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Pour fonctionner, les États-Unis auraient dû faire des sacrifices et faire preuve de davantage de coopération, ce qu'ils ont toujours refusé de faire. En l'occurrence, la réserve fédérale américaine a refusé de remonter leurs taux d'intérêt lorsque leur balance commerciale devenait déficitaire, par peur de sacrifier la croissance au profit de la défense du système monétaire international. De même que l'Angleterre et la France par exemple, ont arboré une posture particulièrement concurrentielle à l'égard des États-Unis

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