The Berttom Woods agreement was put together in 1945 after the Second World War and gold was fixed at $35 USA so that Europe could be rebuilt. The USA had about 80% of the gold so they back there curreny with that . It was in 1971 that the British ask to be repaid in gold for a debt that was some 3 Billion US dollars and Nixon had the choice to let the gold peg go and the market set the price or take the backing from there currency. He took backing away and thereby started the FAIT money system which is today collapsing as this system has been tried since Roman times and has always failed because of debt. For a new Berttom woods agreement to be in place Europe would have to lower there debt level or make the price of gold some were around US $65 000 an oz not possible,lowering there debt level would take then into a depression straight away which would take about 10 years to finish i am not sure they wont that but what else can they do.
