How the International Monetary Fund, the world's economic firefighter, works for global monetary cooperation and prosperity while using its own made-up currency, the SDR.Topics covered include:What was the Bretton Woods monetary system that led to the formation of the IMF and the World BankHow the World Bank and IMF differWhat does the IMF doHow the IMF creates its own money out of thin airWhy does Argentina, the IMF's largest borrower, keep defaulting on its debt obligation including those to the IMFWhy the IMFs negotiating tactics are controversialFor more information on this episode click here.SponsorsAura, the new standard in digital safety PolicygeniusShow NotesCreation of the Bretton Woods System, July 1944—Federal Reserve HistoryThe World BankInternational Monetary FundSterling devalued and the IMF loan—Cabinet Papers, The National ArchiveTotal IMF Credit Outstanding, Movement From November 01, 2022 to November 07, 2022—IMFWhy you can’t technically default on the IMF by Izabella Kaminska—Financial TimesImplications of the IMF's SDR Allocation for Australia and the Global Economy by Ben Hollebon and Kate Hickie—Reserve Bank of AustraliaThe IMF cannot solve Argentina’s dysfunction—The EconomistIMF Executive Board Completes Second Review of the Extended Arrangement Under the Extended Fund Facility for Argentina—IMFThe IMF: The World’s Controversial Financial Firefighter—by Jonathan Masters, Andrew Chatzky, and Anshu Siripurapu—Council on Foreign RelationsRelated Episodes233: Is An Emerging Markets Crisis Imminent?322: Why Currency Exchange Rates Matter?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.