Episode Details

The international monetary system is a mess, but how did it get that way? In large part, it is due to a deal that was cut in Bretton Woods, New Hampshire, in 1944. At the scene of the crime 80 years later, Matt Kibbe sits down with economics professor Larry White to dissect how the pre-World War I stable gold standard was transformed into one of fiat currencies that encourage overborrowing, overspending, and the rampant inflation we are seeing today.