After listening to this song today I discovered my latest country music Stars, MERLE HAZARD and BRETTON WOOD. Interesting names…don’t you think? Let’s see, where in the world did their mamas get these names from?
Moral Hazard is a situation in which one party in a transaction is being insulated from risk because it has more information than another. The party that is insulated from risk (in our case the Federal Reserve) generally has more information about its actions and intentions than the party paying for the negative consequences of the risk (the people of the United States). Moral hazard arises because an individual or institution does not take the full consequences and responsibilities of its doings, and therefore has a tendency to act less carefully than it alternately would, leaving another party to hold the responsibility for the consequences of those actions.
Bretton Woods was formed in 1944 by members of 44 Allied Nations at the Mount Washington Hotel in Bretton Woods, New Hampshire. The result was the Bretton Woods System, a system of rules, institutions, and procedures to regulate the international monetary system. The Bretton Woods system gave “birth” to the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group.
The world economy recognized the system was not successful so Bretton Woods seized to exist. But the IMF and the World Bank Group are still “alive and well” today.
I love it when in the beginning of the song Merle says this song was “well received” at a concert they gave at the IMF. Ha! Truth be told, IMF would never recognize that their agenda drastically contributed to the current economic havoc.
IMF is the International Monetary Fund established at the infamous Bretton Woods conference in 1944. They claim its mission is to maintain global financial stability by providing financial assistance to the countries experiencing financial problems. They also justify their existence claiming to eliminate poverty throughout the world.
None of its mission has been accomplished since its inception. As a matter of fact the results of their actions were quite the opposite. They supported military dictatorships in at least 20 countries by giving these countries loans that not only did not get repaid but it eventually lead to the collapse of their economies. In reality they’re nothing but the tool of the Elitists to redistribute wealth by taking from the people of the developed countries such as the USA and giving to the dictators of the undeveloped countries.
Why would I want to know? Because about $37B of the Americans hard earned dollars are sent annually to and wasted by the IMF. Because this chunk has been and is contributing to our current federal deficit of “only” $14 Trillion. Because our country has NEVER had such a high deficit. Because our Politicians and Banksters keep spending money we don’t have. Because the Central Bank keeps on creating more money and finally because when these new money enters the world economy there will be pain. Are you prepared to deal with the possibility of Hyperinflation?