As a foundation for this new world order, Mr Priestland is hoping for a new Bretton Woods-style agreement one that would regulate international capital movements and thus tame the power of the bond markets.

ECONOMIST: A history of power

With the stock market losing approximately half its value in 17 months, talk is rampant about how best to regulate businesses and capital markets to prevent future financial crises.

FORBES: Intelligent Investing Briefing Book

But an angry, spiteful Roosevelt decided to create a committee of wise public servants who would regulate the system and provide capital as needed. (He wouldn't be the last to do so.) He set the wheels in motion and, five years later, the Fed was born.

FORBES: Commentary

Regulate them, starve them of capital and places to develop resources and we will see wild supply swings and price fluctuations.

ECONOMIST: Developing solutions

We have yet to complete the reforms needed to raise capital standards, improve liquidity, reform the securitisation process and regulate the OTC derivatives market.

ECONOMIST: Letters