While the currency values of today’s economic powerhouses help maintain global financial stability, the currency systems in the 19th century were tied to precious metals and France played the stabilizing role. In the early 1800s, most countries tied their currencies to silver or gold, but Napoleon tied the French franc to both, which sparked the era of global bimetallism. IMF economist Johannes Wiegand has studied bimetallism, and in this podcast, he says this almost-forgotten 19th-century episode shows that international cooperation is essential for a stable global monetary system. Transcript
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International Monetary Fund
Bruce Edwards produces the IMF podcast program. He's an award-winning audio producer and journalist who's covered armed conflicts, social unrest, and natural disasters from all corners of the world. He believes economists have an important role in solving the world's problems and aspires to showcase their research in every IMF podcast.
Rhoda Metcalfe is an independent journalist and audio producer. Her reporting on the armed conflict in Colombia in the late 90s, as well as her work in Egypt, Turkey and South Africa has won several awards. She now produces podcasts and radio features from Washington DC and is a regular contributor to the IMF Podcast program.