitable for any country that enjoys the "exorbitant privilege" of issuing the world reserve currency. Benko writes: "World War II -- in which my heroic father Max Benko fought along with millions of others -- left America relatively unscathed. After V-Day our allies and our vanquished enemies' economies lay in shambles. We could (and did) give ourselves a treat while extendin
Monday, March 12, 2018
Nathan Lewis - New World Economics
“Should We Restore The Gold Standard”
I thought I would add a little commentary to this item from Bullionstar: Should We Restore the Gold Standard? It consists of a sort of virtual discussion between Larry White and David Glasner, who we looked at recently regarding his views of the Great Depression: I say “virtual” because it appears that the two did not have an actual discussion, but rather, the author compares some of their public statements. The article is a nice summary of what a discussion today on this topic might look like.
Monday, March 12, 2018
Andy Hoffman - Miles Franklin
“Take a Pill” Thinking and Consequences
This article was written for Miles Franklin by Gary Christenson who advocates treating causes, not symptoms. Headache? Muscle ache? Back ache?  Take a pill! An over-the-counter pill will diminish the symptoms and pain. The consequences will come later. High cholesterol? Take a pill. There are other ways to reduce cholesterol but none that produce $ billions for Big Pharma. Consequences to your body and finances will manifest in other ways. High Blood Pressure? Take a pill. There are other means
Saturday, March 3, 2018
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