 So, next is collapse of Bretton Wood system. So, what we discussed is that, in the U.S., the issue was balance of payment and capital flight at that time. This was a reason for you to collapse the Bretton Wood system. Before that, in 1971, especially, to save this system, some efforts were made and the most significant was that countries themselves said that the US balance of payment issue is quite rare for that reasons, it was found in 10 countries in Washington. And they agreed that they devalue the dollar according to the 9 percent. That is, the 35 dollars per ounce gold price was fixed. That was increased from 35 dollars to 38 dollars. And, band of fluctuation, which was just 1 percent at some time, now it has been increased in a better way. That was 2.25 percent on the new central rates. Now, this was the time when Nixon, President Nixon had said a very historical agreement. And, Nixon had promised that we will not devalue dollar in future or we will sustain this rate over a long period of time and all of our problems are solved by just simple this agreement. But, this did not happen. Ultimately, at that time, because all the things had been linked, with gold and dollar, one thing could have been taken, but there, the reserves had issues and the dollar was not very much comfortable in the position, the dollar was not in a comfortable position. And then, it had an inconvertible in terms of gold. So, at that time, the next year, when so many promises were being made, exactly next year, US faced the worst deficit. That was, once again, 9 billion deficit you had. And, once again, a zeroed-up came, that the US currency should be devalued. This time, it was around 10 percent. So, this was a time when things were slipping in the hands of the US. Then, here, in the European Common Market, a term was used. At that time, the European Snake had said, that we float our currencies. Jointly float, again, against dollar. And, in this case, we will operate independently. So, there, you have this floating rate system, floating exchange rate system. From here, suppose, your system was built and applied from here. Remember, this thing was not acceptable for the whole world. And, it did not happen. Basically, in some form, a dollar gold-back system was required. But, this floating exchange rate had to be adopted for the whole world. At the same time, the problem was that the fundamental cause of collapse was balance of payment. But, along with that, what we were discussing at the start, the basic properties of monetary systems, in which we were talking about adjustment, were not able to happen at that time. There, we were talking about devaluations. There, we were talking about liquidity issues. And then, the most important thing was that, the confidence of the US dollar was very low. So, there, your Bretton Wood system was completely collapsed.