abondance de dollars

CONT: Dans un premier temps, 1945-1960, le dollar fut rare (dollar gap) et ne fut donc pas contesté. Dans un second temps à partir des années 60, le déficit de la balance des paiements américaine créa une abondance de dollars qui justifia des demandes de conversion en or.

OBS: This situation occurred in the late 1950s and prevailed through the 1960s into the mid-1970s, beginning at first with large-scale foreign aid programs following World War II, continuing with heavy military spending abroad, and climaxing with greatly increased direct investments abroad ... As a result, the dollar was overvalued in relation to other currencies-that is, there was an oversupply of dollars and a shortage of foreign currencies-and consequently had to be devalued (as it was in 1971 and 1973).