What did the Bretton Woods Accord have to do with the 1973 oil crisis?
replied to: MonarchX
Replied to: What did the Bretton Woods Accord have to do with the...
In 1971, the US pulled out of the Bretton Woods Accord, which took the US dollar off the Gold Exchange Standard.
replied to: swartzy
Replied to: In 1971, the US pulled out of the Bretton Woods Accord,...
Other developed nations did the same. They began to produce more currency in anticipation of rate fluctuation in the short term.