The International Monetary Scene Today and Tomorrow

The international monetary scene in the first half of 1970 is in sharp contrast with that of 1969 and of the preceding years. Further, and even more revolutionary, changes should be expected within the forthcoming years, and even months. The hurricanes, that repeatedly rocked the gold and foreign markets during the last five years, and particularly in 1969, have suddenly abated. Gold prices and the exchange-rates of all major currencies have now been hovering for months close to their official parities. How is this to be explained? And will it last? […]

Originally published in the issue Vol. 5, No. 3-4, July-December 1970, p. 375-390