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Willem Van den ₿ergh Profile picture
Willem Van den ₿ergh
@Willem_VdBergh
Toximaxi. Bitcoin Patriot. Bitcoin cartel member. ₿elgian ₿itcoin Em₿assy @belgianbitcoin HONK HONK
Jan 14, 2019 • 7 tweets • 2 min read
1/ Impossible Trinity in the Post-war world (1944-today), some thoughts:

IT is the theoretical and empirical reality that dictates that Nation-states can only enjoy 2 of 3 economic privileges listed below;

-Sovereign monetary policy
-Free Capital flow
-Fixed exchange rate 2/ During the Bretton Woods convention of 1944 the majority of western powers came together to lay the groundwork of a new global monetary system. The USD was to be pegged to gold, other countries pegged their currency to the USD, making the dollar the world reserve currency.