Bretton Woods

The value of the pound in 1945 was too high even for Britain as it was then, let alone now. It is time to put the past behind us, and move on.

Here are some brief thoughts on the monetary system’s role in repeated economic crisis in the last 40 years.

The Euro is the national currency of a country that does not exist. Though there is a continent of Europe, as there is of America, there has never been a country of the United States of Europe, and there probably never will be. The Euro is…

We seem to be moving forward with this discussion on monetary policy, banking, and reserves. John Carney does a good job of summarising some of the initial forays in this back and forth. I am going to try my hand at framing the discussion…

Richard Nixon unilaterally closed the gold window 40 years ago today. No longer would the U.S. permit other countries to exchange their dollars for gold and by breaking that link, he ended the Bretton Woods international financial regime…