Lust for gold not paying off
BRETTON Woods, New Hampshire, the United States – That’s where it all began in July 1944, where 730 delegates from 44 nations gathered to conclude the final articles of agreement of the International Monetary Conference (IMC). It established the new international monetary system tying the value of countries’ currencies to US dollar, which was convertible into gold at a fixed price (US$35 per troy ounce). The United States then held 70% of world’s gold.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!