March 17, 2023—“[T]he world monetary financial system is actually now currently in the process of disintegrating. There’s nothing mysterious about this; I’ve talked about it for some time, it’s been in progress, it’s not abating. What’s listed as stock values and market values in the financial markets internationally is bunk! These are purely fictitious beliefs. There’s no truth to it; the fakery is enormous. There is no possibility of a non-collapse of the present financial system—none! It’s finished, now! The present financial system can not continue to exist under any circumstances, under any Presidency, under any leadership, or any leadership of nations. Only a fundamental and sudden change in the world monetary financial system will prevent a general, immediate chain-reaction type of collapse. At what speed we don’t know, but it will go on, and it will be unstoppable!”
That was Lyndon LaRouche, July 25, 2007. Is that message delivered nearly sixteen years ago, out of date? Was it erroneous? “LaRouche keeps saying that the system will collapse, but it never does. He’s been saying that in one form or another for the past fifty years. It never happened.” So, LaRouche, the economic forecaster, was often suppressed, including through incarceration for five years, 1989-94. Helga Zepp-LaRouche, however, in her March 14 statement, “Call for an International Emergency Conference To Reorganize the Bankrupt Financial System” pointed out that “given the extreme over-indebtedness of the financial system coupled with a derivatives exposure of two quadrillion dollars, the ‘Everything Bubble’ is threatened with the fate of what Wall Street guru Bill Gross compared to a supernova—a bright shining star that suddenly burns out.”
Like an astronomer, Lyndon LaRouche had foreseen the supernova, knowing that the explosion “now underway” actually occurred much earlier, and was the product of events from now over a half-century ago—for example, August 15, 1971, when the dollar was taken off the gold standard, and the Bretton Woods system was ended. (There were even events that had occurred before that, as early as 1957, which had prompted LaRouche’s economic forecasts.)
Those that rejected LaRouche through the decades, and that reject him now—though thinkers in China, Russia, India and elsewhere do not—will fail to see, now, the narrow pathway forward through which disaster could be prevented, through a call for a “global Glass-Steagall movement.” With the political mass strike that has taken to the streets in France, the Netherlands, Germany, and even faintly but meaningfully in the United States, if such a call were raised right now, starting with the Congress of the United States, it is possible that the growing and spreading correct loss of confidence in, not only the financial, but the political character of the system would allow a breakthrough, even despite the banking and intelligence lobbies that dominate the Congress, even despite the Congress itself.
Glass-Steagall, however, is not enough. It would never work on its own, without China, Russia, India, and others, because no nation, including the United States, can reverse the supernova explosion. That is, after all, what LaRouche warned 15 years ago. Instead, these actions, wherever they occur, must be subsumed in a drive to implement, through a series of conferences, including an emergency conference to reorganize the system, the several initiatives that have been most clearly called for by the Chinese government, and that can be adapted by any government for their national application. They are the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative.
