It Begins: Former UN Under-Secretary-General Calls F...DAHBOO77
- Video description
- 1 year ago
- 27,608 views
- 1,416 likes
- 652 comments
When it introduced the SDR, the Fund hoped to make it “the principal reserve asset in the international monetary system.” This remains an unfulfilled ambition; indeed, the SDR is one of the most underused instruments of international cooperation. Nonetheless, better late than never: turning the SDR into a true global currency would yield several benefits for the world’s economy and monetary system.
The idea of a global currency is not new. Prior to the Bretton Woods negotiations, John Maynard Keynes suggested the “bancor” as the unit of account of his proposed International Clearing Union. In the 1960s, under the leadership of the Belgian-American economist Robert Triffin, other proposals emerged to address the growing problems created by the dual dollar-gold system that had been established at Bretton Woods. The system finally collapsed in 1971. As a result of those discussions, the IMF approved the SDR in 1967, and included it in its Articles of Agreement two years later.
Your Support of Independent Media Is Appreciated:
If above link is for some ODD reason not working.. Try This One!
Lite Coin- LdCjbRjrtp7dEUXDnKrucfcBKaFAsHovZT
TWITCH- Dahboo Seven : https://www.twitch.tv/dahbooseven
My Other Youtube Channel- THE UNDERGROUND WORLD NEWS https://www.youtube.com/channel/UCnLrtqd5qxC_f1lOnrybpnA
UWN Facebook- https://www.facebook.com/DAHBOO7/
- Related videos