Re: Record Deficit

I fancy that once the covid damage and churn that is presently taking place stabilises something like Bretton Woods (that the American government broke by reneging on the promise they had made.) will be convened.

But this time with the IMF providing a figure to use as a "benchmark" sorta like the IMF Special Drawing Rights instead of gold.

No doubt the Septics will want to run the show but IMO it is ESSENTIAL that does not happen for the simple reason that they just can't be trusted as they demonstrated very soon after the BW conference in 1944 ended and it took Nixon to put an end to the American chicanery in (I think 1973) - though that came at an awful price to the world that saw the creation of the Petrodollar in a real "devils deal" with OPEC and Saudi Arabia.