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Editor’s note: This is an excerpt of Planet Money’s newsletter. You can sign up here.
In 1944, almost exactly 75 years ago, more than 700 representatives from 44 nations traveled to the Mount Washington Hotel, a secluded resort in the mountains of Bretton Woods, N.H. With World War II coming to an end, they arrived to hammer out a new financial system for the global economy.
Last week former U.S. Treasury secretaries, central bankers, economists and other nerds traveled to it for a conference that took stock of their legacy — the so-called “Bretton Woods” system — and debated its future. We went too.
The Mount Washington hotel is old school, with ornate chandeliers and a moose head hanging in the lobby. Classical music reminds you it’s classy. There are awesome mountain views and a musty, sort of wet-carpet smell. It was grand and luxurious, but it also felt like it was straight out of The Shining.
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