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
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All Ordinaries 4326.600 +4.000
S&p/asx 200 4251.900 +6.600
China Shanghai Co 2328.605 -23.376
Gold Sep 11 0.00 0.00
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2012-02-13 20:33 Most Comments
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