Must see video:
The True Story of the Bretton Woods
Two interesting takeaways:
- Great Britain's wrecking of Bretton Wood reveals how regulation becomes nothing absent a willingness to enforce the rule of law backing agreements, much the same circumstance as has led to our most recent financial crisis.
- British pound's devaluation was to wrecking the industrial prowess of the United States as the present push to devalue the U.S. dollar is to destroying the sovereign nation state.