November 12, 2007 (LPAC)--British imperial columnist Sebastian Mallaby, in his regular Washington Post column today, promotes the very "private" global currency scheme that Lyndon LaRouche denounced last May as an "imperial oligarchical" scheme for a one-world monetary dictatorship.
Mallaby's column, entitled "The Dollar in Danger," starts with Nixon's (and George Shultz's) decoupling of the dollar from gold in 1971. Now the dollar is again vulnerable, and its days as a reserve currency are numbered, Mallaby writes. The last thing the world wants is dollar weakness, he says, pointing out that east Asians and oil states aren't about to start dumping dollars.
"Most economists assume that the dollar will continue to act as the global currency because there is no alternative," Mallaby concludes. "But one of my colleagues at the Council on Foreign Relations, Benn Steil, has proposed another option -- a privately created currency that would confer an inflation-proof claim on gold or a basket of commodities. Steil calls his idea 'digital gold,' which has a nice back-to-the-future ring. The more the dollar slides, the less Steil's suggestion sounds like a fantasy from a movie studio." Huh???
When Steil's proposal was first published in Foreign Affairs last May, LaRouche denounced it as dangerous folly. As we reported at the time, LaRouche described the Steil proposal for a "trilateral" division of a one-world monetary dictatorship as an attempt to revive the 'Persian Model' of a global empire, divided between regional powers. In the original Persian case, the proposal was for a division between an eastern and western empire. Now, LaRouche warned, the CFR is promoting a 'trilateral' division of the world, along precisely the Persian Model of imperial oligarchical rule. LaRouche drew the parallel to the Persian campaign to destroy Athens at the close of the Peloponnesian Wars and the present schemes, and also pointed to the parallels with the Venetian model of a private financier oligarchy ruling the world through control over debt and commerce.
