The 2017 “Davos Consensus”—More Welfare and Warfare

The 2017 “Davos Consensus”—More Welfare and Warfare

“It’s a big club and you ain’t in it!”

I often think of these words, spoken by the great comedian George Carlin, when I read about the World Economic Forum meeting in Davos, Switzerland.

Every year, global elites descend on Davos to discuss the big issues of the day in a Bilderberg-like conclave. This year, George Soros was there. So was Bill Gates.

The most important world leaders go. As do CEOs of the world’s largest companies, mainstream media bigwigs, and prominent academics. Central bankers attend, too.

In short, it’s a bunch of out-of-touch, self-anointed elites meeting to hand down from above their uniformly bad “solutions” to the world’s problems. Then they pat each other on the back for all the good they’re doing.

No matter the problem, their prescription is always more welfare, more warfare, more money printing, more taxes, and of course, more centralization of power into global institutions.

Interestingly, Donald Trump has never been invited to Davos. But his many opponents surely have.

This year, former Vice President Joe Biden gave a provocative speech. He accused Russia of trying to “collapse the liberal international order.” It was basically a call to arms and only increased tensions.

Rising populism was another hot topic. The Davos crowd sees it as a huge threat.

One professional academic there claimed: “We have to pay for the social cohesion that we need to keep our societies advancing, and accept that this may be a higher tax burden on people.”

Christine Lagarde, head of the International Monetary Fund (IMF), struck a similar tone: “It probably means more redistribution than we have in place at the moment.”

Speaking of the IMF, the global elite has wanted a supranational global currency for a long time. In fact, it already has one on deck.

The IMF issues a type of international currency called the “Special Drawing Right,” or SDR. The SDR is simply a basket of other fiat currencies—the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound.

The SDR is not based on sound economics or the interests of the common man. It’s just another cockamamie invention of the economic witch doctors in academia and government.

The SDR is dangerous. It gives the government—in this case, a global government—more power.

The SDR is nothing new. The IMF has been slowly building it up since 1969. They’ve just been patiently waiting for the right moment to use it to displace the US dollar as the world’s premier currency.

Another 1929- or 2008-style financial collapse would be the perfect excuse for the globalists to execute their SDR solution.

Trump has inherited a stock market bubble near its peak—fueled by the Fed’s easy money policies. And he knows it. In recent months, he’s called the stock market a “big, fat, ugly bubble.”

There’s an excellent chance this bubble will burst on Trump’s watch. He might play along with the global elites’ SDR scheme, but I doubt it.

This is why Trump's first 100 days in office could change everything… in sudden, unexpected ways.

The situation is so critical that New York Times best-selling author Doug Casey and I put together an urgent video explaining how it could unfold—and how you can stay out of the crossfire. Click here to watch it now.

Nick Giambruno

Nick is Doug Casey’s globetrotting companion and is the Senior Editor of Casey Research’s International Man. He writes about economics, offshore banking, second passports, value investing in crisis markets, geopolitics, and surviving a financial collapse, among other topics. He is a CFA charterholder. In short, Nick’s work helps people make the most of their personal freedom and financial opportunity around the world. To get his free video crash course, click here.

Tags: economic collapse,