World Bank and IMF Become Operational: The Postwar Financial System Launches
Twenty-nine nations signed papers in a New Hampshire resort hotel, and money would never move the same way again. The Bretton Woods agreement created two institutions to prevent another Great Depression: one to lend for reconstruction, one to stabilize currencies. The U.S. held most of the gold, so the dollar became the anchor—every other currency pegged to it, and it pegged to gold at $35 an ounce. For three decades this system held. Then Nixon killed the gold standard in 1971, but the institutions survived, morphed, and now move hundreds of billions annually through economies the founders couldn't have imagined.
December 27, 1945
81 years ago
Key Figures & Places
What Else Happened on December 27
Ein Teil des römischen Klerus wählt Eulalius als Nachfolger des am Vortag verstorbenen Zosimus zum Papst. Da der am folgenden Tag ebenfalls gewählte Bonifatius …
Emperor Justinian I unveiled the Hagia Sophia in Constantinople, showcasing a massive dome that defied the architectural limitations of the sixth century. By ut…
The first Hagia Sophia burned down in 404. The second one — bigger, grander — fell to rioters in 532 during the Nika riots that nearly toppled Emperor Justinian…
prédication de la deuxième croisade, à Spire, par Saint Bernard de Clairvaux, devant l'empereur Conrad III.
Saint Dominique et Diego d'Osma fondent le monastère féminin de Prouilhe (qui ne deviendra monastère double que l’année suivante), à l’origine du développement …
Der flämische Forschungsreisende Wilhelm von Rubruk erreicht die mongolische Hauptstadt Karakorum, wo er sich mit seinen Begleitern mehrere Monate am Hof des Gr…
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