http://www.zerohedge.com/news/2012-10-05/guest-post-gold-and...<<"It was the outcome of an unbelievable collective mistake, which, when people become aware of it, will be viewed by history as an object of astonishment and scandal"-Jaques Reuff 1972>><< Triffin exposed serious flaws in the Bretton Woods monetary system and perfectly predicted its inevitable demise yet his work remains largely ignored and unstudied by today's mainstream economists. This "flaw" became known as the Triffin dilemma, and many believe Triffin's dilemma has as serious implications today as it did 50 years ago. In short, Triffin proposed that when one nations currency also becomes the worlds reserve asset, eventually domestic and international monetary objectives diverge. Have you ever wondered how it's possible that the USA has run a trade deficit for 37 consecutive years?>> This fairly concise article by Joe Yasinski and Dan Flynn is as macro as you can get, and provides a clear understanding of our present world fiat monetary system that replaced Bretton Woods, and how it is certain to run off the rails just like Bretton Woods did. It posits that the system failure is already underway. Very clear and logical stuff. Ed.
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