In the 30 years since the collapse of the last gentlemanly agreement on currency rates, many momentous events have occurred that have affected currencies worldwide. The Japanese yen gained prominence because of Japan's heavy export relationship with...

In 1971, the Smithsonian Agreement replaced the Bretton Woods Agreement and authorized forward currency contracts, adding validity to the Eurodollar phenomenon. It didnt work. A year later the European Joint Float was established. It, and the...

In 1971, the Smithsonian Agreement replaced the Bretton Woods Agreement and authorized forward currency contracts, adding validity to the Eurodollar phenomenon. It didnt work. A year later the European Joint Float was established. It, and the...

In the 30 years since the collapse of the last gentlemanly agreement on currency rates, many momentous events have occurred that have affected currencies worldwide. The Japanese yen gained prominence because of Japan's heavy export relationship with...

Once again, we are hit with the triumvirate of war, the restrictive gold standard, and dollars in foreign banks.This time, each problem was feeding directly off of the others. The Vietnam Conflict had drained our gold reserves heavily. By 1970, Fort...