History Of Davos And The World Economic Forum

By Editor On May 27, 2022

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In this episode of the “Fed Watch” podcast, we get interactive with the Bitcoin Magazine livestream team, talking about the history of Davos and the World Economic Forum (WEF), as well as getting into some questions and answers 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 begin a new series discussing the history of important international institutions, like central banks, the International Monetary Fund and, this week, the World Economic Forum. The history portion takes up about half of the show and the rest is the probing questions and answers mentioned above.

“Fed Watch” is the macro podcast for Bitcoiners. Each episode, we discuss current events in macro from across the globe, with an emphasis on central banks and currency matters.

Beginnings Of Davos And The World Economic Forum

Davos (Switzerland) is the name and place for the yearly meeting of the World Economic Forum. Originally called the European Management Forum, it was founded in 1971 by a business professor in Geneva, the infamous Klaus Schwab. That should be a familiar year to Bitcoiners, because it is the same year President Nixon took the U.S. off the remnant of the gold standard.

At first, Davos was a small conference of European businessmen discussing Klaus Schwab’s ideas of “stakeholder capitalism.” Compared to unbridled capitalism, this new stakeholder idea expanded the ethical duty of the corporation from serving customers and shareholders to also serving employees and suppliers in a socially responsible way. Schwab took this idea further down the slippery slope outlining an ethical duty to the community and society as well.

Shareholder capitalism is simply a subtle way to make capitalism more socialist.

In 1987, the European Management Forum changed its name to the World Economic Forum and its yearly meeting to Davos.

Achievements Of Davos

One would expect an institution as famous and well-regarded as the World Economic Forum would have many achievements to its name. However, even after 50 years, the list of achievements is very short! The WEF claims a hand in stopping a Turkish and Greek war in 1987, a role in German reunification, and helping to end apartheid in South Africa by hosting a handshake between Nelson Mandela and Frederik de Klerk in 1992. That’s about it. Recently, they have claimed some victories on the environmentalism front, too.

Then what has the WEF been up to all these years? This is where it gets interesting.

In 2004, Klaus Schwab created the Forum of Young Global Leaders. It is a yearly program that graduates roughly 100 rising young leaders from around the world who are destined to high offices, either in government, business or culture. The program boasts 1,400 alumni that include presidents and prime ministers along with some of the wealthiest, most influential people in the world, like Elon Musk and Mark Zuckerberg.

These young leaders are indoctrinated into the WEF’s brand of Marxism, which you will commonly hear called “globalism,” the modern incarnation of stakeholder capitalism. You know something is pushing a global Marxist agenda when you hear terms like, “socially responsible,” “global governance,” “climate action” and “management” of all sorts.

COVID-19 And The Great Reset

COVID-19 gave the World Economic Forum and Klaus Schwab the break they were waiting for. Schwab rapidly released his new book called “The Great Reset,” making headlines around the world. If you didn’t know about the WEF prior to COVID, you do now.

“The Great Reset” is a call for a complete remaking of our world along the lines of stakeholder capitalism and the WEF’s brand of Marxism. Its famous marketing tagline is, “You will own nothing and be happy.” Yet again, a conspiracy theory becomes a conspiracy fact.

“As we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining 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 from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.” — WEF

Ideological Connections

Klaus Schwab has a deep Marxist past that starts with Father Hélder Câmara from South America. Câmara was invited to speak at the 1974 meeting of the then European Management Forum, and in that speech, Father Câmara called for wealth distribution in very clear language. He also became the first in a string of “Liberation Theology” priests to speak at the meeting over the years.

Câmara was a well-known revolutionary Marxist and persona non grata to many governments but also the person whom Schwab has called his “spiritual father.” His influence was much more broad than just the WEF. Câmara was also mentor to Paulo Freire, author of “Pedagogy of the Oppressed,” the third most cited book in the social sciences and underpins modern “Identity Marxism” that has infiltrated Western schools. A third disciple of Câmara is Pope Francis, known in some circles as the Marxist Pope.

“If one person lacks what is necessary to live with dignity, it is because another person is detaining it. […] the right to private property can only be considered a secondary natural right, derived from the principle of the universal destination of created goods.” — Pope Francis (emphasis added)

What we have here is the WEF playing a role in a large-scale Marxist attack on our society. The three disciples of Câmara, one being Klaus Schwab, play major roles in education, religion and business.

World Economic Forum On Stablecoins

Before we move on to the question-and-answer segment of the show, I outline a few times the WEF has spoken about Bitcoin. They are very much against bitcoin mining and often have levied attacks against it.

In November 2021, they produced a series of white papers about stablecoins and central bank digital currencies (CBDCs). These halfway steps are, of course, the WEF’s preferred way to appear to embrace Bitcoin’s revolution, while not really embracing 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.

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