Bretton Woods system
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The Bretton Woods system of monetary management established the rules for commercial relations among 44 countries, including the United States, Canada, European countries, and Australia, after the 194
Cordell Hull, U.S. Secretary of State 1933–44
Roosevelt and Churchill's secret meeting of 9–12 August 1941 in Newfoundland resulted in the Atlantic Charter, which the U.S. and Britain officially announced two days later.
John Maynard Keynes (right) and Harry Dexter White at the inaugural meeting of the International Monetary Fund's Board of Governors in Savannah, Georgia, U.S., 8 March 1946
Nixon shock
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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of
Bretton Woods system
…this decision was made without consulting members of the international monetary system or even his own State Department and was soon dubbed the "Nixon Shock". The August shock was followed by efforts under U.S. leadership to reform the international monetary system. Throughout the fall (autumn) of 1971, a…
Richard Nixon in 1971
U.S. Treasury Secretary John Connally, photographed on the day Nixon's policies were announced, was the primary political force behind them.