Chapter 1486: It’s Still France

Callaghan glanced at Harold Wilson, who shrugged his shoulders indifferently, these words? Indeed, it is not very suitable for a democratically elected minister to say, although the underlying logic of the international community’s relationship is like this, but in an international conference that is being watched by the world, the impact is still very big.

Now that the global economy is becoming more and more of a monolith, and Japan is not a small, insignificant country, and the two countries certainly still have the opportunity to sit down, Callahan really can’t say such things.

“In fact, the unity and stability of Europe and the United States is the foundation of the prosperity of the free world, of course, we do not deny that Japan as a country is of strategic importance. But its role in the midst of the international economic system needs to be more widely recognized, and empty industrial scale won’t cut it, diplomatic influence, military capability, and so on are also needed.”

Alan Wilson is close to hanging white supremacy on the mouth, although he did not say it, but the words are this meaning, the first Japan is not a normal country, Japan has a military? Japan has an army? But the Federal Republic of Germany has an army, although both countries are defeated countries, but in the status is not the same, Germany is far more important than Japan.

“It’s not good for the British to take responsibility, so push out the Cabinet Secretary.” Kissinger whispered to Rockefeller, “Actually, we should pay attention to this secretary general.”

“It’s his wife who deserves attention, not him.” Rockefeller replied with a smile on his face, “In terms of the underlying logic of the system, Sir Alan is saying it doesn’t count, it’s the British Cabinet.”

Is that so? Kissinger always felt that things were not so simple, but he really had no evidence to prove his judgment, and Rockefeller’s statement that this Cabinet Secretary General had been pushed out to say things that politicians were not good at saying had some truth to it, and the logic made complete sense.

In addition to Japan, the representatives of various countries actually agreed in their hearts to make a big statement, the words inside the British Cabinet Secretary of the countries outside Europe and the United States look down on.

But to the Japanese side, it does seem like a humiliation, or take away the likeness, it is an arrogant old white man, immersed in his own world.

If the twenty-first century, Alan Wilson, even if he could not be the king of understanding, how must not fish for a governor of the Crimson State to do, but unfortunately, nowadays all talk about what unity, what diversity. Diversification of the consequences of all countries of course is not yet seen, except for the United Kingdom a reluctant to disclose the name of the authority.

“I think the European countries are very much looking forward to a more constructive international monetary system, there’s no doubt about that, not just Britain but all the countries of Europe.”

Like the guru peddling success on the main podium, just about to come down with a, “Hear ye, hear ye, applause.” Hesitantly, he comes down with the air of a man who hasn’t succeeded in anything except lying to you.

Sovereign monetary system is certainly better than the Bretton Woods system for the United States, although theoretically everyone has equal opportunity to take back the initiative of the currency in the hands of control, but obviously the United States of America’s national strength far more than any of the countries present, which is no maintenance costs, the United States is certainly happy.

The United States is happy other countries are not necessarily happy, otherwise in 1944, the United States why oppose the British program?

Delegations of different countries have different positions, but basically divided into two camps, respectively, the United States and the United States of America’s follower Japan, as well as the European countries, although the European countries pushed out the United Kingdom to talk to the United States, but the country that lashed out most sharply against the dollar is really not the United Kingdom, Chirac’s attitude of toughness, said that if the system can not satisfy France this time, the European Community may establish its own gold standard system.

“It’s very unreasonable that the U.S. veto should not exist.” Chirac’s remark made the faces of those present on the American side look bad.

The U.S. has a veto in both the International Monetary Fund and the World Bank, two organizations that theoretically will not pass resolutions against the United States.

After the post-war awakening of American economic hegemony so many years before military hegemony, the U.S., with six percent of the world’s population occupying fifty percent of its wealth, had to set up a look-alike rule to protect that wealth.

The American rationale for setting financial rules was that the only way to both maintain their position of wealth and save their country from war was to set rules that would be favorable to the United States so that all other countries would play by the rules.

As long as it stays within the box of that rule, the U.S. can achieve its goals.

Both the World Bank and the IMF are headquartered in Washington, D.C. Although the two organizations have many foreign representative offices around the world, the center of power is undoubtedly the headquarters in Washington, D.C., and the foreign offices are only auxiliary to the role of information collection and project supervision.

At the beginning of the establishment of the World Bank and the IMF, the United States and European countries reached a tacit agreement on the leadership of the two organizations, the president of the IMF was nominated by European countries, and the president of the World Bank was nominated by the United States.

“Are the French going to plow up the American presidential hill?” Alan Wilson, hearing Chirac’s claims, thought it would be softer to attack Japan, at least not as fearlessly as the French.

Allen Wilson’s words in the bad, and did not come up to the United States of America’s veto charge, although he was tempted to do so.

But taking into account the power position gap, the United Kingdom still set the goal very realistic, a veto the United States will not let, for the European countries to fight for the total share as well as the weight of voting rights, much more realistic.

Especially the right to vote, the World Bank and the IMF voting rights of the United States always have to let out a, otherwise, then what to talk about? The oil crisis and the economic crisis is caused by what, countries know in their hearts, because the problem of over-issuance of the dollar, it can be said that all countries in the world have been over-issuance of the dollar to pay the bill, which is not the United States when there is no such thing as a reason.

“The United States to be able to face up to the views of the French would be good.” Callahan actually hoped in his heart that Chirac’s suggestion, or bashing, would become a reality, so that Europe’s autonomy would expand quite a bit.

This is the time for Britain to remember that it’s part of Europe again, and in normal times the British never remember that they’re part of Europe.

“It is still unlikely. Still, I believe that the United States is not good enough to have a seizure. France still has considerable power.” Alan Wilson opened his mouth, of course, the whole of Algeria and the French mainland together, how can there be no strength it, the old imperialism.

If it is not those French-speaking countries in Africa to support, France by virtue of the local force, can establish an independent defense system? How is that possible? But to shake the United States, or not enough.

Unless the world is wide open, the free world is only half of the world, and although it may be a bigger one, there is still another half of the world that is not influenced by the United States.

If the other half of the world can one day be brought under the umbrella, it might be possible to change the situation, and for now it’s better to define the goal more realistically.

Compared to Chirac’s comments, all that British talk about the sterling area, or voting rights, or the yen’s ineligibility to increase its share, makes sense.

Both the IMF and the World Bank use a weighted voting system. What is a weighted voting system?

Just as in a joint-stock company with different rights of the same share system, two people have the same ten percent of the shares, one of them has only one vote, that is, has ten percent of the voting rights; the other one has three votes, that is, has thirty percent of the voting rights. This is not unheard of in the United Nations, the Soviet Union is not a country of three votes typical of it.

In the IMF and the World Bank, it is clearly stipulated that different countries have different “share”, the share of how much determines the number of voting rights, with a larger share of the country has more decision-making power, there are beyond the voting power of other countries.

In the IMF, each member’s voting rights are divided into two parts: basic voting rights and share voting rights, the United Kingdom to fight for is the IMF among the share voting rights.

At this point in time, the European countries, there is a big today to choose not to make us satisfied with the president, or no one will not want to leave the posture.

Although the United Kingdom’s claim to make the United States meat pain, but at least than the French are still a little stronger, the French are to abolish the United States of America’s veto. If it weren’t for the fact that the Soviet Union was now watching, the U.S. would want to give the French a taste of how the Soviet Union was treated in the world.

“Getting Britain to agree to the demonetization of gold can only be done with some degree of concession by the United States.” In his communication with Kissinger, Callahan laid out the basic position of the European countries.

The agreement to revise the relevant provisions of the Special Drawing Rights (SDRs) so that the SDRs would gradually replace gold and the dollar as the main reserve funding of the international monetary system provides for free trading of SDRs between member states without the need to obtain the consent of the IMF.

Transactions between the IMF and Member States are conducted in SDRs instead of gold, and all assets held in the IMF’s general account are expressed in SDRs. Expand the use of SDRs in the IMF’s general business transactions and maximize other business uses of SDRs.

In addition, the IMF should monitor the SDRs regime at all times and modify or add or subtract provisions as appropriate.

“Of course, the European vote, including Britain, France and Germany, should be more than half of the total vote, so that the relationship between Europe and the United States will be more equitable. This is a provision that the European countries are particularly in favor of.” Callahan beamed at Kissinger, “The previous monetary overshooting in the U.S. has left a deep impression on Europe, especially with France spreading its attack on the dollar in Europe.”

Kissinger spoke up with a you’re-thinking-about-fart-eating look on his face, “Fifty-five percent of the voting power is taken up by European countries? How dare you think of that.”

“Actually, comparing it to the French proposition to abolish the U.S. veto, I don’t think the idea of having a conversation right now is so outrageous.” Callahan asked rhetorically, unperturbed, “It may be that this meeting, is not going to be able to come up with any consensus, and for the time being the continued use of the old international monetary system is not going to help.”