Bretton Woods

The Ant and the Grasshopper: A Window into Macro Part I

Spurred by a few op-ed pieces and a couple of investment bank “research” notes, the mainstream and social media have been talking about others talking about the dollar losing its reserve status or its larger role in the global economy.  Few appear to really think it is likely in anything that approaches the time horizon …

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Anniversary of the End of Bretton Woods: Thoughts Going Forward

On this day in 1971, US President Nixon broke the last formal links between the dollar and gold and ushered in the modern era of floating exchange rates.  What was a necessity has become a virtue and letting markets determine exchange rates, anathema in earlier times, has become the best practice urged by the G7 …

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