We went to Mount Washington today. It is the highest point in New Hampshire and boasts the most variable weather in the U.S. The highest wind speed ever recorded in the world was recorded on the peak in 1934. For us, however, it was a beautiful day, just a little chilly.
Once again, I was impressed with the beauty of New Hampshire. The northern part of the state is mountainous and almost completely forest covered. What is not covered by trees features neat towns. I could live here for a long time. It is clean and peaceful. Beyond that, there is the intellectual power here of great universities.
This is the Bretton Woods resort at the base of Mount Washington. The allies met here in July 1944 and created the monetary system that helped ensure world growth for a generation after World War II. Most important aspects were exchanged rates fixed to the dollar and the dollar fixed to gold at $35 an ounce. The dollar replaced gold as the world standard. They also created the IMF, GATT (which evolved into the WTO) and the World Bank. It was a momentous meeting. Anti Globalists should hate this place. It was the start of our modern global economy. The dollar remained the “gold standard” until 1973. I don’t remember who caused it to fall. Probably the French or Richard Nixon. The institutions created at Bretton Woods are still with us.
