{"id":3068,"date":"2010-11-14T23:59:05","date_gmt":"2010-11-14T23:59:05","guid":{"rendered":"http:\/\/politics.widmann.org.uk\/?p=2972"},"modified":"2010-11-14T23:59:05","modified_gmt":"2010-11-14T23:59:05","slug":"first-the-gold-standard-then-bretton-woods-then-floating-exchange-rates-and-now-what","status":"publish","type":"post","link":"https:\/\/widmanniana.org\/blog\/first-the-gold-standard-then-bretton-woods-then-floating-exchange-rates-and-now-what\/","title":{"rendered":"First the gold standard, then Bretton Woods, then floating exchange rates, and now what?"},"content":{"rendered":"<div style=\"float: left; margin-right: 10px; margin-bottom: 10px;\">\n<a href=\"http:\/\/www.flickr.com\/photos\/robinpresta\/3615776764\/\" title=\"photo sharing\"><img decoding=\"async\" src=\"http:\/\/farm4.static.flickr.com\/3368\/3615776764_dcfefa3b0c_m.jpg\" alt=\"\" style=\"border: solid 2px #000000;\" \/><\/a><br \/>\n<span style=\"font-size: 0.9em; margin-top: 0px;\"><br \/>\n<a href=\"http:\/\/www.flickr.com\/photos\/robinpresta\/3615776764\/\">Bretton Woods<\/a><br \/>\nOriginally uploaded by <a href=\"http:\/\/www.flickr.com\/people\/robinpresta\/\">robinpresta<\/a><br \/>\n<\/span>\n<\/div>\n<p>Edmund Conway (who is always worth reading) has written a very insightful article about the <a href=\"http:\/\/www.telegraph.co.uk\/finance\/comment\/edmundconway\/8131605\/How-the-Tea-Party-is-brewing-up-trouble-for-the-worlds-currencies.html\">shift in international monetary structures<\/a>.<\/p>\n<p>He points out that the current system (floating exchange rates) has become unstable because &#8220;many developing nations (typified by China) have chosen instead to fix their currencies (in an effort to protect their exports)&#8221;, which means that &#8220;the world\u2019s monetary system is being run in two incompatible ways&#8221;.  (He doesn&#8217;t mention the euro in that context, but I presume it must be another factor in the break-down of the floating exchange rate system.)<\/p>\n<p>Although he lists two possible outcomes, he seems to think that the problems won&#8217;t completely go away until China overtakes the US as the main economic power of the World.<\/p>\n<p>It&#8217;s definitely worth reading the whole thing!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bretton Woods Originally uploaded by robinpresta Edmund Conway (who is always worth reading) has written a very insightful article about the shift in international monetary structures. He points out that the current system (floating exchange rates) has become unstable because &#8220;many developing nations (typified by China) have chosen instead to fix their currencies (in an effort to protect their exports)&#8221;, which means that &#8220;the world\u2019s monetary system is being run in two incompatible ways&#8221;. (He doesn&#8217;t mention the euro in that context, but I presume it must [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,159,130],"tags":[],"class_list":["post-3068","post","type-post","status-publish","format-standard","hentry","category-economics","category-en","category-politics"],"_links":{"self":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/3068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/comments?post=3068"}],"version-history":[{"count":0,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/3068\/revisions"}],"wp:attachment":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/media?parent=3068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/categories?post=3068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/tags?post=3068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}