In the future, our kids and grandkids will be asking us "What the HELL happened??!!
Welcome to part one of Documenting the Economic Collapse for Posterity!
The intention of this series is to gain an understanding of where we are in the economic collapse, how we got here and what can we do NOW to weather it.
To start at the beginning we would need to go all the way back to the Federal Reserve Act of 1913. If you are not familiar how this bill that changed our future came into being, please read:
THE CREATURE FROM JEKYLL ISLAND by G. Edward Griffin
We have a lot to cover, so our coverage will begin with the Bretton Woods Agreement of 1944...
What is the 'Bretton Woods Agreement'
The Bretton Woods Agreement is an historic system of monetary and exchange rate management agreed to in 1944. It was established at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. Under the agreement, currencies were "pegged" to the price of gold, and the U.S. dollar was seen as a reserve currency linked to the price of gold.
The Bretton Woods Agreement remains an important part of world financial history. The creation of the International Monetary Fund (IMF) and valuation of gold and foreign exchange rates remain important to this day. The agreement also made currencies convertible for trade and other current account transactions. The strong value of the U.S. dollar eventually led to the collapse of this system after more than 20 years.
DRILLING DOWN 'Bretton Woods Agreement'
The Bretton Woods Agreement is still an important part of world financial history. The establishment of the International Monetary Fund (IMF) and valuation of gold and foreign exchange rates are important to this day. The arrangement made currencies convertible for trade and other accounting transactions. The strength of the United States dollar would eventually lead to the collapse of this system after over 20 years.....
(Please check back for Part 2 Friday)