Political Theory

Re: Bretton Woods III?

Rubén — Thu, 23 Oct 2008 02:38:29 GMT

These summits, call them Bretton Woods III, Group of 8, European Community + Mercosur, APEC, etc., are increasingly viewed by the world's people as just photo opportunities for presidents and foreign ministers, where they travel in their nice government planes, read a few sentences written by the advisers of their advisers, do some sightseeing and tourism, and then go home.

No wonder few presidents ever get anything done in their own countries anymore. They hiphop across the world signing treaties that sometimes are enforced in a minimum percentage.

These summits are short of irrelevant.

Re: Bretton Woods III?

Andrew — Thu, 23 Oct 2008 01:42:59 GMT

S. African Krugarrand, I think.

Re: Bretton Woods III?

ryanpatgray — Wed, 22 Oct 2008 23:09:04 GMT

"The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system. "

Just wondering, are there any currencies that are still pegged to gold?

Re: Bretton Woods III?

ryanpatgray — Mon, 20 Oct 2008 22:55:02 GMT

I am not emotionally attached to the U.S. Dollar. To me it is just a bunch of small, green pieces of paper (on the whole, it wasn’t the small, green pieces of paper which were unhappy.) But I would very much appreciate it if whatever currency we happen to use is backed by some precious metal whether it be gold, silver or platinum. I would even prefer to that a free market in the field of currencies but I honestly do not see that happening any time soon. I do understand the concern with the Amero however, the devil we do not know may be even worse. And the recent historical trend has been toward less freedom.

Re: Bretton Woods III?

Nitroadict — Mon, 20 Oct 2008 22:32:46 GMT

ryanpatgray:

Thanks for the link. This is even worse than I thought. They must be "suspending the markets" for a reason. Perhaps if they did not the markets would tank and the smart CEOs would move their companies to some small third world nation that does not participate in this system. Who knows, maybe Tonga or something will be the next Hong Kong with companies worldwide moving their headquarters there.

When I was an ardent RP supporter, I believed the Amero was an inevitability.

I eventually ceased my reactionary alarmism with regard to such an idea, but recently I'm beginning to suspect it wasn't far off at all, and that maybe as soon as Feb 2009 (or whenever Paulson de-monetizes the dollar, which looks like a good possibility as well), we could start seeing some legitmate materializations of such a replacement currency.

I would like to hope I'm wrong though; I would really appreciate if the statists didn't make me instantly poor before I get to NH in the next 6 months - 2 or 3 years. I suppose worse comes to worse I could take a Greyhound...hopefully it doesn't come to that

I just wish I knew for sure so i could give a heads up everyone I know on what pre-cautionary measures to take, like possibly converting a good amount of their dollars into a foreign currency, etc.

Re: Bretton Woods III?

ryanpatgray — Mon, 20 Oct 2008 22:21:29 GMT

Thanks for the link. This is even worse than I thought. They must be "suspending the markets" for a reason. Perhaps if they did not the markets would tank and the smart CEOs would move their companies to some small third world nation that does not participate in this system. Who knows, maybe Tonga or something will be the next Hong Kong with companies worldwide moving their headquarters there.

Re: Bretton Woods III?

Nitroadict — Mon, 20 Oct 2008 21:57:53 GMT

ryanpatgray:

Hi, I heard on the news some chatter that some of our “Dear Leaders” are discussing the possibility of a Bretton Woods III. Has anyone else heard this? Do you have more information about this? Should we bellyfeel this new Bretton Woods conference?

They are discussing (as the 10th Oct. 2008) of closing the world markets to re-write the rules of global finance:

[from: http://www.informationclearinghouse.info/article20989.htm ]

Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

...

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.

Sigh, the answer is a definite yes.

Bretton Woods III?

ryanpatgray — Mon, 20 Oct 2008 21:51:04 GMT

Hi, I heard on the news some chatter that some of our “Dear Leaders” are discussing the possibility of a Bretton Woods III. Has anyone else heard this? Do you have more information about this? Should we bellyfeel this new Bretton Woods conference?