In the 30s, scholars and policymakers concluded that the Versailles Treaty that ended World War I was one of the prevalent causes of World War II.

Before World War II was over, U.S. President Franklin D. Roosevelt and British Prime Minister Winston Churchill were looking past the war to focus on establishing an international monetary system.

Still, today there are a lot of misconceptions, even among people who follow monetary history, about how the exchange theory system worked.

Jim Rickards is an American investment banker, lawyer, economist, op-ed contributor, and author. His books include, Currency Wars: The Making of the Next Global Crisis, The Death of Money: The Coming Collapse of the International Monetary System,and now available for pre-order,  Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy.

Jim joins me on this episode of The Wiggin Sessions to share his knowledge about pre and post war currency standards, the Bretton Woods system, and why the US dollar was pegged as the international currency. Plus, what happened to end the gold standard in 1971. Join me for Part 2 of my conversation with Jim for a look at the difference between a recession, a depression, and a financial crisis and why the US dollar rallies during inflationary periods (like the one we are in now.)

Key Takeaways

Jim shares the background and the forty-four nations that met at the Mount Washington Hotel to participate in the Bretton Woods Conference.

Why the US dollar was pegged as the international currency

A look at the 3 Bretton Woods institutions: the IMF, the World Bank, and the World Trade Organization that still operate today

How trade deficits led to a run on Fort Knox and the depletion of the US gold stores

How the Smithsonian Agreement devalued the US Dollar

Connect with Jim Rickards

Paradigm Press

Jim on Twitter

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Connect with Addison Wiggin

Consilience Financial

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Resources

Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy

The Death of Money: The Coming Collapse of the International Monetary System

Bretton Woods Conference

Jim Rickards-Democracy, Cryptocurrencies, and Global Control-EP40

Jim Rickards – Insider Reveals Predictions and Opinions About The Great Reset, Global Elite, And The Potential Coming Chaos - EP17