Why did the money system of the Gold Standard vanish in 1971 (Breton Woods Agreement)
Why did the money system of the Gold Standard vanish in 1971 (Breton Woods Agreement)?
The Gold Standard was a monetary system where a country's currency was linked to its gold reserves. It was abandoned in 1971, leading to a new system known as the Bretton Woods Agreement. This article explores the reasons behind the shift and its consequences, including increased volatility and inflation.
