A New Financial World Order is Coming

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Last week the International Monetary Fund published a speech by Managing Director Kristalina Georgieva in which Georgieva called for “A New Bretton Woods Moment.”

The Bretton-Woods agreement was signed on to by 730 delegates from 44 Allied nations in 1944. It set up the world’s post-WWII financial system.

Now it seems the central bankers are taking the next step in their new financial world order formulation.

Federal Reserve Chairman Jerome Powell, in coordination with the European Central Bank and IMF, is preparing to roll out central bank digital currencies.

Stefan Gleason at Activistpost.com writes:

The Fed has unceremoniously thrown its statutory dual mandate of full employment and stable prices out the window. It now gives itself an unlimited mandate to inject stimulus and bailout cash wherever it sees fit…

Instead of pursuing stable prices, the Fed is now explicitly embarking on an inflation-raising campaign with the goal of generating annual price level increases above 2% for an undefined period…

The next frontier of the Fed’s unlimited mandate could be “FedCoin” – a central bank digital currency.

Earlier this month Chairman Powell participated in an IMF panel on international payments and digital currencies. He touted electronic payments systems and raised the possibility of integrating them into a central bank digital currency regime…

Under a central bank digital currency, direct credits and debits could replace stimulus checks and taxes. It would be the vehicle through which modern monetary theory could be fully implemented – with the central bank becoming tax collector and funder of all government operations…

You can read Gleason’s post in its entirety here.

Photo by Gerd Altmann via Pixabay

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