The below recently declassified transcript of an internal meeting between Kissinger and his advisers shows an alarming degree of incompetence from all sides. Remember, this was during a period of great economic turmoil, after the Nixon Shock, and the infancy of the modern Forex market as we know it.
There are those who believe in conspiracy theories, that Kissinger with international advisers spent the weekend with Nixon plotting to default on the Gold obligations thus creating the floating currency system, in order to implement a one world currency decades later. What this transcript indicates, if not proves, is that there is no conspiracy, and the people who created the modern Forex market have no clue what they are doing, and had no model or even a plan for that matter, when they created the Forex market.