October 30, 2008 (LPAC) -- According to a source in New Delhi, the Manmohan Singh government has begun deliberations on the upcoming Global Financial Summit to be held in Washington Nov. 15. The source claims that it is unclear as of now what role India will play in this important meeting.

There are two issues on which Prime Minister Manmohan Singh has spoken his mind. One, India does not want the IMF to be strengthened. While the new financial system must have a global monitoring agency, it cannot be the IMF. But at the same time, India fears that powerful forces are pushing for the strengthening the IMF.

Secondly, the Indian prime minister has made clear that the new financial system must take into account the setting up of a global fund to carry out infrastructural development of the developing nations. Singh said that this was the role of the IMF when the Bretton Woods was set up, but that role was subsequently changed to become the financial watchdog.

According to this source, India will not use the Nov. 15 meeting to press any of these issues, and instead, it would watch the development and prepare for the next meeting where it would present its proposals. New Delhi believes the Chinese would act the same way.

The problem with this action, or lack of it, as Lyndon LaRouche pointed out, is that India, instead of acting decisively now, is looking for a diplomatic consensus, which is equivalent to committing suicide.

"You get to the situation where, either you do certain things, or you go down," he said. "They're still oriented to the idea that you're going to have a diplomatic agreement, and that whoever forces the agreement through is going to win. That's crap! If they don't do what they should do, which I've specified, they all lose!"