I ran across this information this afternoon while researching the Green Hilton Agreement – Geneva 1963.
from Ayemmo Website
2008 November 28
The Green Hilton Agreement Geneva 1963
By 1961, Keynes predictions of a world monetary crisis began to become a reality.
This problem was brought about by the lack of sufficient currency (especially US Dollars) in world circulation to support the rapidly expanding international commerce. The World needed US Dollars beyond the capacity of the good faith and credit of the United States Taxpayer in order to facilitate trade.
It was not possible to break the Bretton Woods treaty due to the possible damage of the stable core of the world’s economy as this had the potential of leading to another major war. To compound the problem, the majority of dollars in circulation were in private banks, multinational corporations, private businesses and…
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