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The Century of Central Banking | The Snider Series | Episode 1 (WiM081)
The "What is Money?" Show
Exactly. Is It a Triffins Delemma?
Roxanne Jones: We triffins delemma triffins paradox, which is essentially that the breton wood system under pret did not appreciate and understate it all. The gold started to flow outside the united states in the late fifties,. actually before that, but in really serious fashion, in 58 and 59 and 60. This led to the creation of the london gold pool in november 19 61 - an essentially a default on the bretonwoos arrangement. There's so much currency outside the united States it's there's too much of it is finding wats being converted into us. And golds are starting to loot or flow outside the us.
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