When the United States moved off of the gold standard in 1971, it allowed the government to print as much money as it wanted. When gold was the standard, they could only issue as much money as they had gold or assets to back it. It affixed a value. We operate on a fiat money system now, which means the market forces dictate the value of the currency. Those values can be easily manipulated. A day of reckoning will be coming.
Today’s guest is an expert on what's been called the “Great Reset.” Professor Michael Rectenwald is the author of 11 books, including titles such as “Thought Criminal,” “Google Archipelago,” and more. He was a professor at New York University for 11 years. He’s a champion of free speech against all forms of authoritarianism, totalitarianism, and political correctness. In this episode of Upthinking Finance™, we discuss what the great reset is and how it’s impacting the globe.
The great reset is a package of plans that refers to the World Economic Forum’s agenda to reset capitalism from shareholder capitalism to stakeholder capitalism. Stakeholder capitalism is a system that not only considers shareholders in the operations of corporations but also stakeholders—customers, workers, communities, and society at large.
Klaus Schwab—the founder of the World Economic Forum (WEF)—believes that we should no longer operate on a free market and that we must counter neoliberalism and replace it with stakeholder capitalism.
Some argue that the “great” reset is a means by which the elite recoup their debt by starving certain populations from consumption patterns and standards of living. It also stems from the climate industrial complex and the green movement that has been in play since 1971. Climate catastrophists have been making their way into corporations, banks, and asset managers. They have a firm grip on economic levers.
Corporations, rather than voters, are impacting the decisions of the government. Michael points out that this is a pre-governmental arrangement. Instead of passing legislation to enforce climate policies, corporations, banks, and asset managers are leading the way. They’re not precluding legislation—they’re getting in front of it. They’re pushing the agenda so legislation will follow and they’ll be compliant. It’s an undemocratic process for employees, customers, and society. Why? Because costs will continue to increase for the people. It represents a tax on everyone.
What is “Environmental, Social, and Governance” (ESG) criteria?
The ESG index is the mechanism by which stakeholder capitalism is being...
