1. Consider why the Bretton Woods system International Monetary Fund (IMF) was established and how the system was meant to work. What problems was this system meant to resolve? And how would it resolve them? 2. Review the age of multilateralism, reflected in the post-World War II creation of institutions, agreements, and informal understandings that sought to promote global peace and prevent the occurrence of another Great Depression. An important subtext of the case is why and how structured interdependence among nations can help to achieve such aims. 3. Confront the instability latent in the Bretton Woods system, as summarized in the Triffin dilemma and the impossible trilemma. 4. Review the fall of the Bretton Woods system, taking into account the indicators of financial stress and the dynamics of the unfolding crisis. Nixon's New Economic Policy, announced on August 15, 1971, effectively doomed the gold reserve standard and forced radical change upon the IMF and the Bretton Woods system.