Bretton Woods Agreement
Categories: Forex, International, Econ, Regulations
A multi-national agreement defining exchange rates, the relationship among the world’s governments and monetary systems, and the role of the International Monetary Fund (IMF).
One day, Franklin and his friends went to summer camp in Bretton Woods, New Hampshire, where they spent several weeks playing and getting to know each other better. At the end of camp, they agreed to stay friends forever and never do anything that would harm each other.
They called it the “Bretton Woods Agreement.” They all signed it, and nailed it to a tree at the camp for safekeeping. A few years later, Dick went to the same camp in Bretton Woods, NH, and burned the whole place down.