Sunday, November 7, 2010

Bretton Woods Three

The President of The World Bank, Robert Zoellick, has called for a new Bretton Woods agreement, and has specified a five point plan for world financial markets in an article which he wrote for The Financial Times on November 7th.

World Banl President Robert Zoellick
First, a bi-lateral financial agreement between The US and China. China would agree to implement a new five year plan centered on domestic business and service industries, while shifting its attention and financing of export oriented industries to internal consumption and social services. It would also allow the appreciation of the renminbi, or yuan to strengthen appreciable against the dollar and other world currencies to balance disparities in world trade and current account surpluses.
For its part, the United States will address out of control spending and budget deficits, while pursuing increased competitiveness and free trade.
Second, other major economies must cease currency intervention to either strengthen their currency or weaken it to gain a trade advantage for exports. These major economies, meaning the G-7, should boost confidence by “committing to structural growth plans as well”.
Third, measures one and two would assist emerging economies to adjust to inequalities in economic recoveries with “flexible exchange rates” and “independent monetary policies”. The G-20 could develop guidelines to assist emerging economies.
Fourth, the G-20 would support the World Bank Group and regional development banks to develop agriculture, infrastructure, and healthy, skilled labor forces within the developing world and provide the guidance for “building poles of future growth based on private sector development”.
Fifth, the G-20 should develop a “cooperative monetary system that reflects emerging economic conditions”. The “new system’ should include the dollar, euro, yen, pound, and renminbi, that moves toward “internationalization” and an “open capital account”.
This new system should consider employing gold as an “international reference point”, as markets are using gold as a monetary asset today. It will take time but “we need to begin”. This new system would include IMF rule changes to review capital and current account policies; connect IMF monetary assessments with WTO obligations, and prohibit the use currency policies to remove trade concessions.
Let SHTF America translate the buzz words for you:
First, China must play ball with the world financial community. It has taken advantage of the world’s generosity long enough and now it’s time to accept fair trade in lieu of free trade and strengthen its currency or allow it to adjust through market mechanisms.

The USA for its part must continue to decline the value of its dollar by inflation to achieve "increased competitiveness" and lower real wages and purchasing power for its consumers, while leaving its markets open for "free trade" rather than insisting upon fair trade with its trading partners. 
Second, currency manipulators like Japan who intervene in the currency markets to deliberately devalue their currency to increase their exports, must cease and desist. Debtor nations like Portugal, Ireland, and Greece must reduce government spending and get their budgets under control.
Third, Eastern Europe and other emerging economies may get special treatment until their economies are stabilized.
Fourth, the G-20 would provide additional funding to the World Bank to lend to emerging countries and extend the reach of the New World Order.
Fifth, the “new system of co-operation” would subjugate all national central banks to the World Bank: One World Banking dictating financial policy for individual countries; including America. Gold and other precious metals would become the basis for the “capital account” of a nation on deposit with the World Bank.
These proposed changes to the world financial system offered by the World Bank President, represent a radical departure from the current global financial structure and a dangerous step toward control of the world financial system by Central Bankster Gangsters. If this plan is implemented and adopted by the US government, Americans would never again control their financial destiny.

This proposal was predicted by SHTF America months ago. For further reading about the New World Order plan for world domination follow the link on the upper right to SHTF America, Economics Page, or: .  

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