The Bretton Woods system is a multilateral economic system with foreign exchange liberalization, capital liberalization and trade liberalization as the main contents, which constitutes the core content of capitalist groups and is a system to realize American economic hegemony according to the principles formulated by the United States. The agreement of the International Monetary Fund decided to establish the International Bank for Reconstruction and Development (World Bank) and the International Monetary Fund, as well as a global trade organization. The Bretton Woods system is based on gold, and the US dollar is the main international reserve currency. The dollar is directly linked to gold, the currencies of all countries are linked to the dollar, and gold can be exchanged with the United States at the official price of $35 per ounce. Under the Bretton Woods system, the convertibility of the US dollar against gold and the adjustable pegged exchange rate system are the two pillars of this monetary system, and the International Monetary Fund is the central institution to maintain the normal operation of this system, with three functions: monitoring the international exchange rate, providing international credit and coordinating international monetary relations. Therefore, the Bretton Woods system is actually an international gold exchange system.