Barely a month after the Normandy landing in 1944, the Allied powers were already thinking of what the post-war world would look like.

One of the big issues was the creation of a monetary system which could replace the then abandoned gold standard.

So at a resort in New Hampshire, representatives from 44 countries hammered out a new international

monetary system which would govern the world for the next 25 years.

Learn more about the Breton Wood system

and how parts of it still influence the world today

on this episode of Everything Everywhere Daily. With Lloyd's bank ready-made investments, you choose a risk level that feels right for you.

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Capital at risk internet banking customers only, account fees and charges apply. You've probably heard the expression that history repeats itself.

Well, many of the powers that be, to their credit, actively tried to make sure that the

end of the Second World War wasn't a repeat of the

First World War. The extreme sanctions which were placed upon Germany were

largely responsible for the subsequent hyper-inflation in the Weimar Republic and

the rise of the Nazi Party.

Moreover, during the Great Depression, many countries began a currency war where they devalued their

currencies to gain an economic advantage.

Now you might wonder why a country would purposely devalue their currency.

By devaluing your currency, you make imported items more expensive and exported items cheaper.

During the Depression, many countries use this strategy to try to boost employment by increasing exports.

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