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Bretton Woods Uncovered (A Scoop, Of Sorts)


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http://blogs.telegraph.co.uk/finance/jeremywarner/100015182/bretton-woods-uncovered-a-scoop-of-sorts/

Students of economic history are in for a treat. An official studying deep in the bowels of the US Treasury library has recently uncovered a prize of truly startling proportions – an 800 page plus transcript of the Bretton Woods conference in July 1944, the meeting of nations which established the foundations of today's international monetary system.

Bizarrely, this extraordiary manuscript has never before come to light. Professor Steve Hanke of John Hopkins University, whose former student it was who discovered the document, is now dashing to publish it in full in conjunction with his friend, Jacque de Larosiere. The first stage of the process, transcribing the type-written document into digital form is now complete, though it is not yet available. It's hoped eventually to produce a hard copy, book version.

All previous accounts of Bretton Woods have been second hand, with historians apparently completely unaware that a full, and one must presume faithful, transcript of proceedings, had been taken.

It would be an interesting transcript to look at.

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From the Comments:

An 1865 London Times

editorial directed against Lincoln's debt-free Greenbacks said it

all:

If that mischievous financial policy which had its origin in the North American Republic during the

late war in that country, should become indurated down to a fixture, then that

Government will furnish its own money without cost. It will pay off its debts

and be without debt. It will become prosperous beyond precedent in the history

of the civilized governments of the world. The brains and wealth of all

countries will go to North America. That government must be destroyed or it will

destroy every monarchy on the globe.

The monetary system has always been run for the benefit of a small elite.

Yet governments could just as easily have begun to issue money debt free, interest free.

They would rather have us in slavery and pretend its a democracy.

I wonder if any light will be shed on Harry Dexter White's role as a soviet sympathiser/spy.

Edited by Milton
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From the Comments:

The monetary system has always been run for the benefit of a small elite.

Yet governments could just as easily have begun to issue money debt free, interest free.

They would rather have us in slavery and pretend its a democracy.

I wonder if any light will be shed on Harry Dexter White's role as a soviet sympathiser/spy.

Interesting comment post from Bastards OH's blog today;

Strangely enough thanks to the Internet we are all beginning to see the real reasons for WW2

Hitler inherited a nation of starving disposed people and a country deep in debt owing billions in repatriations....so what did he do?

He bypassed the banks and created his own currency called "Labour Treasury Certificates", measured not against gold, but against units of labour.

He allowed the banks to print deutchemarks, but the people traded in Labour Treasury certificates, valuable in Germany but valueless elsewhere!

Here is how some see it

In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:

“Germany issued debt-free and interest-free money from 1935 on, which accounts for Germany’s startling rise from the depression to a world power in five years. The German government financed its entire operations from 1935 to 1945 without gold, and without debt. It took the entire Capitalist and Communist world to destroy the German revolution, and bring Europe back under the heel of the Bankers.”

Here is how Churchill saw it,

"Germany's unforgivable crime before WW2 was its attempt to loosen its economy out of the world trade system and to build up an independent exchange system from which the world-finance couldn't profit anymore. .. (The Second World War - Bern, 1960)

“Hitler took over the privilege of manufacturing money, and not only physical moneys, but also financial ones. He took over the machinery of falsification and put it to work for the benefit of the people. Can you possibly imagine what would have come if this had infected a number of other states?” C. G. Rakovsky,

Probably why the Libertarian party (for who debt free money advocate Bill Still is standing) have had republican candidate gary Johnson along with a large amount of funding foisted upon them. Obviously Still or the libertarian party for that matter wont win, but could, like UKIP here, be a thorn in the side of the globalists.

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Interesting comment post from Bastards OH's blog today;

Interesting because a supposed (?) libertarian is waxing lyrical about a fascist despot?

It wasn't Hitler who masterminded Germany's recovery it was this bloke...

220px-Bundesarchiv_Bild_102-12733,_Hjalmar_Schacht.jpg

Hjalmar Schacht

He resigned from Hitler's government before the war started, ended the war in a concentration camp and was tried at Nuremberg

Edited by Nuggets Mahoney
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Interesting because a supposed (?) libertarian is waxing lyrical about a fascist despot?

It wasn't Hitler who masterminded Germany's recovery it was this bloke...

220px-Bundesarchiv_Bild_102-12733,_Hjalmar_Schacht.jpg

Hjalmar Schacht

He resigned from Hitler's government before the war started, ended the war in a concentration camp and was tried at Nuremberg

Tried for what? Crimes against the bankers?

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Tried for what? Crimes against the bankers?

Helping Germany get to a state where it could wage war again. He was actually acquitted at Nuremberg. A rare achievement

The reason why I mention him is because he was the man who implemented the banker-unfriendly policies. Yet he resigned from Hitler's government and was later locked up for his resistance to Hitler. I'm guessing that he wasn't anti-Hitler because Hitler authorised the monetary reforms that he dreamed up

Edited by Nuggets Mahoney
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Interesting comment post from Bastards OH's blog today;

Strangely enough thanks to the Internet we are all beginning to see the real reasons for WW2

Hitler inherited a nation of starving disposed people and a country deep in debt owing billions in repatriations....so what did he do?

He bypassed the banks and created his own currency called "Labour Treasury Certificates", measured not against gold, but against units of labour.

He allowed the banks to print deutchemarks, but the people traded in Labour Treasury certificates, valuable in Germany but valueless elsewhere!

The reason for WW2 was Hitler's aggressive expansionary policy, Hitler wanted war. Although clearly Hitler managed a economic miracle for Germany, but it was for war.

The real reason for the war was the stupidity of the Treaty of Versailles.

The total cost of these reparations was assessed at 132 billion Marks (then $31.4 billion, £6.6 billion) in 1921 which is roughly equivalent to US $442 billion or UK £284 billion in 2012, a sum that many economists at the time, notably John Maynard Keynes, deemed to be excessive and counterproductive and would have taken Germany until 1988 to pay.[2][3] The final payments ended up being made on 4 October 2010, the 20th anniversary of German reunification, and some 92 years after the end of the war for which they were exacted. The Treaty was undermined by subsequent events starting as early as 1932 and was widely flouted by the mid-1930s.

Which ultimately just created a half time break while everyone rearmed and had a bit of a rest.

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The reason for WW2 was Hitler's aggressive expansionary policy, Hitler wanted war. Although clearly Hitler managed a economic miracle for Germany, but it was for war.

The real reason for the war was the stupidity of the Treaty of Versailles.

Which ultimately just created a half time break while everyone rearmed and had a bit of a rest.

The reparations issue is a red herring. It never accounted for more than 0.5% of GDP and was very often unpaid. In today UK terms 0.5% would equate to about £7bn.

The killer for Germany was the enormous credit bubble it created after WW1 and into the 20's to avoid the austerity the victorious countries UK/France subsequently endured.

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Slowly slowly the TRUTH about what really happened in the Second World War will come out and i think we will look back and realise the history we have learnt at school was just the best type of Soviet propaganda.

The victors write the history, and in this case it was / is bankers.

A Russian writer, Viktor Suvorov, has claimed that Stalin was planning to attack Germany in 1941 and that the German attack was a pre-emptive move, as the Nazis stated at the time. Not a popular thesis in mainstream circles but I have always thought it curious that the Soviets had so much in the way of men and equipment massed at the border. What isn't disputed is that Britain declared war on Germany for invading Poland but didn't seem to mind at all when Stalin did the same a fortnight later

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Interesting comment post from Bastards OH's blog today;

Strangely enough thanks to the Internet we are all beginning to see the real reasons for WW2

Hitler inherited a nation of starving disposed people and a country deep in debt owing billions in repatriations....so what did he do?

He bypassed the banks and created his own currency called "Labour Treasury Certificates", measured not against gold, but against units of labour.

He allowed the banks to print deutchemarks, but the people traded in Labour Treasury certificates, valuable in Germany but valueless elsewhere!

Here is how some see it

In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:

“Germany issued debt-free and interest-free money from 1935 on, which accounts for Germany’s startling rise from the depression to a world power in five years. The German government financed its entire operations from 1935 to 1945 without gold, and without debt. It took the entire Capitalist and Communist world to destroy the German revolution, and bring Europe back under the heel of the Bankers.”

Here is how Churchill saw it,

"Germany's unforgivable crime before WW2 was its attempt to loosen its economy out of the world trade system and to build up an independent exchange system from which the world-finance couldn't profit anymore. .. (The Second World War - Bern, 1960)

“Hitler took over the privilege of manufacturing money, and not only physical moneys, but also financial ones. He took over the machinery of falsification and put it to work for the benefit of the people. Can you possibly imagine what would have come if this had infected a number of other states?” C. G. Rakovsky,

Probably why the Libertarian party (for who debt free money advocate Bill Still is standing) have had republican candidate gary Johnson along with a large amount of funding foisted upon them. Obviously Still or the libertarian party for that matter wont win, but could, like UKIP here, be a thorn in the side of the globalists.

Thanks for the information. It confirms what I'd read elsewhere about Hitlers magic turn around of a bankrupt country. That he sent the Rothschild bank rep' packing a little while after taking office JANUARY 30th, and then a few weeks later on MARCH 24th there were headlines in uk and usa....

http://www.biblestudysite.com/judeawar.htm

JUDEA DECLARES WAR ON GERMANY. Ran in daily express and associate rag in states same time.

Lovely thing this internet and long may it last. B)

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Does anybody have any statistics regarding Germany's debt from, say, 1930 to the outbrake of WW2?

From my,_admittedly terrible) 'history' lessons at school I was taught that Gerany was only able to reduce its unemployment rate through expanding the armed forces. I have never actually investigated the German economy in any great depth.

I will look up the book 'In Billions for the Bankers, Debts for the People' (1984).

Thanks.

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