or a new bretton woods i think they're signaling that we're going to have a new brand was an a great reset you hit delete on all their bad debts the quadrillions and hex the tilia ins of bad debt out there that gets disappeared and a new bretton woods comes in and they're seeing this as perhaps like one of the c.b.d. sees a central bank digital currency issued perhaps by the i.m.f. or the world bank global s.t.r. maybe these are some of the ideas but i think this is what they're seeing they're hoping in the global institutions are hoping that this is just a moment for a great reset oh definitely it definitely will be because they've run out of capacity to shoot it at any money now that they print goes directly into inflation and people are saying that when they go shopping they notice food prices are going up and that's why a lot of starvation in america so. i hope they reset or they could have get a lot of bad effects well of course into this election we're seeing also the dramatic escalation of covert cases in europe in america so on top of this obviously the economy is not going t

argues that we need to do bretton woods, your thoughts about this. and if it happened to coincide with a bite and president say, versus a tromp, do you see any difference from him on that score? sure, quick comment on that. the original bretton woods that took place in the forty's gave us a new version of the gold standard because the original gold standard was removed back in the thirty's by f.d.r. . but when people hear this, a lot of the libertarian people hear this, some people will soon doubt. these political elites are interested in bringing back the gold standard does not show at all. bretton woods simply refers to a meeting that took place in a certain place. so when bretton woods comes back, there will not be any hard money involved. it will not be backed by gold, it will not be backed by bitcoin. it's going to be just another way to try to get stability in the unstable world of money printing. i could be the i.m.f. currency, it could be a basket of digital currencies from around the world, whatever it is, it's not going to be any different

what do you anticipate with this new bretton woods, the i.m.f.'s calling about how that changed things line what we're already seeing over the past couple years more and more kind of a decentralization. so for example, if you look at trade between russia and china over the past 2 years, it's really the dollar ised. so it used to be, you know, most like 80 percent to 85 percent of trade was in dollars. again, past 2 years that shifted to something like 45 percent of their trade in dollars. and, you know, of course, now we've seen iran for example, potentially using because to go rounds of sanctions. and so we're seeing more of these kind of off dollar channels already developing. so my base case going forward is that that's going to continue in some way that we're going to see kind of a diversification in payment networks, including for oil, which is part of this, you know, petro dollar system. now i think that there are these going to be these potential pushes for reform, more like a 2nd, bretton woods to see if policymakers can try to unify that.

or a new bretton woods i think they're signaling that we're going to have a new brand was an a great reset you hit delete on all their bad debts the quadrillions and hex the till ins of bad debt out there that gets disappeared and a new bretton woods comes in and they're seeing this as perhaps like one of the c.b.d. sees a central bank digital currency issued press.

is calling for a new bretton woods. what do you think this means in practical terms, a global century, central digital currency, what does it mean? tell us. i don't even know that needs anymore. i mean us who are living today saying that, you know, the c, b, d, c's are going to help us fight climate change on what it's like to just throwing words out like bretton woods and reset and climate change and capitalism, you know, lips i don't even know what anything means anymore, like it's just so like, you know, with britain and with the birth dead anyways, it's like what, why are we really back that anyway? what does this have to do with anything? you know, are we bringing that goal? like we are moving back in time like this, no idea what? well, i think what they're saying is they need to be a global reset, but they don't know exactly what that means except that they know they're in trouble. and so what they're going to reset against, i mean that's a good point, doesn't mean they're going to reset against all the just means

calling for a new bretton woods so why america it's a vestige of america and the federal reserve and the new york fed is just a money printing catastrophe this new bretton woods they're waking up to the fact my god we're about to lose to china so what will be the result of this new printing words will china laugh and just say well we've been buying gold for 20 years and we think we have enough gold to support our economy we don't get we don't care what you do or when they seek a seat at the table or what's the dynamic there dan good question and. we're living through a historical time to read a new britain with britain would. the money which more concerned me as it looks like there is no stop to endless money printing in the west europe us there is no base case where we get out of money printing most of the non chinese rule has been sucked into 0 percent interest rates. u.s. is the last one standing that hasn't been stuck there but they're on their way i think most people are predicting that we're going to hit 0 percent interest rates as well be payments to get out of this covert cra

they came together under the bretton woods system. they came together and you know what is already striking to me and i agree entirely with the point about, you know, the united states is no longer that interested governments are no longer g 20 doesn't really matter very much. what's very interesting to me is that the world is capable of coordinating at an international level to rescue wall street, the city of london and frankfurt, basically, in other words, the financial system. so we watched central bank governors from the federal reserve to the bank of england to the bank of japan, to the bank of the e.c.b. we're together, coordinate and help each other to tackle the problems faced by the finance sector. and it's deeply ironic that the leaders who are leaders con, do the same thing to tackle the problems facing on the one hand, the ecosystem. and on the other hand, millions and millions of the world's people. that's a really, that's this bizarre. what's the word malfunction with whereby technocrats can get together and fix the fina

so there's going to be a correction, whether a new bretton woods or some kind of break up of the world's financial system with china and russia and iran tops india, brazil, maybe the brics countries plus having their own financial systems which avoid the dollar avoid the pound and avoid the drunken sailor? the printing presses. yeah, i totally agree. that's why i think when you're talking about let's you know, keep the britain unified and voice a session. my point is, if the game is over, all these countries are going to fragment out anyway. and they're all going to go on a big point standard. you're going to be up in scotland. i'm a surprise she took you so long to get back up to scotland. you're a frickin scot. your name is galloway. you should be an m.p. in scotland from the beginning. why hang out in westminster without us, you know, spends in london cockneys. that's no good place for george galloway. now let me ask you this as i am the defacto head of the maxwell clan. the maxwell clan, of course, as the camelot consul. but there is no formal appointment of me as head of the maxwell

wind to revisit the bretton woods. so what do you make of the central bank talking about digital currencies? now, what does that portend? what could we see happen to global monetary system? and what is this going to mean? do you think, you know, there's a couple different vectors where that can matter? one central banks of course, always want to find new ways to increase their, their own options. right? so we've already seen over the past couple decades, a shift from, you know, the fed mainly focusing on interest rates to incorporating asset purchases at any, including things even like corporate bonds or for junk bonds in some cases. so we've seen kind of an increase in the mandate from the central banks and dental bank is a currencies are basically technology that would allow them to tenshi even more fine control over monetary policy. so from their perspective, that's a good thing. but of course, that opens up privacy concerns, it opens up all sorts of other issues from other perspectives, and then to pay and where yo

one of those was bretton woods, it lasted half a century. we need to do that. right now it is more out there. yes, sir? >> what is your thought on artificial intelligence and the increased productivity effect on middle-class jobs? i think the only way we will know that the economy is incapable of creating a lot of jobs is if we have very low tax rates and really strong currency and little regulation. until we get those circumstances, we should not look for other causes of our unemployment problems. i expect there to be an abundance of jobs when we get tax cuts and king dollar. mr. kudlow: there is an argument floating around that i just don't like. the basic argument is that advanced high-technology breakthroughs, along with the automation that goes along with that, are necessarily bad for the economy and jobs. so, here is a case where they should look back in history. have had tech breakthroughs in this country -- had one after the civil war with railroads and so forth -- the 1920's were full of technology breakthroughs in electricity, radio, and so forth. the

they came together under the bretton woods system. they came together and you know what is already striking to me and i agree entirely with the point about, you know, the united states is no longer that interested governments are no longer g 20 doesn't really matter very much. what's very interesting to me is that the world is capable of coordinating at an international level to rescue wall street, the city of london and frankfurt, basically, in other words, the financial system. so we watched central bank governors from the federal reserve to the bank of england to the bank of japan, to the bank of the e.c.b. we're together, coordinate and help each other to tackle the problems faced by the finance sector. and it's deeply ironic that the leaders who are leaders con, do the same thing to tackle the problems facing on the one hand, the ecosystem. and on the other hand, millions and millions of the world's people. that's a really, that's this bizarre. what's the word malfunction with whereby technocrats can get together and fix the fina