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At least twice a year I'm doing seminars or short classes to keep up on the latest developments. I kind of envy my husband as he's a graphic artist who simply reads blogs and magazines to keep up on the latest info about his work. The latest program I needed to take was being offered in only a few places, none of them close to home, so hubby and I sat down to determine the best option for me as far as him being Mr. Mom to our little girl, travel time, etc. "Ugh, Milwaukee in November just doesn't sound like fun. Gonna be cold, miserable, and I hate the Packers, why would I want to go there?" He chuckled at that. "Well, the weather will be better in Phoenix, that's for sure, it'll be the easiest flight, too. Direct from SeaTac unless I'm mistaken." "Yeah, but I'm no desert girl, I like my greenery. You might think I'm crazy, but what do you think of New York City?" He frowned. "It'll be a longer flight, more expensive for your hotel, more hassles, and a lot of other things." "Yes, but. "As you probably know, I am a teacher. Part of being a teacher is being a student. Tonight, I am your student. Over the course of the next two and one half hours, I would like a crash course in international finance and banking so that we can figure out how we arrived at our current state of affairs. Who would like to start?"James Courie from the Federal Reserve began speaking."Many of the financial problems that we face today can be traced back to Lyndon Johnson's attempts to pay for the Vietnam War and his War on Poverty without a tax increase. This resulted in deficits and set the stage for the inflation that took hold in the early 70s because the U.S. government began printing more and more money in order to pay its bills. Because of that, the dollar weakened in relationship to gold and to other currencies. By 1971, it was evident that the Bretton Woods system of a set dollar price for gold came apart." What exactly was Bretton Woods?" interjected the President."In 1944, the.
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