129 days ago • Posted by Charles-Henry Monchau
The IMF calls for a "new Bretton Woods moment". Time to look at hard assets?
The International Monetary Fund Managing Director Kristalina Georgieva said Thursday at the annual meeting of the IMF’s Board of Governors that governments must cooperate to glue the global economy back together after it fell apart this year due to the pandemic. The head of the IMF called for a new “Bretton Woods moment.” Bretton Woods was the agreement in 1944 that integrated the gold standard and implemented a monetary world order. The details about this announcement were vague but some see it as a sign of more fiscal stimulus. Analysts think that this call for “another” Bretton Woods moment will boost Hard assets. Interrestingly, the commodities to GDP ratio just reached a 60 year low! (see chart below from Crescat Capital).