> The agreements finally reached at the [1944] Bretton Woods conference ... invented the International Monetary Fund and, as a subsidiary institution, the International Bank for Reconstruction and Development (or World Bank). Finally, to eliminate rival forums that might be hostile to these objectives, they advocated the destruction of the Bank for International Settlements. But almost every element of this mosaic was subsequently undermined.
> After the end of World War II.. during the Bretton Woods Conference it was decided to abolish the BIS “at the earliest possible moment,” because it was considered that the BIS would have no useful role to play once the newly created World Bank and International Monetary Fund were operational. European central bankers held a different opinion, and successfully lobbied for maintaining the BIS.
If you’re trying to understand modern central banking, Bretton Woods is a bad start. As you note, it was largely dismantled. You’ll get hung up on complexities and conspiracies that went nowhere in the end. It’s like studying a non-reserve central bank to understand the Fed, gold-era banking to figure the BoE or a horse to grok an engine.
> there are university economic courses and textbooks on central banking
There are more people who would benefit from knowledge of the system than those for whom it makes sense to pursue those courses. The books suggested by the article are a good start. Anything focussing on Bretton-Woods is not.
> The agreements finally reached at the [1944] Bretton Woods conference ... invented the International Monetary Fund and, as a subsidiary institution, the International Bank for Reconstruction and Development (or World Bank). Finally, to eliminate rival forums that might be hostile to these objectives, they advocated the destruction of the Bank for International Settlements. But almost every element of this mosaic was subsequently undermined.
https://www.researchgate.net/publication/323947229_IMF_BIS_a...
> After the end of World War II.. during the Bretton Woods Conference it was decided to abolish the BIS “at the earliest possible moment,” because it was considered that the BIS would have no useful role to play once the newly created World Bank and International Monetary Fund were operational. European central bankers held a different opinion, and successfully lobbied for maintaining the BIS.