After Facebook shocked policymakers with its plan to launch a digital currency last year, central banks have been forging ahead with discussions on how they could create their own virtual money. Now, they’ve come up with a rough framework for how such a system could work. On Friday Oct. 9th, the Bank for International Settlements and seven…

as a new monetary system emerged? The year was 1971, which would irrevocably alter the course of global economics. As the dust settled on the tumultuous 60s, a new monetary system was taking shape, redefining how nations conducted business and forever changing the global economic landscape. In August of that year, U.S. President Richard Nixon…