STEP 2. Preparations for the New System.
Preparations for a change in the financial and economic system go back to the early Bretton Woods conference. This was after WW2 when the major countries made the U.S. dollar the `lender of last resort.` However they knew that eventually the world needed a system which was based on the backing of all the major countries.
Creation of the IMF.
Thus the IMF, (International Monetary Fund) was created. At first the IMF was to promote internatio
