No [encounters with demonstrators] will take place in Watford this week, as the Bilderberg, the annual conference for 140 of the world's most powerful, meet for four days at The Grove, a 300-a-night golf hotel. The entire hotel has been booked out, and a high fence erected around the exclusion zone. Armed checkpoints have been set up on local roads, and locals must show their passports to enter their own driveways. The Bilderberg was founded in 1954 ... at the Bilderberg Hotel, near Arnhem. Prince Bernhard of the Netherlands was the chair. In that first meeting, the participants ... debated the Communist threat and the prospect of European integration. Publicly, the group says it is still merely a debating society - a forum for leaders to listen, reflect and gather insights" unbound by official policy positions. But while they rankle at the conspiracy theorists, former leaders of the Bilderberg conferences says they were the most important events they ever went to, and the freedom of speaking away from the ears of Whitehall officials meant the discussions that took place decisively shaped modern Europe. On the agenda is economic growth, big data, Africa, medical research and the rise of cyber warfare. The future of the welfare state is likely to be discussed, as one topic is titled "jobs, entitlement and debt". Another session is called simply "current affairs".