Bretton Woods Detail
About Bretton Woods Detail
The Bretton Woods Conference in July 1944 was formally called the United Nations Monetary and Financial Conference. It was held at the Mount Washington Hotel in New Hampshire. The British delegation was led by John Maynard Keynes, the American by Harry Dexter White. The key debate was between the Keynes plan for an international currency and the US plan for dollar dominance. The US plan prevailed. The conference created the IMF and the World Bank. The system required the US to maintain dollar convertibility into gold. When the US could no longer do so, Nixon ended the system in 1971.
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