INR 3003 Lecture Notes - Lecture 11: International Monetary Fund, Normandy Landings, John Maynard Keynes

• School: FSU
• Department: International Affairs
• Course: INR 3003
• Professor: Whitney Bendeck

Document Summary

Wanted gold teeth - had to apply to the government for gold fillings: readjusting the price of gold from . 67 per ounce to per ounce. Devalued : countries started asking for 20146$ in return for gold, gold started flowing in the states and dollars out, beggar - thy - neighbor protectionism, as countries started seeing their economies fall apart they would. Boost their exports: sell more goods and make more money, do(cid:374)"t (cid:271)uy a(cid:374)ythi(cid:374)g (cid:271)ut (cid:374)e(cid:272)essities, trying to reverse the effects of the depression ^^^, high tariffs on imported goods. To achieve this they had to devalue their currencies. If the e(cid:272)o(cid:374)o(cid:373)y (cid:449)as shifti(cid:374)g a little, it (cid:449)ould(cid:374)"t (cid:271)e drasti(cid:272) International monetary fund (imf: was set up as a central bank for the world --> an emergency bank, all imf member nations --. Contribute by gdp (the us was the major backer since the beginning: so there is a money reserve.