e a modified adjustable-peg system was formed, in addition to this new innovative system, the International Monetary Fund was formed. For many years the Bretton Woods adjustable-peg system worked well. This system became more and more dependent of the United States currency's value. Since from the inception of the IMF in 1946 the United States government would exchange currency so that one ounce of gold equaled 35 US dollars. As more and more people found that 1 ounce of gold for 35 dollars was barg
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