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| | Wikinfo | Bretton Woods system (Site not responding. Last check: ) |
 | | The chief features of the Bretton Woods system were, first, an obligation for each country to maintain the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold; and, secondly, the provision by the IMF of finance to bridge temporary payments imbalances. |
 | | The attempt to maintain that peg collapsed in November 1968, and a new policy program was attempted: to convert Bretton Woods to a system where the enforcement mechanism floated by some means, which would be set by either fiat, or by a restriction to honor foreign accounts. |
 | | The collapse of the Bretton Woods system is a subject of intense debate, there are a variety of theories as to why it did so, ranging from the budget deficit problems, to blaming the Vietnam War, to marginal tax rates. |
| www.wikinfo.org /wiki.php?title=Bretton_Woods_system (9260 words) |
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