What’s the “Bretton Woods” System?

While today the U.S. is in a trade war with China, the foundations of international trade were laid to avoid war altogether. In this video, Trade Guy Bill Reinsch gives a quick rundown of the Bretton Woods System, the system of global trade that emerged at the end of WWII. Why do we trade with other countries? Watch this video.

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Video by Sofie Kodner and Frances Burkham

[partner]

It's unbelievable how many video posters do not understand how misplaced their loud powerchorded rock music is.

[carolynprime]

This could be much improved without the overbearing background music. The content is excellent :)

[kingifrit]

you forgot the most important 4th leg, the american military which acts as the enforcement arm holding the agreement together and policing shipping lanes

[Luketc]

Who else is here because their teacher is making you watch this cause of corona

[danielnewhouse]

1:48 "Free trade" advocated. The WTO upholds the rules. What they don't really outline is that Bretton Woods (July 1 to 22, 1944)-> GATT (General Agreement on Tariffs and Trade, originally 30 Oct, 1947) -> GATT II (GATT 1994, a Bill Clinton milestone)-> WTO (world trade organization).

[jeniferkpundeh]

Nicely executed after trying many channels on this app. Thanks very much “The trade guy “☺️🤣👑

[jeffreysung]

You forgot something. US$ = Gold that was back before Nixon

[eustaquiojr.felixc.]

SHOUT OUT SA MGA TAGA PUP SRC SIGE GAWA NA ULIT KAYO NG ACTIVITY

[jackv]

Wrong on all accounts, poverty is a symptom of a deeper root cause. That deeper root cause being the absence of the ancient free market, economic freedom. By giving people jobs you are only addressing the the symptom. Like implementing a Band-Aid treatment to a very deep wound that requires stitching. Giving people economic freedom allows them to create their own work and thus the ability to build wealth. What he's talking about only serves as a means to maintain a monopoly over economies. In fact we determine the misery index by calculating diminishing economic freedoms and the absence of sound money to give us the formal misery index. Thus it is through the misery index that we understand that the true root cause of all human generated misery stems directly from the monopolization over the economy and the money supply. While it is true that the unemployment rate and rate of inflation are used to derives with misery index, ultimately the unemployment rate and rate of inflation are due to Monopoly over the economy and money supply. It is also Monopoly over the world economy and its money supply what creates economic boom bust Cycles that ends with the transfer of wealth from the many to the few. there is nothing new about economic boom bust Cycles as they have been occurring since 200 BC and all as a result of government policy that benefit of the few at the detriment of the many. having the effect of returning the people back to the plantation to varying degrees. Monopoly over economy money supply dates back to the Sumerians 4000 years ago. The World Monetary fund and the remaining two other legs of the table to use his analogy Act ask crack dealers making certain 30 conomic participants become hooked and under the control oval very few at the expense of the majority. Enslaving them with that from My Monopoly money created out of thin air with no intrinsic value and to be paid back on an interest rate which could never be paid back, ensuring that's slavery from one generation to another. you require no tinfoil-hat to understand this but only more time dedicated to researching I'm developing a very good working knowledge base on how this realm actually operates. And you can determine how the people can be justifiably classified as slave does not require us to venture into crazy lizard people conspiracy theories but again only good working knowledge base on how this world's economic and monetary system operates. lastly please give me a thumbs down or thumbs up so that I know my comment was not deleted for speaking the truth. PS did I mention that the three legs of the table represents the monopolists ability to continue to maintain a monopoly over the world economy and its money supply LMAO

[brenttravis]

Glad to see they're intelligent people who can see through this

[jannmikoingelrabagogamingc]

The three legs of the tripod stool that guide the world in the post-war (by The Bretton Woods System):
1. International Monitary Fund (IMF)
2. The World Bank (also called the International Bank for Reconstruction and Development (IBRD))
3. World Trade Organization

[MrCTruck]

This is really funny because the system described brought depression and conflict through poverty, the exact thing it sought to mitigate

[reigiputra]

what system? system who could control the world? making the rich always rich... US....

[ms]

Im sure he had some great points but the ‘background music’ seemed to matter more for the editor

[danielnewhouse]

According to another video, the Bretton Woods system ended in 1971.

[vickywieck]

Isn’t the GATT also part of the Breton Woods Institutions? 😅

[rybojames]

Bretton Woods concept gave America an alliance, NATO, and gave Europe, Japan, and even China prosperity. Arguably, since the '70's, America did not prosper due to trade deals but despite them, but was worth it due to the alliance. After 1992, with the collapse of the Soviet Union, the alliance has been obsolete and the trade deals are still completely off balance with very little benefits for America. Basically, only buying us some occasional votes in the UN, and dollar store products. Somewhere along the way, the powers that be seem to have forgot to invest in our financial future.The world elite class benefits from cheaper luxury goods and certainly want more always. The middle class is under siege by the transfer of jobs and wealth to other countries, by the mass immigration of people that the elites see as a continuing source of underpaid labor here, and people living in gated communities telling us that we should love it and embrace the "diversity" of it all. Meanwhile, the crime, drugs, and gangs earn more sympathy by the elitist media than the victims of such. Social elites drive the stake in deeper by trying to convince the middle class that we are not victims, but the villains instead.

[grahamwatkiss]

Do you think we're heading for another Bretton Woods?

[andykay]

Read John Perkins' book "Confessions of an Economic Hit Man."

[murtadhanasser]

And now in 2019 we study this in iraq 😪