As the global economy shudders from the disastrous effects of central planning, the International Monetary Fund (IMF) managing director in Washington, DC, Kristalina Georgieva is calling for a “new Bretton Woods moment.” Georgieva spoke about the juncture on October 15, and she stressed today’s economic hardships are the same as the difficulties the world faced at the end of World War II. Free market advocates on social media and forums believe the IMF managing director’s recent Bretton Woods speech should invoke increased suspicion.
IMF Article Alludes to a ‘Huge Change Coming’
On Thursday, October 15, the IMF published a speech written by the IMF’s Washington, DC managing director, Kristalina Georgieva called “A New Bretton Woods Moment.” The article has caused sound money and free-market advocates to grow concerned that a big change is coming and possibly a great financial reset. Economists, analysts, and bitcoiners have been discussing the IMF managing director’s speech since it was published on the IMF website on Thursday.
A few days later on October 18, macro strategist Raoul Pal said Georgieva’s article alludes to a “huge” change coming to the global financial system.
“If you don’t think Central Bank Digital Currencies are coming, you are missing the big and important picture,” Raoul Pal tweeted on Sunday morning. “This is going to be the biggest overhaul of the global financial system since Bretton Woods. This IMF article alludes to a huge change coming, but lacks real clarity outside of allowing much more fiscal stimulus via monetary mechanisms. And tomorrow, the IMF holds a conference on digital currencies and cross-border payment systems…”
The 1944 Bretton Woods System Exposed
The Bretton Woods system was a huge change in the world’s economic system. The agreement in 1944 established centralized monetary management rules between Australia, Japan, the United States, Canada, and a…