![]() ![]() ![]() But that was the idea that “broke the world,” Ahamed says. Bank of England governor Montagu Norman restored order to the entire international financial system by re-establishing a relationship between the value of the pound and gold. Haughty Émile Moreau triggered a boom in French exports by keeping the value of the franc low. Prickly Hjalmar Schacht saved Germany from postwar hyperinflation. Following World War I, the four men who ran the central banks of France, Britain, Germany, and the U.S. Experts charged with setting national and international economic policy are capable of being dead wrong, says author Liaquat Ahamed. ![]()
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