Recently at the Australian National University, there were students who campaigned for LaRouche's new system. They handed out brochures and went around explaining about LaRouche's proposal which some labelled as the new Bretton Woods system.
For those interested to know more about LaRouche and his ideas, visit this website http://larouchepac.com/ .
The Bretton Woods system is a system that follows closely the model of a gold standard. Members of the agreement were required to keep the market exchange rate within 1% of parity conditions.
The United States dollars at that time had the highest Purchasing Power and thus, the USD was used as the reference point.
Today, financiers know that parity conditions are just theoretical. Take a read on LaRouche's idea. I welcome any comments or tutoring from all financiers and economists.