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The End of the Bretton Woods System | On This Day
Posted
August 15, 2024
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August 15, 2024
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2:16Now PlayingOn this day, August 15th, 1971, US President Richard Nixon pitched to the nation a firehose of economic policy changes designed to combat an economic winter that has seen inflation triple over two years. The unemployment rate spike above 6%, and a balance of payments surplus reverse to a soaring deficit. Facing intense voter pressure to avoid another recession.
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