The Great Reset: Elites Caring About Us?

During the week of January 25, the World Economic Forum will meet digitally for “high-level ‘Davos Dialogues’ where key global leaders will share their views on the state of the world in 2021.”

The WEF’s annual January in-person conference in Davos, Switzerland, has been postponed until May 2021.

Background

The Word Economic Forum, a non-profit foundation established in 1971 in Geneva, Switzerland, considers itself “the International Organization for Public-Private Cooperation.” Its mission is to engage “the foremost political, cultural and other leaders of society to shape global, regional and industry agendas.” It says its aim is to be impartial, global, holistic and forward looking.

WEF holds annual meetings in Davos, Switzerland. Although their Open Forum is free and “anybody can attend” (if you queue up early, since space is limited), free main events are by invitation only. Uninvited members of WEF can attend for a fee (around 480,000 Pounds Sterling or around 650,000 U.S. Dollars). Around 3,000 people typically attend, usually about 1/3 from business and the rest from government and quasi-government.

The Great Reset

WEF’s agenda for 2021will continue to be “The Great Reset”. The January 2020 meeting rebranded this long-time push for controlled globalization as response to Covid-19. The fine points of this agenda are expected in 2021. But the general platform seems to be set.

Build Back Better: Highlight of The Great Reset

“Build Back Better” is the core principle for those who believe capitalism is not working, so every aspect of our society needs to be re-shaped. Among the most ambitious plans are the following:

* Corporations must give up shareholder (owner) focus and adopt stakeholder (society as a whole) focus. The public sector must support this new focus.

* Harm to the global environment dominated the latest Global Risk Report. Therefore, both private and public sectors must take action to mitigate climate change and other environmental threats.

* New education models must equip children with skills demanded by globalization and rapid advances in technology.

* Building Back Better must include a wide-range of investments by the public sector – government spending in improved greener infrastructures as well as in human capital.

* Both private and public sectors must adapt to the Fourth Industrial Revolution.

The Fourth Industrial Revolution can be described as the advent of “cyber-physical systems” involving entirely new capabilities for people and machines … Examples include genome editing, new forms of machine intelligence, breakthrough materials and approaches to governance that rely on cryptographic methods such as the blockchain.

The Great Opportunity

Proponents of The Great Reset view Covid-19 as “a great opportunity” to implement controlled globalization guided by moral governance. Note, “governance” is the term used, not government. By way of reminder, government implies leaders elected by their constituents; while “governance” implies rules implemented by the non-elected.

Precedents

Jekyll Island and the Federal Reserve: In November of 1910 leaders of the financial world met in secret at Jekyll Island, off the coast of Georgia. The crisis that prompted the meeting was not a virus but persistent foolish investments that resulted in bank runs and general financial instability. The response was the creation of the Federal Reserve Bank, an independent institution that operates outside the control of Congress or any other elected body. Indeed the Fed provided reasonable financial stability, but unfortunately brought about undesirable results as well.

The fact that the Federal Reserve was born on Jekyll Island backed by the cream of the banking elite, it enables a debt-based economy, and it finances wars is freely acknowledged even by the Federal Reserve. End the Fed, April 25, 2018, Just Vote No

Bretton Woods and the short-lived gold-backed dollar: In 1944, the cream of the crop in the financial world met again, this time in Bretton Woods, New Hampshire. The crisis turned into opportunity was the need to plan for the reconstruction of war-torn Europe and Japan. The response was the establishment of the International Monetary Fund, the establishment of the Bank for Reconstruction and Development (now called the World Global Bank), and the creation of a totally new monetary system. The new system made the U.S. Dollar a global currency pegged to gold reserves, and all other currencies pegged to the dollar. The strong dollar allowed Europe and Japan to revive their manufacturing base by selling their goods to the U.S. Unfortunately, discipline required to maintain the dollar pegged to gold evaporated by 1971, opening the floodgates of government spending and unsustainable debt.

Now the “Public-Private” Elite Meets Again

Again people important enough to be invited to the table will meet at Davos. This time the meetings are not secret — as in Jekyll Island — or as narrowly focused — as in Bretton Woods.

This time, participants aim to shape all sectors of the global society: Manufacturing, Consumption, Digital Economy, Energy, Financial and Monetary Systems, Global Public Goods, Health and Healthcare, Investing, Media, Mobility, Technology Governance, Trade and Global Economic Interdependence, The Internet of Things, New Economy and Society.

We The Little People

Those of us nowhere near important to be invited to Davos or well off enough to pay around $600,000 to attend need to remain vigilant. When our elected officials start talking about “building back better” and reshaping institutions, we need to sift through the rhetoric and find out what it is we will eventually be voting for and how much will need to be taken out of our wallets.