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Financial and digital innovation in international business 09/10/17 …
Financial and digital innovation in international business 09/10/17 :warning:
the origin of money
debt obligation existed earlier than money
wars happened and the monarchy issued notes
the monetary system
gold standard
sticky wages
the Great Depression
WW2
Harry Dexter White
the IMF was created as a stabilisation fund
John Maynard Keynes
creation of a global central bank
be used to correct any country's imbalance of payment
Triffin's Dilemma
declining faith
Nixon abandons Bretton Woods Agreement
an obligation for each country to adopt a monetary policy that maintain the exchange rate (±1%) >
https://en.wikipedia.org/wiki/Bretton_Woods_system
US dollar became the global reserve currency without gold underpinning it
Fiat(let it be so) Currency System
pound
dollar
euro
what do banks actually do
monetary policy
quantitative easing
fiscal policy