The I M F, the Bretonwood System, the Trip in Dilemma

During the 19 sixties, the gold peg to the us. Dollar jumped to forty dollars and it was supposed to remain pegged at 35. That led to richard nixon's in a 19 71 nixon shock, where he he stopped the gold standard essentially. And so that really killed the i mfs entire purpose rights. They no longer had to maintain exchange rates any more. So they really asked the question, you know, what's our purpose? Any more,. In 19 76, at the jamaica accord, they actually gave back the rights to sovereign nations to manage their own exchange rates. Since 19 85, since 19 85, that has been the i m f roll.