bankers and specialists, accounting homework help

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write 400–600 words that respond to the following questions with

your thoughts, ideas, and comments. Be substantive and clear, and use

examples to reinforce your ideas.

In 1944, finance specialists and bankers from around the world
met to discuss what the post-WWII monetary system would be. Given the
instability of the pre-war period, the goal was to create a new system.
The outcome of this was the Bretton Woods system, which had the U.S.
dollar as the world reserve currency linked to gold at $35 an ounce. All
other currencies were tied to the dollar with limits on how much they
could appreciate or depreciate. The system lasted until the 1970s, when
the United States decided to move away from gold convertibility. The
modern system is based on supply and demand for currency and a managed
float. Discuss the following in your main post:

  • The U.S. dollar remains the world’s reserve currency. Is this good for the United States, and if so, why?
  • People usually think a “strong” dollar is good. Is this true
    for U.S. businesses, and does it help or hurt the U.S. balance of
    payments?