How strange. Stocks are up this morning. Hang on…we’ve just had a look again. They’re down now. Sigh. There’s so much bad news about in the land that stocks moving up in such a climate is noteworthy. It means everyone’s talking about how bad things are, but there aren’t any sellers left. So are there any sellers left?…
February 20th, 2009 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "bretton woods"
A New Bretton Woods Vs. The Old Bretton Woods
In 1944, the world leaders that gathered in New Hampshire decided on a system based on gold. This was no innovation, as monetary systems for the past few centuries had also been based on gold. In the Bretton Woods system, the dollar was pegged to gold at $35/oz., and other currencies were pegged to the dollar. Currencies didn’t float in those days. Floating, manipulated currencies were considered an abomination. Exchange rates remained fixed…
November 21st, 2008 | Nathan Lewis | 9 comments | Continued