The Triffin Dilemma and international policy debates over dollar liquidity (1959–1971)

1. Triffin frames the dollar-liquidity problem

   May 1, 1960Labels: Robert Triffin

   • Econ Journal
   • Open Library

2. London gold price pressures expose convertibility strain

   Oct 1, 1960Labels: London gold

   • Triffin Dilemma

3. Central banks create the London Gold Pool

   Nov 1, 1961Labels: London Gold

   • Gold Pool
   • WGC

4. IMF announces the General Arrangements to Borrow

   Jan 8, 1962Labels: IMF GAB

   • FRUS
   • IMF GAB

5. U.S. enacts Interest Equalization Tax to curb outflows

   Jul 1, 1963Labels: Interest Equalization

   • IET
   • FRUS

6. France publicly calls for return toward gold standard

   Feb 4, 1965Labels: Charles de

   • FRUS
   • TIME

7. France suspends participation in the Gold Pool

   Jun 11, 1967Labels: France

   • Cambridge
   • Gold Pool

8. Gold Pool collapses amid March 1968 crisis

   Mar 1, 1968Labels: Gold Pool

   • Gold Pool
   • LBMA

9. Two-tier gold system agreed after Gold Pool failure

   Mar 17, 1968Labels: Two-tier gold

   • Britannica
   • WGC

10. IMF’s First Amendment takes effect, enabling SDRs

    Jul 28, 1969Labels: IMF Amendment

    • IMF Survey
    • Cambridge AJIL

11. IMF approves plan to create Special Drawing Rights

    Sep 29, 1969Labels: Special Drawing

    • IMF SDR
    • IMF Survey

12. First SDR allocations begin

    Jan 1, 1970Labels: SDR allocations

    • IMF SDR
    • IMF Survey

13. U.S. suspends dollar convertibility into gold

    Aug 15, 1971Labels: Gold window

    • IMF Survey
    • TIME

14. Smithsonian Agreement realigns currencies after the shock

    Dec 18, 1971Labels: Smithsonian Agreement

    • IMF Survey
    • FRASER