#5 History of the World Economic Forum and 8 of their Eerie Predictions by 2030
Are these really predictions? Or are plans being taken to slowly bring them into fruition?
Published in 2016, this article by the World Economic Forum (WEF) offers some insight on what our world could look like less than a decade from now.
Does the WEF sound familiar to you? It is run by this man, Professor Klaus Schwab, Founder and Executive Chairman.
The WEF was founded in 1971 (please remember this year by heart) by Klaus Schwab, a business professor back then at the University of Geneva. This was also the same year that the dollar was taken off the Gold Standard.
To understand the significance of the formation of the WEF, we must first go back in time to 1944 when the Bretton Woods Agreement was formed. To refrain from boring you about the history BEFORE the Bretton Woods Agreement, here’s a summarised timeline of events:
Okay let’s get to the turning point in world history, shall we?
Bretton Woods System
What is the Bretton Woods System?
The Bretton Woods system was an international monetary agreement that standardized currency exchange rates by pegging various countries’ currencies against the US dollar. The US dollar itself was pegged against the price of gold. It aimed to bring uniformity to global exchange rates. This system regulated international trade between 44 countries and remained in practice from 1945 to 1973.
What happened to it?
Owing to geopolitical factors and a deterioration in the Balance of Payments due to the increased competitiveness of European and Japanese exports, as well as the financial demands of the Vietnam War, the US economy faced significant pressures. During this period, the supply of the US Dollar in circulation exceeded the value of its gold reserves. The United States recognized that it would not be able to exchange Dollars for gold if any foreign Central Bank sought such an exchange. A precedent had been set in 1960 when France converted its US Dollar holdings into gold. Fearing the inability to carry out such conversions, on August 16, 1971, US President Nixon announced the decision to abandon the practice of converting the Dollar into gold. This marked the conclusion of the Bretton Woods Monetary System and paved the way for a new monetary mechanism, commonly referred to as Fiat Money.
In a nutshell, 1971 was the pivotal turning point of Money as we know it, into the current system that we use now: the Fiat Money System.
Fiat Money
In the Fiat Currency Monetary System, governments issue currency notes that lack backing from commodities such as gold or silver. Instead, these notes represent commitments made by the monetary authority and are implicitly supported by a country's economic resources. The value of this currency is determined by the interplay of demand and supply, rather than being linked to the intrinsic value of a commodity, as was the case under the Gold Standard. The majority of contemporary paper currencies, including prominent ones like the US Dollar and the euro, fall under the category of fiat currencies.
The introduction of the Fiat currency removed constraints on the quantity of money in circulation. Over time, there has been a significant expansion in the money supply, leading to a substantial decrease in the Purchasing Power Parity of the US Dollar. In fact, the Covid-19 Pandemic prompted a rapid increase in money supply to provide support amid restrictions imposed on economic activities.
To summarise thus far,
Bretton Woods Agreement in 1944 held the USD accountable to the price of Gold
Nixon nulled the Agreement in 1971, changed it to a Fiat system that allowed large scale printing of money
WEF was conveniently formed.
World Economic Forum (WEF)
What is their purpose?
The World Economic Forum (WEF), established in January 1971 (wait what, 7 months before the end of the Gold Standard?) by Klaus Schwab, serves as a platform for business and political leaders to discuss significant global economic and political events. It is headquarted in Cologny, Switzerland. Over the years, the WEF has facilitated discussions on various pivotal events, such as German reunification, the end of the Cold War, the conclusion of South African apartheid, the aftermath of 9/11, and the 2008 Great Recession. Schwab, an influential engineer and economist, founded the WEF and has been associated with various international organizations, advocating for sustainable development and climate leadership. While the WEF itself does not have the direct authority to make decisions, its role in connecting influential actors plays a crucial part in shaping the narrative and ideas that impact monetary policies and financial regulations worldwide.
Who is involved in the WEF?
The main stakeholders involved in the WEF's discussions on global monetary decisions encompass a broad spectrum of actors. Its diverse participants include central banks, international financial institutions like the International Monetary Fund (IMF) and the World Bank, major commercial banks, and leading academic institutions. Key central banks like the Federal Reserve, the European Central Bank, and the Bank of Japan, along with influential financial institutions such as JPMorgan Chase, Goldman Sachs, and Deutsche Bank, are often represented at WEF meetings. These institutions engage in discussions, share their perspectives, and absorb insights from other participants, potentially influencing their subsequent policy actions or strategic decisions.
What are they most known for?
The flagship event of the World Economic Forum is the invitation-only annual meeting held at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from academia, NGOs, religious leaders, and the media in an alpine environment. The winter discussions ostensibly focus around key issues of global concern (such as globalisation, capital markets, wealth management, international conflicts, environmental problems and their possible solutions).
Why are they significant?
The WEF's influence on global monetary policy lies in its ability to convene influential leaders and propose policy solutions. One notable initiative is the "Great Reset," announced in 2020 after the COVID-19 pandemic. This program aimed to address systemic weaknesses in the global economic and political systems exposed by the pandemic. It emphasized a balance between people, planet, and profit, suggesting changes to wealth taxes, environmental policies, and even advocating a "fourth industrial revolution" driven by technological advancements. While some world leaders, like U.S. President Joe Biden and U.K. Prime Minister Boris Johnson, endorsed aspects of the Great Reset, it also triggered conspiracy theories alleging that elites were using the pandemic to increase their control over global systems.
“Never let a good crisis go to waste.”
-Winston Churchill
Are the pieces of the puzzle starting to click in your head? Now, back to the story on Klaus Schwab. In Klaus’ book titled ‘COVID-19: The Great Reset’, Danish Politician Ida Auken writes that “you will own nothing and be happy”, suggesting a global consolidation of assets and resources into the hands of these oligarchs.
Sound familiar? Are housing prices in your country skyrocketing? Thinking of resorting to renting? Is price inflation on your favourite goods and services bothering you?
Every time massive money printing occurs, large conglomerates buy up bigger portions of the pie, leaving less for ordinary folks like you and I. Perhaps now is a good time to start questioning the powers that supposedly have our best interests at heart.
Here are the 8 predictions plans that will be rolled out by 2030:
All products will have become services
Whatever you want, you can rent and it’ll be delivered by drone.
There is a global price on carbon
This will help make fossil fuels history.
US dominance is over. We have a handful of global powers instead.
With the involvement of the BRICS nations, it is highly possible that we see a decrease in Dollar dominance as the US gets increasingly saddled in debt.
No more hospitals. Now we’re bringing the hospital to your homes.
Home-based medical care is increasingly permeating in our lives.
Judging by the rapid adoption of telehealth, I’d say this is pretty much a reality now.
We are eating much less meat.
We are now seeing an increasing trend towards alternative meat sources.
If prices of meat continue to increase due to disrupted supply chains, alternative meats will be the next obvious choice. (perfectly plays into their ploy)
Today’s Syrian refugees might become 2030’s CEOs.
I would not be surprised by this. If they are able to survive the hardships of being a refugee, they would likely have the grit to persevere and come up with solutions for our future given the right education and resource opportunities.
The values that built the West would have been tested to breaking point.
The US has long been the global hegemony, but as Ray Dalio crudely points out in his book ‘Principles for Dealing with the Changing World Order’, every empire that has resorted to printing large amounts of money has not survived and saw a rapid devaluation of their currency. Interested to see how this plays out in future.
By the 2030s, we’ll be ready to move humans toward the Red Planet.
With our dear Elon Musk hinting at a crewed mission to Mars in 2029 and saying that he plans to send 1 million people to Mars by 2050, I would not be surprised if space travel becomes commercialised in the distant future.
Sound eerie? Well it sure hits home with me. Until next time, preparing for the next World Reset.
Stay inquisitive,
Sean