Talk:Bretton Woods Conference
You can't stop trade between people. Without trade, people starve. So aggregate exchange rates have to be established between local communities for cross border transactions. These exchange rates for cross border transactions are handled between bankers. The Bretton Woods conference established between bankers who pays who for what. RobSGive Peace a chance 07:12, March 3, 2023 (EST)
More precisely what institution would accept payment from, or make payment to which institution on an approved list to count their total assets for as a qualified borrower or lender. This is called the Bretton Woods System. Some of these institutions didn't exist before the conference, and were created out of the conference with aggregate assets of lenders to provide working capital. The institutions are the World Bank, the International Monetary Fund to reconcile accounts annually between member states. And the Bank for International Settlements to settle mostly civil claims between actors. RobSGive Peace a chance 07:22, March 3, 2023 (EST)