VLA Comment: Nixon took us out of the Brentwood deal. The Brettonwood deal was 44 nations getting together after World war II and agreeing that all the nations would be on the gold standard…to avoid the possibility of WWIII over economics and trade.

The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton Woods, New Hampshire, United States, to regulate the international monetary and financial order after the conclusion of World War II.[1]

The conference was held from July 1 to 22, 1944. Agreements were signed that, after legislative ratification by member governments, established the International Bank for Reconstruction and Development (IBRD, later part of the World Bank group) and the International Monetary Fund (IMF). This led to what was called the Bretton Woods system for international commercial and financial relations.

It must be noted that the Putin/Xi conference on BRICS would base currency on actual resources which Charlie Walters of Acres USA (organic sustainable) and NORM support the idea for decades…

Charles Walters Jr. (June 18, 1926 – January 14, 2009) was an economist, journalist, publisher, editor, author, entrepreneur, and family farm advocate. A tireless advocate for “peoples capitalism”, Walters was a president of the National Organization for Raw Materials (NORM), a long-time executive board member, and founder and editor of Acres USA, the North American voice of eco-agriculture, organic farming, and the family farm.

Raw material economics is based upon a simple idea: that raw materials income from its farms, ranches, timberlands, oceans, mines, wells, and recycling centers governs national income unless the latter is expanded by debt; since agriculture is the largest producer of new raw materials each year, it is the largest annual source of raw materials income.

The health, robustness, and sustainability of the American economy is directly tied to the production of raw materials and the price at which those raw materials first enter into commercial channels. When raw materials enter trade channels at prices in balance with the prices of labor and capital, the economy operates on an earned-income basis with no buildup of public and private debt. Conversely, when raw materials enter trade channels at less-than-parity prices with labor and capital, the economy lacks sufficient earned dollars to operate on a debt-free basis; therefore, public and private debt accumulates.