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The other Nations agreed.But soon, as often happens with positive agreements, the Bretton Woods Agreement went South. The reason: the Vietnam war. Paralyzed by the mounting debt for financing the Vietnam war, then President Nixon violated the very agreement he had proposed, by printing more money than there was Gold to guarantee it. As a result, the other World powers, prudently removed themselves from any possible connection to the faltering U.S. economy.As a result, it was now National, not International Currency standards that became the focus of interest and attention. Each country basing their money's value on the particular economic realities within it's borders. What we now refer to as "FOREX", is a contraction of two words - "Foreign" and "exchange." Before that, "Forex" began it's linguistic Life as plain old "exchange rate."

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