Akhir dari Sistem Mata Uang Emas - The end of the Bretton Woods System (1972–81)
Saya lihat sebetulnya pematokan mata uang dollar ke emas berjalan cukup baik
hingga tahun 1971. Untuk setiap uang kertas dollar yang dikeluarkan ada jaminan
emasnya. Jadi pemerintah AS tidak bisa semena2 mencetak uang dollar. Para
spekulan uang juga sulit berspekulasi pada mata uang karena dipatok tetap
terhadap emas.
Namun perang Vietnam membuat pengeluaran pemerintah AS membengkak. Pemerintah
AS harus mencetak dollar jauh di atas jaminan emas yang dimiliki.
Jadi sebetulnya keserakahan dan peranglah yang membuat emas tidak dipakai
sebagai patokan/jaminan. Pemerintah AS bebas mencetak dollar sebanyak2nya untuk
membiayai perang.
Nilai dollar dan juga uang kertas lainnya ditentukan oleh para pelaku Pasar
Uang.
Sialnya jika orang masih percaya dgn dollar AS, terhadap rupiah tidak begitu.
Untuk menjamin nilai rupiah, pemerintah Indonesia harus mendapatkan dollar
sebagai jaminan agar nilai rupiah stabil.
Jika AS tinggal tekan tombol printer untuk mencetak dollar, untuk mendapatkan
dollar, Indonesia harus menjual migas dan kekayaan alamnya, berhutang, serta
mengundang investor asing. Indonesia akhirnya jadi terjajah karena kekayaan
alam dan perekonomiannya dikuasai asing.
Perusahaan asing kaya raya dan masuk dalam daftar perusahaan terkaya versi
Forbes 500, sementara mayoritas rakyat Indonesia hidup dalam kemiskinan.
The end of the Bretton Woods System (1972–81)
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Keywords: IMF, About the IMF
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Video (3:29): Former U.S. President Richard Nixon announces end of dollar link
to gold
U.S. gas station during the 1970s oil price shock.
U.S. gas station during the 1970s oil price shock.
Related Links
* End of Bretton Woods system
* Nixon address
* 1973 oil crisis
* IMF chronology
* IMF Articles of Agreement
* IMF-World Bank library
* List of IMF managing directors
By the early 1960s, the U.S. dollar's fixed value against gold, under the
Bretton Woods system of fixed exchange rates, was seen as overvalued. A sizable
increase in domestic spending on President Lyndon Johnson's Great Society
programs and a rise in military spending caused by the Vietnam War gradually
worsened the overvaluation of the dollar.
End of Bretton Woods system
The system dissolved between 1968 and 1973. In August 1971, U.S. President
Richard Nixon announced the "temporary" suspension of the dollar's
convertibility into gold. While the dollar had struggled throughout most of the
1960s within the parity established at Bretton Woods, this crisis marked the
breakdown of the system. An attempt to revive the fixed exchange rates failed,
and by March 1973 the major currencies began to float against each other.
Since the collapse of the Bretton Woods system, IMF members have been free to
choose any form of exchange arrangement they wish (except pegging their
currency to gold): allowing the currency to float freely, pegging it to another
currency or a basket of currencies, adopting the currency of another country,
participating in a currency bloc, or forming part of a monetary union.
Oil shocks
Many feared that the collapse of the Bretton Woods system would bring the
period of rapid growth to an end. In fact, the transition to floating exchange
rates was relatively smooth, and it was certainly timely: flexible exchange
rates made it easier for economies to adjust to more expensive oil, when the
price suddenly started going up in October 1973. Floating rates have
facilitated adjustments to external shocks ever since.
The IMF responded to the challenges created by the oil price shocks of the
1970s by adapting its lending instruments. To help oil importers deal with
anticipated current account deficits and inflation in the face of higher oil
prices, it set up the first of two oil facilities.
Helping poor countries
>From the mid-1970s, the IMF sought to respond to the balance of payments
>difficulties confronting many of the world's poorest countries by providing
>concessional financing through what was known as the Trust Fund. In March
>1986, the IMF created a new concessional loan program called the Structural
>Adjustment Facility. The SAF was succeeded by the Enhanced Structural
>Adjustment Facility in December 1987.
http://www.imf.org/external/about/histend.htm
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