Bitgesell

Fiat dollar’s legacy since 1971 USD - The False Equivalence with Gold In late 1944, at a hotel in Bretton Woods (USA), 730 delegates from the 44 leading Allied nations gathered to decide the future of global currency, which until then had been led by the British pound (UK). The meetings and negotiations lasted for 21 days, with Russia also initially participating.  However, events eventually led Russia to withdraw from the talks before signing, citing the pretext that the institutions to be created worldwide would be nothing more than " branches of Wall Street. " This conference established the entire international monetary system and gave birth to institutions such as the IMF (International Monetary Fund) and the World Bank. The United States, holding two-thirds of the world's gold, insisted on a system similar to the previous one but this time with all currencies pegged to gold and the US dollar. Thus, the Bretton Woods system was born, officially coming in