Draghi Falls; Who’s Next? More Importantly: What’s Next?By Gretchen Small
July 14—The second most pro-NATO head of state in Europe was forced to resign this Thursday, when his government coalition fell apart in the face of exploding anger in the population against his policies of war and austerity. Italians took to the streets en masse, waving the national flag, to celebrate Mario Draghi’s fall.
Draghi was never a politician, only a hatchet man carrying out his promise to do “whatever it takes” to defend the British Crown and its financiers throughout his career. This Director General of the Italian Treasury who sold out Italy in the 1992 Britannia yacht conspiracy; this Goldman Sachs speculator; this “quantitative easing” former head of the European Central Bank turned Prime Minister enforcing NATO’s war and sanctions, personifies the European Union “speculators first!” policy which devastated families, industries, farms, and communities across Europe for decades.
It is the same policy which the City of London and Wall Street have been imposing on the United States as well.
Former Russian President Dmitry Medvedev situated Draghi’s resignation appropriately. He posted to his Telegram channel a tryptic of pictures: Boris Johnson, Mario Draghi, and an unknown shadow wearing a question mark.
Mario Draghi’s policies are the same European Union policies which Dutch farmers are opposing with determination and creativity, driving their tractors, adorned with biting, humorous couplets, in long columns down highways and into the cities, spraying manure on police and politicians’ homes when appropriate, blockading food distribution centers, demanding the financiers’ policies and any government which implements them be thrown out. German farmers are now joining their ranks, rolling out their tractors in their support. This is new: joint Dutch-German protests against the EU policy of “finance capital before all.” Like Draghi’s fall, such actions will embolden others in Europe—and, soon enough, in the United States.
Similarly, worldwide, the treasonous, imperial, and, in fact, un American, United States crafted out of the U.S.-U.K. “Special Relationship” known as “British brains and American brawn,” is no longer seen as the all-powerful hegemon. India’s central bank announced on Monday that international trade financed in rupees is now allowed. The London dollar is no longer king.
President Biden is presently in Southwest Asia, with the intent, as he and his advisors have said repeatedly without embarrassment, to show that the U.S. is still powerful, in order to counter growing Russian and Chinese presence in that region. U.S., Chinese, and regional observers are all skeptical of the prospects for his reported intention to get the ball rolling this Saturday on the formation of an anti-Iran “Middle East NATO” military alliance of the U.S., the Gulf States, and Israel (with Saudi Arabia agreeing to pump out more oil in the process).
This shifting, new global reality is captured on the cover of the latest issue of Harper’s magazine, the second oldest magazine in the United States: its headline is “The American Century Is Over.” The “American Century” was the mantra of the Anglophile Wall Street faction dedicated to the treasonous “Special Relationship” between the U.S. and the U.K.
The fight is now to determine what will replace that stinking Wall Street-London system.
Draghi, for example, is out; but will he himself, or a new “Draghi” come back as the next Italian government? Which government will fall next? The government of Sri Lanka has fallen, with no replacement visible. What government could function under the conditions of total economic breakdown, where there is no fuel, no medicine, no food available for the people? And where the IMF demands more austerity?
More than who will replace these governments, the question now is: Around what principles can the sovereign nations of the world join together to establish the new system of international relations, finance and economy under which societies and human beings flourish?
Steps toward a new system are being made, but so far only piecemeal. Russia is demonstrating that the principle of trading commodities between nations on the basis of long-term contracts at fixed prices, eliminating the speculative market, works to the mutual benefit of producer and consumer. China is encouraging, facilitating, and coordinating great regional infrastructure projects between nations around the planet around its Belt and Road Initiative.
But these steps, as important as they are, will not secure survival. The cascading economic breakdown of the Trans-Atlantic region and huge chunks of the developing sector must be stopped. Peace will only be secured, and the high rate of economic growth and scientific progress required to eradicate the oligarchic speculative system and its devastation attained, with an entirely new international system. Designing the principles required for such a system to work was the specialty of American statesman and physical economist, Lyndon LaRouche, who wrote volumes on that subject. One place to start, is reading his remarkable 1975 document, “IDB: How the International Development Bank Will Work.” The core principles of the work were recently republished in Executive Intelligence Review; we recommend you study them.
The principles outlined by LaRouche there and in a multitude of other writings, are summarized in the eight measures outlined in the petition being circulated internationally by the Schiller Institute: “Call for an Ad-hoc Committee for a New Bretton Woods System.” Its starting point is the basic principle: “We must make people the priority of the economy… The new economic order must guarantee the inalienable rights of all people on Earth.”