By Harley Schlanger
The G7 nations engaged in a three-ring circus of obfuscation, while demonstrating a convincing display of their institutional policy bankruptcy, at their August 24-26 summit in Biarritz, France, where they sidestepped discussion of the real issues facing humanity, by avoiding any discussion of the single, defining matter before mankind: The irreversible bankruptcy of the entire London-run trans-Atlantic financial system. While the circus was underway in Biarritz, the real agenda was presented quietly, without much fanfare or publicity, in Jackson Hole, Wyoming, on August 22-24. There, at the annual meeting convened by the Kansas City Federal Reserve, a gang of central bankers and other financial swindlers called for a “regime change in monetary policy”, in a desperate attempt to keep their empire intact. As described by the Schiller Institute President Helga Zepp-LaRouche, “The real story is that the Jackson Hole meeting declared a coup, what they themselves call a ‘regime change in monetary policy’. They are openly demanding the issuance, by Central Banks, of ‘helicopter money,’ which would basically eliminate the last aspects of national sovereignty of governments, by giving the authority to the central banks to directly pump fiat money both into official state, but also private channels—and naturally, this is also supposed to all finance the Green Deal.”
Zepp-LaRouche reminded listeners that her late husband, Lyndon LaRouche, in a famous December 1971 public debate with the prominent liberal economist Abba Lerner at Queens College in New York City, demolished Lerner, by forcing him to admit that he thought Hjalmar Schacht’s policy of opening the floodgates for the financing of the Nazi war machine, was the correct policy—and that if other politicians had only done what Schacht advocated, Hitler would not have been “necessary.” Schacht served as Hitler’s Minister of Finance, and had the full support of Bank of England Chair Montague Norman, and American bankers Roland Harriman and Prescott Bush, the father of former President George H.W. Bush.
There were three specific proposals put forward in the last days which elaborate this intent:
1.) Bank of England Governor Mark Carney proposed, at Jackson Hole, the adoption of a “Synthetic Hegemonic Currency”, a “virtual” currency to replace the dollar, to be issued with no constraints by Central Bankers. This would allow them to go far beyond Quantitative Easing (QE), zero interest rates and negative rates, to provide unlimited liquidity to bail out the worthless derivative and other speculative instruments, held on the books of the largest banks and financial institutions—as well as by central banks—to keep them at face value, so they could continue to be traded. He specified that a virtual currency is needed, one with no connection to anything which is “physical”;
2.) A proposal from four economists from central banks, issued by Black Rock, which called for moving from “unconventional monetary policy [e.g., QE] to unprecedented policy coordination” by the central banks. The call is for merging monetary policy, the domain of central banks, with fiscal policy, i.e., government budgetary spending. This would mean that all functions of government would be in the hands of central bankers, a “Committee of Experts”, which would decide the volumes of credit created, and where it would go. The credit would go obviously mainly to speculators, leading to an accelerated deindustrialization of advanced sector nations. This Committee would have the power to “put on the brakes” if they saw hyperinflation coming. One opponent of this plan asked if these “Experts” would be the same ones responsible for the Crash of 2008, and the post-Crash policy of bailing out bankrupt financial institutions, while starving productive sectors of credit. This plan is a straight-forward call for establishing a Global Banker’s Dictatorship;
3.) A global Green Financial Initiative (GFI), which would channel all credit to so-called green technologies, to “decarbonize” the global economy, is central to these scams. The GFI has the backing of leading City of London and Wall Street bankers, and is based on the fraudulent science behind “man-made climate change”. It would further escalate not only deindustrialization, but attacks on mechanized agriculture, use of automobiles and airplanes, etc. A prototype of this plan was presented by presidential candidate Bernie Sanders, who called for $17.8 trillion in spending over ten years, to dismantle the energy and wealth-producing sectors of the U.S. economy, while funding “sustainable” boondoggles.
These proposals are nothing but a new-fangled version of the same Schachtian hyperinflationary bailout of their bankrupt financial system—which has the same political attributes today as it did then, and can correctly by called by its real name, fascism. Such a “regime change”, which would further dismantle industry and manufacturing while funding inefficient “alternative” energy schemes, and would impose drastic austerity on the majority of people, to protect the financial swindlers who have created the world’s largest debt bubble, and allow them to expand it!
This “old world order” is rapidly going under, to the point where even London outlets such as the Guardian are forced to admit that the G7 “meeting left little trace it had ever happened … but there was a distinct sense of the established order being given its last rites.” However, the architects and advocates of that old order are incapable of creating a new one that works for the human race. Instead, they are dragging the world down into the maelstrom of fascist Green policies—into a bottomless Jackson Hole!
This is seen in the latest developments in Italy, where the British and their allies are attempting to consolidate a Green coup d’état, installing a government which is committed to “a paradigm change on environment, a 100% renewable country,” to replace the pro-sovereignty party, the Lega, which is gaining popularity as it attacks the incompetence and idiocy of the bureaucrats of the European Union in Brussels. It is also seen half-way around the planet in the Amazon region, where the banker’s puppet, French President Macron, is spearheading a lying, Green international media and social networks campaign to trample on Brazilian sovereignty in order to “help” them deal with Amazon fires.
In light of this overriding strategic reality, Zepp-LaRouche criticized those in the U.S. and Europe who propose to continue on the course of confrontation with China and Russia. “This is really wrong,” she stated. “There is absolutely no problem in the field of strategic questions which can be solved without Russia; and there is not one economic problem which can be solved, especially with this looming financial crash and hyperinflation, without China”—which is, after all, the only engine of actual physical economic growth in the world today. President Trump is absolutely correct to call for reinstating Russia into the G8, which otherwise is nothing but a clown show, creating noise and disturbances, while the globalist bankers proceed with their plans to create a new fascist world order.
A Bloomberg opinion page piece by former NY Federal Reserve Chair, William Dudley, issues a sharp threat that, given the failure of the Mueller Russiagate witch-hunt to remove President Trump, the central bankers must be prepared to pull the plug on the economy, to bring him down. Dudley wrote that Federal Reserve officials face a choice: to either “enable the Trump administration to continue down a dangerous path of trade war escalations, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks—including the risk of losing the next election.” He is openly advocating that the Federal Reserve act in support of a regime change coup against the President!
In response to these swindling schemes, and the threat issued by Dudley, LaRouchePAC issued a statement, “The Alternative to a Catastrophic Crash,” which begins:
“If a new financial crash, worse than 2008, strikes, say, this Fall, or during 2020, the President will have to rely on the energetic mobilization of the US citizenry, to stampede Congress into immediate passage of emergency recovery legislation rather than bank bailouts. Congressmen will have to taste the fear of God, to the point that they will just forget about their Wall Street campaign contributions and special interests.”
Join us to defeat these swindlers, and their operatives among elected officials in both parties, and their accomplices in the mainstream media. Implementing LaRouche’s Four Laws will enforce the orderly bankruptcy of these bankrupt financial institutions, and instead allow the introduction of cheap credit to producers, especially in small and medium enterprises, which can uniquely revive the American System of Physical Economy.