The Bretton Woods Agreement was reached in a 1944 summit held in New Hampshire, USA on a site by the same name. The agreement was reached by 730 delegates, who were the representatives of the 44 nations that attended the summit. The delegates, within the agreement, used the gold standard to create a fixed currency exchange.
The Bretton Woods Agreement and System created an international currency exchange regime based on the U.S. dollar and gold.
August 15 of 2021, marks the anniversary and the largest theft in seventy years of history. The "Nixon shock" turned the dollar into a floating or unsupported currency (FIAT) and has since become a paper that derives its credibility not from gold but only from US military power.
Until capitalism is understood as the "ideology of plunder", weak governments and peoples have and will pay the price for the superiority and welfare of who control the banking system.
Most people think the Cold War ended with the fall of the Berlin Wall and the break-up of the Soviet republics. Welfare money and extreme spending for North American residents are being taken out of the pockets of the world so that the free economy has a more deceptive face than restrained patterns. The war is not over.
The mechanism is very simple. At the Bretton Woods Conference, the United States did not allow the global currency to be created and imposed its own national currency, but when it spent five times its gold reserves, it abandoned the previous commitment by claiming it was temporary. Since then, the US Treasury has been printing dollars and paying off its debts with debt.
The American people enjoy the wealth of others with great appetite: from natural goods in South and Central America and Africa to oil and gas in the Persian Gulf, from less expensive Indian and Bangladeshi labor to high West and East Asian intelligence, and even scientific prowess. The method of control can be summed up in one word: the dollar.
The possibility of the looting mechanism collapsing has always been raised, but the world powers have prevented it in the same way (printing their currencies and building credit; increasing debt) to prevent hyperinflation. How to escape the 2008 economic crisis would show what the situation was: While some large corporations had to go bankrupt, the US government acted as a broker for the capitalists and paid off the debts of the giants from everyone's pockets.
Until capitalism is understood as the "ideology of plunder", weak governments and peoples will pay the price for the superiority and welfare of developed nations. It is unknown at this time how long the banking system is going to repress weaker people and nations to benefit mostly western countries.
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