"...The victorious Americans and British created a new international economic order after the Second World War, featuring a gold-exchange standard to keep currencies stable and the creation of money under control, the IMF to make international finance work smoothly and discipline errant nations, and the WTO to promote international trade. The United States also emerged from the New Deal with a very tightly regulated banking system...." DK
The gold standard was not new after WWII.
The WTO was created only in 1995, under Clinton.
The United States has never ever had a very tightly regulated banking system.
The Federal Reserve System is in fact a highly unregulated private banking system.
No comments:
Post a Comment