George Soros Plans New Bretton Woods Conference

Last week I said that the dispatches were grim coming from Bunkerville. I gave a summary just for that week: U.S. losing control of its finanical system

“While our attention is drawn to other matters, the march toward the merging of a world-wide financial system is almost complete”. Update from Bretton Woods conference in progress Here

Now this is the final kicker.Here is a link to George’s own words. Please read it. here. A New World Architecture written in 2009 will let you know what we are in for and his plan for this very conference this Spring. Included is a “One Currency”  He is an honest man.

“Reorganizing the world order will need to extend beyond the financial system and involve the United Nations, especially membership of the Security Council. That process needs to be initiated by the US, but China and other developing countries ought to participate as equals. They are reluctant members of the Bretton Woods institutions, which are dominated by countries that are no longer dominant. The rising powers must be present at the creation of this new system in order to ensure that they will be active supporters”.

For a list of the attendees: Logistics Monster:

You may experience the same cold shivers I experienced when you check out the advisory board for this particular think-tank including but not limited to a faculty member of the New School for Social Research (remember those folks promoting seizure of your 401(k)?), and one of our favs, Drummond Pike, founder of the Tides Foundation.

The following is a great read about the earlier Conference . Read it if you have the stomach for the whole thing,:

Soros Plans New Bretton Woods Conference

A monetary conference sponsored by the Institute for New Economic Thinking – a nonprofit founded in 2009 with a $50 million pledge from oligarch George Soros – will be held April 8-11 at the Mount Washington Hotel in Bretton Woods.

Bretton Woods is, of course, the location of a monetary conference that was held following World War II. Lew Rockwell explained what went down at that conference:

Keynes’s message at Bretton Woods, [as the great economist Ludwig von Mises summarized it], was that the world elites could turn stones into bread. And so under the influence of Keynes, the target at the Bretton Woods meeting was liberalism itself, which was widely assumed to have failed during the Great Depression. The elites also came out of World War II with a more profound appreciation for the role of central planning. They had reveled in it.

The core problem of the world monetary system after World War II was essentially that the gold standard had broken down, or rather, government had destroyed what remained of the old-fashioned gold standard through relentless inflation, debt, and devaluation. Economists in the Keynesian tradition had encouraged this, viewing money creation as some sort of panacea for all that ailed the world economy.

Keynes, the maestro of the Bretton Woods Conference, had recommended this and celebrated the results. To him, a flexible and standardless currency was the key to macroeconomic manipulation of his beloved aggregates. In a perverse way, he was right about this. A government on the gold standard is seriously constrained. It can’t take a sledgehammer to aggregate supply and aggregate demand. It can’t spend beyond its means. It must pay for the programs it creates through taxation, which means having to curb the appetite for welfare and warfare. There can be no such thing as a Keynesian state on the gold standard, any more then a cocaine addict or compulsive gambler can be on a strict budget.

As was the fashion, world elites assembled to plan some gigantic coordinated solution. They met from July 1 to July 22, 1944, at the Mount Washington Hotel in Bretton Woods, New Hampshire, and drafted the Articles of Agreement. It was nearly a year and a half later, in December 1945, that the agreement was ratified. On March 1947, one of the monstrosities created during event, the International Monetary Fund, began operations.[The World Bank was also created at Bretton Woods-RW]

What was the goal of the plan? It was the same goal as at the founding of the Federal Reserve and the same goal that has guided every monetary plan in modern history. The stated idea was to promote economic growth, encourage macroeconomic stability, and, most absurdly, tame inflation. Of course, it did none of these things. Full story here: Economic Policy Journal