The Breton Woods Agreement

The breton woods agreement said that the us. Dollar would be recognized as a reserve currency, but those dollars would be redeemable for gold on the part of anybody trading in the international market. It was slightly absurd in one sense, because the ownership of gold had been outlawed in the early 19 thirties. I think it was a vague and sort of ill thought out plan for making global trading rational again, and it was fated to die. But i don't believe there was any kind of real plot. That was just sort of some vague desire for world trade.