The economic illiterates at the IMF are back at with another nonsensical idea…
A New Bretton Woods Moment
The IMF has a new goal: a ‘Sisterhood and Brotherhood of Humanity’ to save the world.
At the conclusion of the conference John Maynard Keynes captured the significance of international cooperation as hope for the world. “If we can continue…The brotherhood of man will have become more than a phrase”, he said.
The work of the IMF is testament to the values of cooperation and solidarity on which a sisterhood and brotherhood of humanity is built.
Key Ideas of IMF Managing Director
Today we face a new Bretton Woods “moment. ”We should move towards greater debt transparency and enhanced creditor coordination.
And policies must be for people —my second imperative.
Rising inequality and rapid technological change demand strong education and training systems—to increase opportunity and reduce disparities.
Accelerating gender equality can be a global game-changer. For the most unequal countries, closing the gender gap could increase GDP by an average of 35 percent.
We can no longer afford to ignore climate change—my third imperative.
Our research shows that, with the right mix of green investment and higher carbon prices, we can steer toward zero emissions by 2050 and help create millions of new jobs.
The current strategies have done nothing but promote wage and income inequality.
The middle class is shrinking and housing is less and less affordable despite interest rates manipulated lower.
These trends accelerated with Nixon ended convertibility of the dollar.
We do not need another “Bretton Woods”. Nor do we need a useless “I favor mom, apple pie, global peace, and sisterhood equality” speech.
We need sound monetary ideas, free trade, the end of fiat currencies, and an end fraudulent fractional reserve lending.