gold bretton

1. Gold Standard Systems

2. This is a general generic concept for fiat currency printing.
3. Basic Conceptual version of currency system.
4. Any country is allowed to choose its Gold pegging (Bullion Standard) or currency pegging (exchange standard).
5. Each currency carried a separate disconnected set of risks from other countries.
6. This general concept was used till introduction of Bretton Woods in 1944.







1. Bretton Woods System
2. This is institutionalized and policy driven concept.
3. This is disciplined refinement of Gold Standard system. It was adapted in Bretton Woods Meeting in 1944.
4. USD was in Bullion standard with hard parity. Other currencies were in exchange standard with flexible pegging.
5. US Dollar dependent system. Risk was concentrated around US Dollar.
6. This was used till 1978.




point 1 against point 1
point 2 against 2
and so on