The Bretton Woods Agreement
In 1944, a meeting of international banking leaders was held at a resort in Bretton Woods, New Hampshire-the United Nations Monetary and Financial Conference.
This conference resulted in the creation of the International Monetary Fund (IMF) and the World Bank.
While popular perception is that these two agencies were created for the good of the world, they have actually resulted in a lot of harm - foremost of which is the spread of a fiat monetary system throughout the world.
In 1971,when the dollar was severed from gold, the IMF and the World Bank required the rest of the world to separate from the gold standard, as well, or be excluded from their club.
The IMF and World Bank required the world's banks to shift their money to fiat currency, currency not backed by gold and silver, similar to pre-World War II Germany's currency.
In other words, the United States, the IMF, and the World Bank began exporting Germany's type of monetary system, wheelbarrow money, to the world.
To operate as a true world central bank, the IMF needed to be able to issue unlimited amounts of funny money.
On August 15, 1971, President Nixon signed an executive order stating that the United States would no longer redeem the dollar for gold.
In 1971, the U.S. dollar became true Monopoly money for the world.
Today's global crisis spread because the world economy is floating on Monopoly money.
This conference resulted in the creation of the International Monetary Fund (IMF) and the World Bank.
While popular perception is that these two agencies were created for the good of the world, they have actually resulted in a lot of harm - foremost of which is the spread of a fiat monetary system throughout the world.
In 1971,when the dollar was severed from gold, the IMF and the World Bank required the rest of the world to separate from the gold standard, as well, or be excluded from their club.
The IMF and World Bank required the world's banks to shift their money to fiat currency, currency not backed by gold and silver, similar to pre-World War II Germany's currency.
In other words, the United States, the IMF, and the World Bank began exporting Germany's type of monetary system, wheelbarrow money, to the world.
To operate as a true world central bank, the IMF needed to be able to issue unlimited amounts of funny money.
On August 15, 1971, President Nixon signed an executive order stating that the United States would no longer redeem the dollar for gold.
In 1971, the U.S. dollar became true Monopoly money for the world.
Today's global crisis spread because the world economy is floating on Monopoly money.
