The U.S. dollar has enjoyed an enviable position for years as the reserve currency of the world. This has allowed the Treasury Department presses to run around the clock printing new dollars that will be used to facilitate global trade, finance the Federal Reserve’s Quantitative Easing, and fund our deficit spending. But the dollar’s status as the reserve global reserve currency is slowly unraveling. The consequences of losing that most favored currency status could be devastatingly inflationary.
In 1944, an international conference was held at Bretton Woods, New Hampshire that included a gathering of over 700 delegates from all 44 Allied nations of the 2nd World War. The purpose was to design a global currency system that would facilitate trade and render financial order to the post-war world. Several significant developments resulted from this summit, formally called the United Nations Monetary and Financial Conference.
Read this critical article about the collapse of the dollar here:
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