Ok, I just read this:
http://en.wikipedia.org/wiki/Bretton_Woods_system
My head exploded. After I get it back together, I'm going to read it again.
Any of you really smart people want to comment? Is the article accurate? Is it biased?
Recommended reading in the future?
Thanks Allen
A Time magazine article that seems easier to understand: http://www.time.com/time/business/article/0,8599,1852254,00.html
The parts that leave me wondering are import oil requirements, purposeful trade deficits. Reconstruction of Japan and Europe as a economic policy to keep the value of the dollar on par with foreign currencies. And when that wasn't enough, supplying troops and foreign aid to make up the gap. It just boggles the mind.
I haven't read it again yet, but those are the parts that stood out on the first pass.
I spoke with a Federal Reserve Bank Board member a few years ago. I think it was '08. He said the plan was to inflate the dollar to $100/bbl of oil, but it went too far. Oil went to $150. Must be BS, right?
Don't get me started on banksters.
ahhh, that takes me back to listening to patriot short wave radio back in the 80s- 90s... the true 'mericuns. Haven't heard that brought up in a long time, deserves some in depth reading for your education tho. I burned out on SW later on after a militia group sent me literature and asking me if I'd want to start a local chapter.
In reply to T.J.:
It's worse than that, it's the banksters in collusion with the IMF, the Federal Government, and the Federal Reserve.
Trade deficits used as a transfer of wealth to other countries? China, Japan, the EU?
American consumerism encouraged as a national policy and used as a tool to devalue the currency?
I'm going to have to do some more reading.
Interesting what you find out when you do a little research about something you hear in passing on the radio.
