Monday, July 13, 2020

The Great Reset - Preparing for the Post-Pandemic Reality

Since the declaration of the SARS-CoV-2 pandemic on March 11, 2020, for some reason, I've felt like I am part of a massive social/economic experiment.  As you will see, perhaps my feelings haven't been entirely unjustified.  In advance, I would like to apologize for the length of this posting but I wanted to ensure that my readers have access to a wide variety of background on what our post-pandemic future will look like.

Here is an article that appeared on the International Monetary Fund's Blog page in mid-June 2020:



Note the use of the words "Global Economic Reset".  


Now, let's look at quotes from a speech given by Kristalina Georgieva, the Managing Director of the IMF, on June 3, 2020:


"My thanks to His Royal Highness the Prince of Wales and to Professor Schwab for bringing us together.


Now is the time to think of what history would say about this crisis. And now is the time for all of us to define our own role. 


Will historians look back and say this was the moment of a Great Reversal? Today, we see very worrying signs.


One hundred and seventy countries are going to finish this year with a smaller economy than at the start of the year, and we already project that there will be more debt, bigger deficits, and more unemployment. And there is a very high risk of more inequality and more poverty. 


Unless we act.


So, what would it take for historians to look back at this crisis as the moment of a Great Reset?


From the perspective of the IMF, we have seen a massive injection of fiscal stimulus to help countries deal with this crisis, and to shift gears for growth to return. It is of paramount importance that this growth should lead to a greener, smarter, fairer world in the future. 


It is possible to do this. Provided that we concentrate on the key elements of a recovery—and act now. We don’t need to wait.


At the IMF, we see some tremendous opportunities."


The three types of growth that are part of the IMF's Great Reset are as follows:


1.) Green Growth - governments using incentives for private and public investments that support low-carbon and climate-resilient growth.


2.) Smarter Growth - the digital sector has been a huge winner in the pandemic (think tracking etcetera) but has created a digital divide, causing some nations to fall behind.  Smarter growth needs to shrink this divide.


3.) Fairer Growth - the pandemic is deepening economic inequality, leaving many people even further behind than they were prior to the pandemic.


Here's one last quote from Georgieva's speech:


"So, now is the moment to step up—and use all the strength we have—to turn the page. In the case of the IMF we have a one trillion-dollar financial capacity and tremendous engagement on the policy side.


This is the moment to decide that history will look back on this as the Great Reset, not the Great Reversal. 


And I want to say—loud and clear—the best memorial we can build to those who have lost their lives in the pandemic is to build a world that is greener, smarter and fairer."


Now, just in case you think that the Great Reset is solely the idea of the International Monetary Fund, here is a video from the World Economic Forum from June 5, 2020 announcing the launch of the Great Reset:


Here is the World Economic Forum's Great Reset webpage:



Here is the context of the Great Reset according to the WEF:


"The Covid-19 crisis, and the political, economic and social disruptions it has caused, is fundamentally changing the traditional context for decision-making. The inconsistencies, inadequacies and contradictions of multiple systems –from health and financial to energy and education – are more exposed than ever amidst a global context of concern for lives, livelihoods and the planet. Leaders find themselves at a historic crossroads, managing short-term pressures against medium- and long-term uncertainties."


Here is the opportunity for the Great Reset according to the WEF:


"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."


In January 2021, a twin summit will be convened at the 51st World Economic Forum Annual Meeting  with the theme "The Great Reset" as shown here:



Here is a quote from the Great Reset "About" webpage:


"“The Great Reset” will be the theme of a unique twin summit to be convened by the World Economic Forum in January 2021. The 51st World Economic Forum Annual Meeting will bring together global leaders from government, business and civil society, and stakeholders from around the world in a unique configuration that includes both in-person and virtual dialogues.


“We only have one planet and we know that climate change could be the next global disaster with even more dramatic consequences for humankind. We have to decarbonize the economy in the short window still remaining and bring our thinking and behaviour once more into harmony with nature,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.


In order to secure our future and to prosper, we need to evolve our economic model and put people and planet at the heart of global value creation. If there is one critical lesson to learn from this crisis, it is that we need to put nature at the heart of how we operate. We simply can’t waste more time,” said HRH The Prince of Wales.


“The Great Reset is a welcome recognition that this human tragedy must be a wake-up call. We must build more equal, inclusive and sustainable economies and societies that are more resilient in the face of pandemics, climate change and the many other global changes we face,” said António Guterres, Secretary-General, United Nations, New York.


“A Great Reset is necessary to build a new social contract that honours the dignity of every human being,” added Schwab “The global health crisis has laid bare the unsustainability of our old system in terms of social cohesion, the lack of equal opportunities and inclusiveness. Nor can we turn our backs on the evils of racism and discrimination. We need to build into this new social contract our intergenerational responsibility to ensure that we live up to the expectations of young people.”


“COVID-19 has accelerated our transition into the age of the Fourth Industrial Revolution. We have to make sure that the new technologies in the digital, biological and physical world remain human-centred and serve society as a whole, providing everyone with fair access,” he said.


  • This global pandemic has also demonstrated again how interconnected we are. We have to restore a functioning system of smart global cooperation structured to address the challenges of the next 50 years. The Great Reset will require us to integrate all stakeholders of global society into a community of common interest, purpose and action,” said Schwab. “We need a change of mindset, moving from short-term to long-term thinking, moving from shareholder capitalism to stakeholder responsibility. Environmental, social and good governance have to be a measured part of corporate and governmental accountability,” he added." (all bolds are mine)

Don't you find it interesting that the future King of England is actually a part of this "resetting" process?


Here is a graphic showing the key aspects of "The Great Reset" and how they are interlinked:



Lastly, here is a little-noticed partnership that was struck between the World Economic Forum and the United Nations back in June 2019, long before the COVID-19 virus provided the setting necessary to implement this agreement:


Here is a list of focus areas for the new WEF - UN partnership:


Financing the 2030 Agenda – Mobilize systems and accelerate finance flows toward the 2030 Agenda and the UN Sustainable Development Goals, taking forward solutions to increase long-term SDG investments.


1.) Climate change – Achieve clear, measurable and public commitments from the private sector to reach carbon neutrality by 2050, help create public-private platforms in critical high-emitting sectors, and scale up the services required to adapt to the impacts of climate change.


2.) Health – Support countries achieve good health and well-being for all, within the context of the 2030 Agenda, focusing on key emerging global health threats that require stronger multistakeholder partnership and action.


3.) Digital cooperation – Meet the needs of the Fourth Industrial Revolution while seeking to advance global analysis, dialogue and standards for digital governance and digital inclusiveness.


4.) Gender equality and the empowerment of women – Foster multistakeholder partnerships and coalitions for full participation and equal opportunities of women at all levels of decision-making and for productive participation of women in the labour force, and promote equal pay for work of equal value across sectors and occupations as well as within them.


5.) Education and skills – Promote public-private partnerships to address global reskilling and lifelong learning for the future requirements for work, and empower youth with competencies for life and decent work.


Is it just me, or do these focus areas sound a lot like the focus areas promoted by the IMF for their "Great Reset" agenda?


Let's close with a couple of thoughts.  If there is one thing that we have learned from the COVID-19 pandemic (and September 11, 2001 before that), it's that governments and their dark lords never let a good crisis go to waste.  We have also learned that the changes that governments have implemented, particularly to our civil rights, during the pandemic (and after September 11, 2001) are not going away anytime soon.  Our way of life has changed dramatically and our IMF and WEF overlords will see that the world is "reset" in ways that benefit them and their insiders, despite the pronouncements that their solutions will see greater societal equality and a cleaner planet.  Only a fool would believe that this "Great Reset" is not, at least in part, designed to make the billionaire global oligarch class even wealthier than they already are. 


1 comment:

  1. Somehow one gets the feeling of the elites whistling in the dark and hoping something like the French Revolution and the Russian revolution combined does not erupt.