- Today’s system was designed in 1944 and collapsed in 1971. Yet we’re still using some version of it.
- Nothing about this system makes much sense and it most benefits those at the top – those who are closest to the creation of new currency.
For 50 years, the global economic and financial system has been operating based on a fiat version of the old Bretton Woods system. That system was designed in 1944 and collapsed in 1971. Yet we’re still using some version of it.
America has succumbed to Triffin’s Dilemma by running massive trade deficits with producing countries like China and India, where many once-American middle-class jobs now also reside.
Read the full article on Blockworks: https://blockworks.co/our-monetary-system-is-broken/
