From Gold Standard to Debt Standard to Global Reserve Currency

Glenn Beck today reported on a very important meeting of world economic leaders that could affect us all and change our monetary system. This went virtually unreported by most of the mainstream media, but it's important and we should all be following this closely.  /S Lane

Glenn Beck: Bretton Woods 3 -- November 17, 2008 - 13:28 ET

"Glenn: I wanted to get some sense, does anybody really have an idea of how deep and how this is just destroying the Constitution and nobody did. "

Bretton Woods 1:

"One of the stories about a year and a half ago or two years ago mentioned something called Bretton Woods 1. I didn't know what it meant. . . . That was actually where the world got together after World War II and the United States said, Do you know what guys? This is going to be a hassle. Do you know what it's like to carry gold bars? It's going to get heavy and then you have to go to the bank and make it into coins. Why don't we just keep all the gold and then you guys just keep our dollar? It was the exchange currency. It was the -- it was the -- it's the global currency and we promised them at Bretton Woods 1 that we would hold the gold and we would never go off the gold standard. So, if you held a dollar, it would mean a dollar's worth of gold. . . ."

The road to the "debt standard" and Bretton Woods 2:

"Then we started the great society and we were first told debt doesn't matter. . . . Debt? What debt? Oh. We're and doing that war thing. Don't worry about it. We have plenty of money. We didn't have enough gold. . . . So, what we decided to do was go off of the gold standard and onto the debt standard. This is sounding like it's going to work out well! Well, that's what the rest of the world thought. So, they called Bretton Woods 2, another summit where the world got together and said, Hey, remember when you guys said you would never go off of gold and we bought all of your dollars and so now we have them sitting in your bank? You guys are devaluing that and so it hurts us? And we went, no, no, no, no, no. First of all, we'll never be irresponsible with our debt. (Laugher.) We're Americans. And, you know what? It's only going to help you because we're going to change gears and become a consumer society."

Fast forward to this last weekend - Bretton Woods 3:

"Well, now we're at the top of our debt limit and it's not a self-imposed limit.. . . . You can carry debt, but not an irresponsible debt because in the end it all comes raining down like giant Steinways. Right? Well, that's where we are now. And so the world call together another summit, only in a couple of news stories have I heard it called what it really was and, that is, Bretton Woods 3. . . . The rest of the world  . . . they want a global reserve currency. . . . They're looking for a global reserve currency. They were talking about there is no franc, there is no mark, there is no yen, there is no dollar. . . . That's what happened this weekend. Was anybody giving you that story on television or radio? . . . That's what was happening this weekend, not the boring stuff that they all reported on, the context, the meaning of it, but you only know that if you know history."

Glenn's warning to bloggers and e-mailers:

". . . you've got to be careful. You have to second source everything. With everything that is going on in the world today, all of these rumors, all of these things, the truth is bad enough, gang. The truth is bad enough. You don't need to go to some, you know, i'minmybasement.org. You don't need to do that. The truth is scary enough and you don't -- what we cannot afford is more half truths, more lies. We're not -- we don't have a dollar shortage. We have a trust shortage. And so be that person that people can trust."

Read the entire program transcript: CLICK HERE