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Deficits are a major challenge to the dollar-based system
On August 15, 1971 — exactly 49 years ago — the gold-pegged Bretton Woods system collapsed.
After nations began to demand redeeming dollars for gold, President Richard Nixon shocked the world with the following after secret meetings at Camp David:

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Search Web: Today is 49 years since Bretton Woods. Why it matters more than ever

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