The “Bretton Woods II” Delusion

Our European friends hope to impose upon us a new world economic order like the one we imposed in 1944.

by http://www.wvwnews.net/story.php?id=5958

“Laissez-faire is finished, the all-powerful market that is always right, that’s finished,” said Nicholas Sarkozy, speaking ex cathedra, last month.

As a result, said the diminutive French president, it is “necessary to rebuild the global financial and monetary system from the bottom up, the way it was done at http://www.wvwnews.net/story.php?id=5988 Woods after World War II.”

http://www.wvwnews.net/story.php?id=5780 Woods Agreements were actually signed in July 1944, when German troops still occupied Paris, a month before France was liberated by the Americans, who let Charles de Gaulle and the Free French do the honors.

Our European friends seem positively giddy about this weekend’s meeting in Washington, where they hope to impose upon us a new world economic order like the one we imposed in 1944.We “must have a new Bretton Woods–building a new financial architecture for the years ahead,” says Gordon Brown, who is surely aware the first Bretton Woods was a British humiliation, with London yielding place and submitting to Washington’s dictation.

http://www.takimag.com/blogs/article/the_bretton_woods_ii_delusion/

2008-11-14