During the roughly quarter-century that the Bretton Woods system was in place, banking crises were almost nonexistent. Recessions were rare. And global debt fell from nearly 150% of GDP at the end of World War II, to roughly 30% by the early 1970s.
Then it all came to a screeching halt in 1971.
https://www.zerohedge.com/news/2019-07-16/insanity-now-even-junk-bonds-have-negative-yields
