And that within 10 years of World War II being over, we established this global reserve currency through Bretton Woods, through the Keynesian economics. As long as it's backed by gold, it'll work.
And that within 10 years of World War II being over, we established this global reserve currency through Bretton Woods, through the Keynesian economics. As long as it's backed by gold, it'll work.
Bretton Woods 2. So do you know about Bretton Woods, the agreement that was made? It wasn't about creating a world government. It was about the world's economy becoming more interconnected in the 1940s and the international realization that they needed to make sure that there was more mechanisms in place so that countries could cooperate. And they needed to make sure that different countries' currencies could be traded with simplicity. So they created an exchange. They created a way that they could trade currencies easily. Because that is very important for international trade.