What were the objectives of Bretten woods system?

Objectives of Bretten woods system –

ADVANTAGES AND DISADVANTAGES OF GOLD STANDARD
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• When the monetary and financial conference of the United Nations, held in Bretten woods, began, the world was facing the political and economic consequences of two world wars. For a long time, the currencies of the industrialized countries were no longer coupled to the value of gold, and they had financed two wars by issuing currency and with high inflation rates.
• “That eventually led to a devaluation run, a kind of monetary war,” says Jürgen Matthes of the German Institute of Economics (IW). Everyone wanted to sell their cheap products and cut themselves off from others, which caused the world trade to collapse.
• The world needed a new economic and commercial order, and there were two concepts under discussion. One came from the British economist John Maynard Keynes, whose idea was “not to leave alone the Americans the responsibility and the power to configure a monetary system”, says Dominik Geppert, historian of the University of Bonn.