Special Edition: De-Dollarisation and the New Monetary Order
Multipolarity
The Problem With the Brownboard System
The Bank of England, instead of just targeting inflation, could also target a value of the pound to the dollar. If their trade deficit was growing too large, and they were scared of gold fleeing to the United States, let's say, or even to another trading partner, they could announce a new price of their currency relative to thedollar. But I think that this gets to a problem with the brownboard system: When two countries trade, one might have a kind of competitive advantage or another one might be economically badly run.
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