As the global economy shakes itself from the disastrous effects of central planning, the Managing Director of the International Monetary Fund (IMF) in Washington, DC, Kristalina Georgieva, calls for a “new Bretton Woods moment.” Georgieva spoke about the situation on October 15, stressing that today’s economic hardships are the same as the hardships the world faced at the end of World War II. Free market advocates on social media and forums say the IMF Managing Director’s recent speech at Bretton Woods should raise further suspicion.
IMF article hints at ‘huge changes imminent’
Thursday, October 15, IMF published a speech written by the Managing Director of the IMF in Washington, DC, Kristalina Georgieva, titled “A new Bretton Woods moment“. The article caused the defenders of healthy currency and the free market worry that a big change is coming and maybe a big financial recovery. Economists, analysts and bitcoiners discussed the speech of the Managing Director of the IMF since its publication on the site IMF website Thursday.
Days later, on October 18, macroeconomic strategist Raoul Pal said Georgieva’s article hinted at an impending “huge” change in the global financial system.
“If you don’t think central bank digital currencies are yet to come, you’re missing out on the big picture and important,” Raoul Pal. tweeted Sunday morning.
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“This will be the biggest reform of the global financial system since Bretton Woods. This IMF article hints at a big change to come, but it lacks real clarity outside of allowing much more fiscal stimulus through monetary mechanisms. And tomorrow, the IMF is organiz ing a conference on digital currencies and cross-border payment systems… “
1944 Bretton Woods system discovered
The Bretton Woods sistemas it was a big change in the world economic system. The 1944 agreement established rules for centralized monetary management between Australia, Japan, the United States, Canada and several countries in Western Europe. Basically, the world economy was in shambles after WWII, so 730 delegates from 44 allied countries gathered in New Hampshire at a hotel called Bretton Woods. The group was led by UK Representative John Maynard Keynes and US Department of the Treasury official Harry Dexter White. Many historians believe that the closed-door Bretton Woods meeting centralized the entire global financial system.
On the last day of the meeting, Bretton Woods delegates codified a code of rules for the global financial system and invoked the World Bank Group and the IMF. Essentially, because the United States controlled over two-thirds of the world’s gold, the system would depend on gold and the US dollar. However, Richard Nixon shocked the world by eliminating the gold part of the Bretton Woods Pact in August 1971.
As soon as the Bretton Woods system was operational, several people criticized the plan, claiming that the Bretton Woods meeting and subsequent creations had supported global inflation. When the IMF and the World Bank Group started, a leading New York Times columnist had to quit his post abruptly to write about the horrific and negative effects of the Bretton Woods system on the world economy.
The editor was Henry Hazlitt and his articles such as “End the IMF“They were extremely controversial for the status quo. In the editorial, Hazlitt said he has written extensively on how the introduction of the IMF led to massive devaluations of the national currency. Hazlitt explained that the British pound had lost a third of its value overnight in 1949. “In the decade from the end of 1952 to the end of 1962, 43 major currencies depreciated”, detailed the economist in 1963. “The dollar The United States posted a loss of domestic purchasing power of 12%, the British pound 25% and the French franc 30%. The currencies of Argentina, Brazil, Chile and Bolivia lost respectively 89, 91, 94 and 99 percent of their purchasing power ”.
Incredibly disturbing new moment in Bretton Woods for Bitcoin advocates
Kristalina Georgieva’s call for a “new Bretton Woods moment” was also discussed in detail on the Reddit r / bitcoin forum this week. “The IMF cannot be blind to the consequences of the fiduciary system and what are the drawbacks of a currency like the dollar having the status of world reserve currency”, Explain
a bitcoiner discussing Georgieva’s recent speech. “The IMF cannot hide behind innocent behavior; they don’t know what the implications of inflation are for the working class, ”insisted the Bitcoin promoter.
The individual added:
Most things are so incredibly disturbing that it will take you some time to digest the implications. Once again [there are] It is not better [examples] why Bitcoin, being decentralized, limited, uncensored, etc., is in every way a better system.
Additionally, bitcoiners who discussed Bretton Woods also shared a website promoting a ‘The big reset” Near Youtube video with the same message. The website called “The big resetUses the lockdown lifestyle concepts that emerged from the Covid-19 outbreak to fight climate change. The issue of the fight against climate change is one of Kristalina Georgieva’s “three imperatives” discussed in the “New Bretton Woods Moment” speech.
https://www.youtube.com/watch?v=HeMsaN6xjAQ
The big financial reset
Several people believe the IMF’s hinting at a new Bretton Woods means the powers that be will introduce a big reset if they haven’t already done so during the Covid-19 pandemic.
“This is the shift from the current economic system to one that the 1% elite will control 100%,” one individual said on Twitter. he said in response to the Bretton Woods moment. “There are no small businesses. Everything is automated. The new normal will be digital money, digital socialization, complete public oversight with total ostracism of non-compliant people.
It is the change of today’s economic system into one that the 1% elite will control 100%. No small businesses! Everything is automated! The new normal will be digital money, digital socialization, full public monitoring with complete ostracism of people who do not comply!
– entertain (@entertheroach) October 18, 2020
Some people believe Georgieva’s speech also hints at the likelihood that the fiat money system is on its last mile. “The IMF’s call for help leads me to believe that the current fiduciary system will soon collapse.” Celebrate another person who is discussing the problem.
Looks like DXY wants to reject the trendline, gold should rise. The IMF’s appeal for help leads me to believe that the current fiduciary system will soon collapse. https://t.co/yfagm8C7Gf
– Fifth wave (@kyle_sand) October 18, 2020
In addition, the author of “The big reboot”, Willem Middelkoop, also believes that something will happen soon since the IMF released Georgieva’s speech.
“In 2014, I wrote ‘The Big Reset’,” Middelkoop tweeted to her 42,000 followers. “The Most Important Part: Chapter 6 -” The Big Reboot “. New rules have been discussed not only in advanced economies, but with all emerging economies, including China. With the status of the US dollar as an unstable international reserve currency, a new configuration of the world currency is envisioned.
In 2014, I wrote The Big Reset.
The Most Important Part: Chapter 6 – The Big Reset
A Sunday thread – inspired by the IMF – calling for a ‘new Bretton Woods moment’ https://t.co/oVBMlMW1lA or free download https://t.co/9ylP1JKKzP
– Willem Middelkoop (@wmiddelkoop) October 18, 2020
Middelkoop aggregated:
Two major problems in the global financial system need to be addressed: 1) the disappearance of the US dollar as the world’s reserve currency and 2) the almost uncontrollable growth in central bank debt and balance sheets. For all these issues, central banks have been buying time since the credit crunch started in 2007. But given the sensitivity of this issue, nothing can be said in public. Any official comment on a new “Plan B” will immediately crash the financial markets (Plan A). Central planners know that the only way to plan a reboot is to do it in complete secrecy.
Theories suggest that the current trend towards big financial changes is what central planners and bankers have been predicting since at least mid-2019. The US Federal Reserve has funneled billions of dollars to business houses in a cover of secrecy.
“The Fed has yet to release a breakdown of the specific trading houses that received the money and how much each received,” the authors revealed.
What do you think of the IMF Managing Director who talks about a new moment at Bretton Woods? Let us know what you think of this topic in the comments section below.
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