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As the global economy shudders from the disastrous effects of central planning, the International Monetary Fund (IMF) managing director in Washington, DC, Kristalina Georgieva is calling for a \u201cnew Bretton Woods moment.\u201d Georgieva spoke about the juncture on October 15, and she stressed today\u2019s economic hardships are the same as the difficulties the world faced at the end of World War II. Free market advocates on social media and forums believe the IMF managing director\u2019s recent Bretton Woods speech should invoke increased suspicion. <\/strong><\/p>\n On Thursday, October 15, the IMF published a speech<\/a> written by the IMF\u2019s Washington, DC managing director, Kristalina Georgieva called \u201cA New Bretton Woods Moment.\u201d The article has caused sound money and free-market advocates to grow concerned that a big change is coming and possibly a great financial reset. Economists, analysts, and bitcoiners have been discussing the IMF managing director\u2019s speech since it was published on the IMF website on Thursday.<\/p>\n A few days later on October 18, macro strategist Raoul Pal<\/a> said Georgieva\u2019s article alludes to a \u201chuge\u201d change coming to the global financial system.<\/p>\n \u201cIf you don\u2019t think Central Bank Digital Currencies are coming, you are missing the big and important picture,\u201d Raoul Pal tweeted<\/a> on Sunday morning. \u201cThis is going to be the biggest overhaul of the global financial system since Bretton Woods. This IMF article alludes to a huge change coming, but lacks real clarity outside of allowing much more fiscal stimulus via monetary mechanisms. And tomorrow, the IMF holds a conference on digital currencies and cross-border payment systems\u2026\u201d<\/p>\n The Bretton Woods system<\/a> was a huge change in the world\u2019s economic system. The agreement in 1944 established centralized monetary management rules between Australia, Japan, the United States, Canada, and a number of Western European countries. Basically, the world\u2019s economy was in shambles after World War II, so 730 delegates from 44 Allied nations gathered in New Hampshire in a hotel called Bretton Woods. The group was led by the British representative John Maynard Keynes and the U.S. Treasury department official Harry Dexter White. Many historians believe the closed-door Bretton Woods meeting centralized the entire world\u2019s financial system.<\/p>\n On the meeting\u2019s final day, Bretton Woods delegates codified a code of rules for the world\u2019s financial system and invoked the World Bank Group and the IMF. Essentially, because the U.S. controlled more than two-thirds of the world\u2019s gold, the system would rely on gold and the U.S. dollar. However, Richard Nixon shocked the world when he removed the gold part out of the Bretton Woods pact in August 1971.<\/p>\n As soon as the Bretton Woods system was up and running, a number of people criticized the plan<\/a> and said the Bretton Woods meeting and subsequent creations bolstered world inflation. When the IMF and World Bank Group started, a leading editorialist for the New York Times abruptly had to leave his position for writing about the Bretton Woods system\u2019s horrible and negative effects on the global economy.<\/p>\n The editorialist was Henry Hazlitt and his articles like \u201cEnd the IMF<\/a>\u201d were extremely controversial to the status quo. In the editorial, Hazlitt said that he wrote extensively about how the introduction of the IMF had caused massive national currency devaluations. Hazlitt explained the British pound lost a third of its value overnight in 1949. \u201cIn the decade from the end of 1952 to the end of 1962, 43 leading currencies depreciated,\u201d the economist detailed back in 1963. \u201cThe U.S. dollar showed a loss in internal purchasing power of 12 percent, the British pound of 25 percent, the French franc of 30 percent. The currencies of Argentina, Brazil, Chile, and Bolivia lost, respectively, 89, 91, 94, and 99 percent of their purchasing power.\u201d<\/p>\n Kristalina Georgieva\u2019s call for a \u201cNew Bretton Woods Moment\u201d was also discussed in great detail<\/a> on the Reddit forum r\/bitcoin this week. \u201cThe IMF can\u2019t be blind for the consequences the fiat system has and what the downsides are for a currency as the dollar to have the status as a world reserve currency,\u201d explained<\/a> a bitcoiner discussing Georgieva\u2019s recent speech. \u201cThe IMF can\u2019t hide behind the innocent behavior; they don\u2019t know what the implications are of inflation for the working class,\u201d the Bitcoin proponent insisted.<\/p>\n The individual added:<\/p>\n Most of the stuff is so incredibly disturbing you will need some time to digest the implications. Again [there are] no better [examples] of why Bitcoin, being decentralized, hard-limited, uncensored, etc etc, is in all ways a way better system.<\/strong><\/em><\/p>\n<\/blockquote>\n Moreover, the bitcoiners conversing about the Bretton Woods also shared a website that promotes a \u201cgreat reset,<\/a>\u201d alongside a Youtube video<\/a> with the same message. The website called \u201cThe Great Reset\u201d leverages concepts from the lockdown lifestyle that stemmed from the Covid-19 outbreak in order to combat climate change. The subject of addressing climate change is part Kristalina Georgieva\u2019s \u201cthree imperatives\u201d discussed in the \u201cNew Bretton Woods Moment\u201d speech.<\/p>\n Georgieva wholeheartedly believes that the world can \u201csteer toward zero emissions by 2050.\u201d Moreover, an opinion piece<\/a> published on September 23, says in the future society could see \u201ceconomy-wide lockdowns\u201d aimed at halting climate change. Despite the central planner\u2019s and progressive\u2019s wishes, scientists have stated that economic lockdowns will not stop climate change<\/a>.<\/p>\n A number of people believe that the IMF alluding to a new Bretton Woods means the powers that be will introduce a great reset if they haven\u2019t already done so during the Covid-19 pandemic.<\/p>\n \u201cIt\u2019s the change of the economic system of today to one which the 1% elite will 100% control,\u201d an individual on Twitter said<\/a> in response to the Bretton Woods moment. \u201cNo small businesses. Everything automated. The new norm will be digital money, digital socialising, complete public tracking with complete ostracism of people who don\u2019t comply.\u201d<\/p>\n Some individuals believe that Georgieva\u2019s speech also alludes to the probability that the fiat money system is on its last leg. \u201cThe IMF calling for help leads me to believe that the current fiat system is going to be crashing down soon,\u201d noted<\/a> another person discussing the topic.<\/p>\n Additionally, the author of \u201cThe Big Reset,\u201d Willem Middelkoop, also believes that something is bound to happen soon since the IMF published Georgieva\u2019s speech.<\/p>\n \u201cIn 2014, I wrote \u2018The Big Reset,\u2019\u201d Middelkoop tweeted <\/a>to his 42,000 followers. \u201cThe most important part: Chapter 6 \u2013 \u2018The Big Reset.\u2019 New rules have been discussed not only inside the advanced economies, but with all emerging economies, including China. With the status of the U.S. dollar as the international reserve currency being shaky, a new global currency setup is being conceived.\u201d<\/p>\n Middelkoop added:<\/p>\n Two major problems in the world\u2019s financial system have to be addressed: 1) the demise of the U.S. dollar as the world\u2019s reserve currency, and 2) the almost uncontrollable growth in debts and in central banks\u2019 balance sheets. For all of these issues, central banks have only been buying time since the start of the credit crisis in 2007. But given how sensitive this issue is, nothing can be said in public. Any official comments about a new \u2018Plan B\u2019 will crash financial markets (Plan A) immediately. Central planners know the only way to plan a reset is to do it in total secrecy.<\/strong><\/em><\/p>\n<\/blockquote>\n The theories suggest the current move toward a large financial shift<\/a> is what central planners and bankers have planned at least since mid-2019. The United States Federal Reserve has funneled trillions of dollars to trading houses in a shroud of secrecy.<\/p>\n A recent study<\/a> from the financial journalists, Pam Martens and Russ Martens, shows significant financial manipulation. The Martens wrote that the Federal Reserve injected a cumulative $9 trillion to trading houses on Wall Street from September 17, 2019, through March of this year. The Martens also stressed that the Fed claims to be protected by an \u201cexecutive order,\u201d which allows them to keep the stimulus funding secret.<\/p>\n \u201cThe Fed has yet to release one detail about what specific trading houses got the money and how much each got,\u201d the authors revealed.<\/p>\n What do you think about the IMF\u2019s managing director talking about a New Bretton Woods Moment? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n The post The Great Financial Reset: IMF Managing Director Calls for a \u2018New Bretton Woods Moment\u2019<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nIMF Article Alludes to a \u2018Huge Change Coming\u2019<\/h2>\n
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<\/p>\nThe 1944 Bretton Woods System Exposed<\/h2>\n
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<\/p>\nNew Bretton Woods Moment Incredibly Disturbing to Bitcoin Proponents<\/h2>\n
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<\/p>\nThe Great Financial Reset<\/h2>\n
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