"The 1971 Death of Bretton Woods Marked Keynes Monetary Triumph"

Money was cut loose to find its own level, which was invariably, year by year, decade by decade, a lower one... in terms of gold.

Housekeeping: Their lead article is attached. It’s great in our opinion…. We’ll send more this weekend

Under the Bretton Woods protocols, the dollar was made convertible into gold at $35 an ounce, while the other leading currencies were made convertible into the dollar .

The collapse of the Bretton Woods system, in 1971 marked Keynes’s monetary triumph…