When billionaire George Soros wrote two years ago that what the world needed now was “a new world architecture,” he was already laying plans for Bretton Woods II, April 8-11, 2011, to be held at the Mount Washington Hotel in Bretton Woods, New Hampshire (pictured, left).
While international cooperation on regulatory reform is difficult to achieve on a piecemeal basis, it may be attainable in a grand bargain that rearranges the entire financial order.
A new Bretton Woods conference, like the one that established the international financial architecture after World War II, is needed to establish new international rules…reconstitute the International Monetary Fund (IMF)…[and] to reform the currency system…
Claiming that the international monetary system “cannot survive in its present form,” Soros argues that it could and should be revamped so that American leadership would be “re-established…in a more acceptable form. ”
In the formal announcement of the meeting, sponsored and funded to the tune of some $50 million by Soros’ Institute for New Economic Thinking (INET), the stated purpose of bringing together “more than 200 academic, business and government policy leaders” is to move beyond the original Bretton Woods conference agreements in 1944 which established the IMF, the World Bank, and the United Nations and to “engage the larger European Union, as well as the emerging economies of Eastern Europe, Latin America, and Asia. ”
Such a meeting should surprise no one watching the current scene. Soros has made clear his economic and political philosophy, writing back in 1997 that “the main enemy of the open society, I believe, is no longer the communist but the capitalist threat. ” Writing for the Atlantic, Soros explained his position as an economic and political progressive:
Insofar as there is a dominant belief in our society today, it is a belief in the magic of the marketplace. The doctrine of Laissez-faire capitalism holds that the common good is best served by uninhibited pursuit of self-interest. [However] unless it is tempered by the recognition of a common interest that ought to take precedence over particular interests, our present system…is liable to break down [Emphasis added.].
Read the entire article: Funding of Bretton Woods II by George Soros Exposed.