What would Monday morning bring? It was the deadliest civil weekend in the US with more than 28,000 Americans killed by police and civilians defending their shops and homes.
The President addressed the nation at 9am to plead to workers to go to their jobs. He demanded of business owners to open them up.
“We are very close to a fix on this to get the country back. We need our businesses to get back to work. You will be paid. The full credit of the US government stands behind you.”
At a secret global central bankers meeting held at the Greenbrier in the Allegheny Mountains of West Virginia, G-20 finance ministers and the heads of the International Monetary Fund, The World Bank, the Asian Infrastructure Investment Bank were beginning to arrive.
The first order of business for many was let’s get rid of the US dollar as the world’s defacto currency. many Asian countries wanted a basket of currencies and gold to be the reserve currency.
Treasury Secretary Jack Lew knew that no solution was going to come out quickly if the agenda was to cripple and punish the US by rethinking every aspect of global monetary policy.
Taking the measure of the room, Lew suggested that now was not the time to come up with a new Bretton Woods Agreement (which took the US of the gold standard in 1971).
“People are dying. People are ruined. we need to get this banking system back as soon as possible, then we can look to retool the system.”
An US educated Chinese finance minister told Lew. “We are not going to play ‘You broke it, now you fix it.'” He continued “In the immoral words of Rahm Emanuel “You never want a serious crisis to go to waste. And I meant the word immoral.”
Lew reported back to the White House, “We are in trouble.”
The White House and Congress began devising a WPA-style massive infrastructure program to get American back to work. The Work Projects Administration as it was ultimately called was FDR’s answer to the Great Depression’s joblessness, by building huge projects like the Hoover Dam, The Lincoln Tunnel and the Overseas Highway connecting Miami to Key West are but a few of the many projects undertaken during the depression.
It became apparent by the afternoon session that the talks were not going to be very productive. Nationalism was the tact every nation was taking. Even EU members could not agree, with Germany feeling it should have the biggest say on how the ECB should react.
“If everything is on the table right now, by the time we hammer out an agreement, civilization will be back to the stone age,” said a Japanese finance minister.
At the end of the first day nothing had been accomplished save for the fact that the Greenbrier staff realized they had many more vegans staying at the hotel than they thought.
“Blessed are the tofu eaters, for they shall inherit the Earth,” a stout German banker was heard to utter.