All about are evidences of the frustration of the political means of attainment. Every political project is stalemated. Governments that have failed in their respective sovereign spheres pursue the folly of internationalizing their problems.

Typical of this is the Bretton Woods effort to stabilize the various political monetary units—for the destabilization of which each of the participating governments is to blame. Here we have the spectacle of the perpetrators of destabilization posing as the proponents of stabilization, whereas it is but an international league of counterfeiters for the purpose of establishing standards of counterfeiting practice.

"Fundamental disequilibrium" (FD) is a phrase used in the protocol, and it means out of bounds. A certain tolerance is extended by the fraternity to any straying member, but a fundamental disequilibrium may result in expulsion from the lodge. FD means that the member has been issuing counterfeit out of ratio to the practice prevailing among the brothers, and, thus, has disturbed the relativity of the currencies of the brotherhood. For instance, if the prevailing watering of the currencies with counterfeit is fifty per cent, all members are honor-bound (sic)to try to stay within this ratio so as to maintain parity of debasement.

In fact, this scheme requires counterfeiting. If a member refrained from it, its currency would rise out of bounds with respect to the others, and thus it would be guilty of FD. Counterfeiting is recognized as a prerogative of all members, provided they counterfeit only the currency of their own nationals. But if the league is to hold together and the racket is to be preserved, the standards of practice must be respected.

This is another political effort wrong in principle and infeasible in practice. First, the participants must agree on parities before the freezing, called stabilization, can begin. But troubled waters do not freeze, and there is no calm in prospect. Even if it should ever get started, it would be doomed to fall apart, because standards of malpractice are difficult to maintain.