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In this episode of the Fed Watch podcast, we get interactive with the Bitcoin Magazine Livestream team, discussing the history of Davos and the World Economic Forum (WEF), and addressing some Q&A’s about my Federal Reserve predictions.
The week of May 23, 2022 was a slightly slower news cycle in macro and bitcoin, so I took the opportunity to start a new series discussing the history of important international institutions such as central banks, the International Monetary Fund and, this week . the World Economic Forum. The story part takes up about half of the show and the rest is the Q&A mentioned above.
Fed Watch is the macro podcast for bitcoiners. In each episode we discuss current macro events from around the world, with a focus on central banks and currency matters.
Beginnings of Davos and the World Economic Forum
Davos (Switzerland) is the name and location for the annual meeting of the World Economic Forum. Originally called the European Management Forum, it was founded in 1971 by an economics professor in Geneva, the notorious Klaus Schwab. This should be a familiar year for bitcoiners, as it is the same year that President Nixon freed the US from the rest of the gold standard.
First, Davos was a small conference of European business people discussing Klaus Schwab’s ideas of “stakeholder capitalism”. Compared to unbridled capitalism, this new stakeholder idea expanded the company’s ethical commitment from serving customers and shareholders to serving employees and suppliers in a socially responsible manner. Schwab took this idea further down the wrong path and also outlined an ethical obligation to community and society.
Shareholder capitalism is simply a subtle way of making capitalism more socialist.
In 1987, the European Management Forum changed its name to the World Economic Forum and its annual meeting in Davos.
Successes from Davos
One would expect an institution as famous and respected as the World Economic Forum to have many accomplishments to its name. But even after 50 years, the list of successes is very short! The WEF claims to have stopped a Turkish and Greek war in 1987, played a role in German reunification and helped end apartheid in South Africa by hosting a handshake between Nelson Mandela and Frederik de Klerk in 1992. That’s it already. Recently, they have also had some victories on the environmental protection front.
So what has the WEF been up to all these years? This is where it gets interesting.
In 2004 Klaus Schwab founded the Forum of Young Global Leaders. It is an annual program that graduates around 100 aspiring young leaders from around the world destined for high office in government, business or culture. The program includes 1,400 alumni, including Presidents and Prime Ministers, as well as some of the world’s richest and most influential people, such as Elon Musk and Mark Zuckerberg.
These young leaders are being indoctrinated into WEF-branded Marxism, which you will commonly hear as “globalism,” the modern-day incarnation of stakeholder capitalism. You know something is driving a global Marxist agenda when you hear terms like “socially responsible,” “global governance,” “climate action,” and “management” of all kinds.
COVID-19 and the great reset
COVID-19 has given the World Economic Forum and Klaus Schwab the break they have been waiting for. Schwab quickly published his new book, entitled The Great Reset, which made headlines around the world. If you didn’t know about the WEF before COVID, you know now.
“The Great Reset” is a call for a complete redesign of our world along the lines of stakeholder capitalism and the WEF brand of Marxism. His famous marketing slogan is, “You will own nothing and be happy.” Once again, conspiracy theory becomes conspiracy fact.
“As we step into a unique opportunity to shape the recovery, this initiative will provide insights to inform all those concerned with the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and… the management of a global commons. Drawing on the vision and deep expertise of leaders engaged in the Forum’s communities, the Great Reset Initiative has a number of dimensions to build a new social contract that honors the dignity of every human being.” — WEF
ideological connections
Klaus Schwab has a deep Marxist past, beginning with Father Hélder Câmara of South America. Câmara was invited to speak at the meeting of what was then the European Management Forum in 1974, and in that speech Father Câmara, in very clear language, called for the distribution of wealth. He was also the first in a line of “liberation theology” priests to speak at the gathering over the years.
Câmara was a well-known revolutionary Marxist and persona non grata for many governments, but also the person Schwab called his “spiritual father”. His influence was much broader than just the WEF. Câmara was also a mentor to Paulo Freire, author of Pedagogy of the Oppressed, the third most cited book in the social sciences and underpins the modern Identity Marxism that has infiltrated Western schools. A third disciple of Câmara is Pope Francis, known in some circles as the Marxist Pope.
“When a person lacks what is necessary to live with dignity, it is because another person is holding it back. […] the right to private property can only be viewed as a secondary natural right derived from the principle of the universal destiny of created goods.” – Pope Francis (emphasis added)
What we have here is the WEF playing a role in a full-scale Marxist attack on our society. Câmara’s three students, one of whom is Klaus Schwab, play important roles in education, religion and business.
World Economic Forum on Stablecoins
Before we move on to the show’s question-and-answer segment, I’ll outline a few times the WEF has spoken about Bitcoin. They are very much against bitcoin mining and have often leveled attacks against it.
In November 2021, they produced a series of white papers on stablecoins and central bank digital currencies (CBDCs). These half-steps are, of course, the WEF’s preferred way of welcoming Bitcoin’s revolution, while not really welcoming anything new. CBDCs in particular are a wonderful way for the WEF and like-minded globalists to co-opt the Bitcoin revolution and use it to increase their own power and influence.
questions and answers
At the end of the show, the guys from the Bitcoin Magazine Livestream team, Chris Alaimo and Q, ask several questions about the Federal Reserve and the US economic outlook for the next few months. It’s a great segment and allows me to flesh out my macro predictions. You have to listen to find out!
That’s enough for this week. Thanks to the readers and listeners. If you like this content, please subscribe, rate and share.
This is a guest post by Ansel Lindner. The opinions expressed are solely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
