50 Years After Bretton Woods, the US Dollar’s Throne Is in Play
50 Years After Bretton Woods, the US Dollar’s Throne Is in Play
David Z. Morris Fri, August 13, 2021
This Sunday, Aug. 15, will be the 50th anniversary of the end of the Bretton Woods currency system. After World War II, major nations essentially agreed to peg their currencies to a gold-backed dollar. But by 1971, faith in the U.S. dollar was eroding, forcing President Richard Nixon to end the dollar’s convertibility to gold. This ushered in the current status quo of relatively free-floating “fiat” currencies.
That long-ago decision still has major implications today. Over the past few months, massive coronavirus pandemic relief spending in the U.S. has triggered worries that faith in the dollar’s soundness could be shaken again as it was 50 years ago. The dollar’s share of central bank balance sheets is still a dominant 59%, but has been slowly declining – threatening to take with it a number of economic and political advantages.
David Z. Morris is CoinDesk’s chief insights columnist. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here.
To better understand the road ahead, I’ve been examining the viability of various currencies as central bank reserves, including the euro, the Japanese yen and the Chinese yuan, as well as bitcoin or other digital instruments. That analysis will be published soon, but I wanted to hit on a few highlights of what I learned talking to currency experts.
First, despite high anxiety about the yuan’s rising influence, China faces a deep, possibly unsolvable conflict between its global currency ambitions and its domestic economic agenda: The Chinese Communist Party maintains tight currency controls to encourage domestic investment, but a reserve currency must be freely tradable.
Between that conundrum and the inconsistency of Chinese regulation, experts are generally skeptical that the yuan can climb much in the global reserve rankings anytime soon. Japan, meanwhile, doesn’t sell enough debt abroad for its bonds to take up a large share of global reserves.
Among current options, the euro seems to be the most serious competitor to the dollar, thanks to the large eurozone economy behind it and the relatively open and responsible management of the European Central Bank. A major recent step that makes this more plausible was the ECB’s decision to issue eurozone-wide bonds to fund pandemic relief programs.
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/50-years-bretton-woods-us-172010509.html
TNT:
Tishwash: Source: Al-Zaidi plans US trip; Trump meeting in works
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The source said a political intermediary who previously helped organize Al-Zaidi’s July official visit to Washington is working to secure the meeting with Trump, which has yet to be confirmed.
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About the news
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KTFA
Friday Night Video
FRANK26….9-11-26….SEE YOU SOON Z
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
KTFA:
Clare: Al-Zaidi returns to the United States after a European tour, carrying three "hot" files.
9/11/2026
An informed source revealed on Friday that Iraqi Prime Minister Ali al-Zaidi intends to travel to the United States to participate in the work of the United Nations General Assembly, following the end of his European tour, which includes France and Germany, while indicating that there are efforts to arrange a meeting between him and US President Donald Trump.
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Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Welcome everybody to the big call tonight. It is Thursday, September 10th, and you're listening to the big call. Thanks for tuning in all over the globe, wherever you are located, and we're excited to be here tonight. Looking forward to a really good call
All right, let's get into our intel segment. Let's see what we have to bring us closer and to maybe create a valid timeline for us. And sometimes, like Sue, the last thing you heard is sort of the first thing you want that you remember and want to bring out. And sort of, I'm going to do a little bit of that.
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Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Note From WiserNow: Due to unforeseen medical emergency Tuesday notes are late - Thursday night notes coming soon - Thank you for understanding
Welcome, everybody. It's a big call tonight. It is Tuesday, September 8, and you're listening to the big call. Thanks everybody for tuning in wherever you're located around the globe. We are still being piggybacked on a satellite system and getting out there. So good to know. Getting out to as many as 160 of our 209 countries. Well, that's good news, I think, for us.
Let's go from here. I appreciate Bob that segment. Thank you very much. Let's go and see where we stand with our intel tonight. There is something that one of the top bankers that we talk to, and that's sort of in charge of everything that we're looking to do with exchanges.
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Coffee with MarkZ, joined by Mr. Cottrell. 09/11/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: Codeman Friday. HCL and more today before Mr. C and then Lucas joins us.
MZ: I had some bond updates rolling in last night…..they say things were going extremely well but banks were not ready tech wise……nothing nefarious…just the process of moving through banks.
KTFA:
Clare: The Minister of Oil discusses the draft oil and gas law with a delegation from the region.
Baghdad Today - Baghdad
Oil Minister Basim Mohammed Khudair received the Minister of Natural Resources in the Kurdistan Region, Kamal Mohammed Saleh, and his accompanying delegation on Wednesday (September 9, 2026).
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KTFA
Saturday Night Video
FRANK26…9-12-26….NOT GOING
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#