Reflections About the Future of the North American Dollar

In the last months of 1944, World War II was about to end and the United States had become the undisputed world’s leading economic power. In this context, what was known today as the Bretton Woods Conference was installed. In this Conference, the International Monetary Fund and the World Bank were c...

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Detalles Bibliográficos
Autor: Salgado Defranc, Eddy
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2016
País:Ecuador
Institución:Universidad Tecnológica Equinoccial
Repositorio:Revistas Universidad Tecnológica Equinoccial
Idioma:español
OAI Identifier:oai:ojs.ute.edu.ec:article/176
Acceso en línea:https://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/176
Access Level:acceso abierto
Palabra clave:reserve currency
Richard Nixon
Charles de Gaulle
John Maynar Keynes
Bretton Woods
moneda de reserva
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spelling Reflections About the Future of the North American DollarReflexiones Acerca del Futuro del Dólar NorteamericanoSalgado Defranc, Eddyreserve currencyRichard NixonCharles de GaulleJohn Maynar KeynesBretton WoodsBretton WoodsRichard NixonCharles de GaulleJohn Maynar Keynesmoneda de reservaIn the last months of 1944, World War II was about to end and the United States had become the undisputed world’s leading economic power. In this context, what was known today as the Bretton Woods Conference was installed. In this Conference, the International Monetary Fund and the World Bank were created, and the US proposal to convert the dollar into currency world was accepted. After the signature of the agreement, it is attributed to Charles de Gaulle (future president of France) the phrase that the United States could buy the world with papers. For this not to happen, the United States pledged to exchange their dollars for gold at a rate of $ 35 a troy ounce. That is, when some Central Bank of the world had hoarded dollars, it could approach the Federal Reserve Bank and exchange these for gold. However, the US was losing its reserves in gold, reason why in 1971 it only could answer for the 17% of the dollars that were circulating in the world. In these circumstances, President Richard Nixon, on August 15 of that year, declared the dollar’s inconvertibility in gold. Since that date, the dollar has become a fully fiduciary currency (depends on the dollar’s confidence) and many authors now agree that the greatest support of the US dollar is actually the US war capacity.El comportamiento de la balanza comercial es un elemento fundamental en la toma de decisiones económicas, financieras y sociales de los países; por lo tanto, se hace necesario tomar en consideración su comportamiento. Es por ello que en el presente estudio se exhiben los resultados obtenidos en la balanza comercial del Ecuador, todo esto con la finalidad de identificar el comportamiento de la balanza comercial en el país en estos últimos cinco años e identificar el porcentaje de participación de la balanza comercial respecto del Producto Interno Bruto en el Ecuador y el crecimiento tanto del PIB como de la balanza comercial.Universidad UTE2016-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewedEvaluado por paresapplication/pdfhttps://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/17610.29019/eyn.v7i2.176Economía y Negocios; Vol. 7 No. 2 (2016): Journal Economía y Negocios (July - December 2016); 64-69Economía y Negocios; Vol. 7 Núm. 2 (2016): Revista Economía y Negocios (Julio - Diciembre 2016); 64-692602-8050reponame:Revistas Universidad Tecnológica Equinoccialinstname:Universidad Tecnológica Equinoccialinstacron:UTEspahttps://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/176/171Derechos de autor 2016 El Autorhttps://creativecommons.org/licenses/by/3.0/ec/info:eu-repo/semantics/openAccess2023-07-01T16:29:52Zoai:ojs.ute.edu.ec:article/176Institucionalhttps://www.ute.edu.ec/revistas-ute/Universidad privadahttps://www.ute.edu.ec/..Ecuador.1390-65421390-6542opendoar:02023-07-01T16:29:52Revistas Universidad Tecnológica Equinoccial - Universidad Tecnológica Equinoccialfalse
dc.title.none.fl_str_mv Reflections About the Future of the North American Dollar
Reflexiones Acerca del Futuro del Dólar Norteamericano
title Reflections About the Future of the North American Dollar
spellingShingle Reflections About the Future of the North American Dollar
Salgado Defranc, Eddy
reserve currency
Richard Nixon
Charles de Gaulle
John Maynar Keynes
Bretton Woods
Bretton Woods
Richard Nixon
Charles de Gaulle
John Maynar Keynes
moneda de reserva
title_short Reflections About the Future of the North American Dollar
title_full Reflections About the Future of the North American Dollar
title_fullStr Reflections About the Future of the North American Dollar
title_full_unstemmed Reflections About the Future of the North American Dollar
title_sort Reflections About the Future of the North American Dollar
dc.creator.none.fl_str_mv Salgado Defranc, Eddy
author Salgado Defranc, Eddy
author_facet Salgado Defranc, Eddy
author_role author
dc.subject.none.fl_str_mv reserve currency
Richard Nixon
Charles de Gaulle
John Maynar Keynes
Bretton Woods
Bretton Woods
Richard Nixon
Charles de Gaulle
John Maynar Keynes
moneda de reserva
topic reserve currency
Richard Nixon
Charles de Gaulle
John Maynar Keynes
Bretton Woods
Bretton Woods
Richard Nixon
Charles de Gaulle
John Maynar Keynes
moneda de reserva
description In the last months of 1944, World War II was about to end and the United States had become the undisputed world’s leading economic power. In this context, what was known today as the Bretton Woods Conference was installed. In this Conference, the International Monetary Fund and the World Bank were created, and the US proposal to convert the dollar into currency world was accepted. After the signature of the agreement, it is attributed to Charles de Gaulle (future president of France) the phrase that the United States could buy the world with papers. For this not to happen, the United States pledged to exchange their dollars for gold at a rate of $ 35 a troy ounce. That is, when some Central Bank of the world had hoarded dollars, it could approach the Federal Reserve Bank and exchange these for gold. However, the US was losing its reserves in gold, reason why in 1971 it only could answer for the 17% of the dollars that were circulating in the world. In these circumstances, President Richard Nixon, on August 15 of that year, declared the dollar’s inconvertibility in gold. Since that date, the dollar has become a fully fiduciary currency (depends on the dollar’s confidence) and many authors now agree that the greatest support of the US dollar is actually the US war capacity.
publishDate 2016
dc.date.none.fl_str_mv 2016-12-01
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed
Evaluado por pares
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/176
10.29019/eyn.v7i2.176
url https://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/176
identifier_str_mv 10.29019/eyn.v7i2.176
dc.language.none.fl_str_mv spa
language spa
dc.relation.none.fl_str_mv https://revistas.ute.edu.ec/index.php/economia-y-negocios/article/view/176/171
dc.rights.none.fl_str_mv Derechos de autor 2016 El Autor
https://creativecommons.org/licenses/by/3.0/ec/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Derechos de autor 2016 El Autor
https://creativecommons.org/licenses/by/3.0/ec/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad UTE
publisher.none.fl_str_mv Universidad UTE
dc.source.none.fl_str_mv Economía y Negocios; Vol. 7 No. 2 (2016): Journal Economía y Negocios (July - December 2016); 64-69
Economía y Negocios; Vol. 7 Núm. 2 (2016): Revista Economía y Negocios (Julio - Diciembre 2016); 64-69
2602-8050
reponame:Revistas Universidad Tecnológica Equinoccial
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instacron_str UTE
institution UTE
reponame_str Revistas Universidad Tecnológica Equinoccial
collection Revistas Universidad Tecnológica Equinoccial
repository.name.fl_str_mv Revistas Universidad Tecnológica Equinoccial - Universidad Tecnológica Equinoccial
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