January 21, 2008 (LPAC)-- Former presidential candidate and chairman of the LaRouche-linked Solidarité & Progrès party, Jacques Cheminade, issued the following statement on January 21, upon hearing the news of the collapse of world stock-markets:

"What I have forecast for a long time is now happening on the world financial markets. What will happen will be far worse, if the necessary measures are not implemented.

"The time has come to defend the incomes and purchasing power of our citizens with an emergency firewall system, and to call for an international meeting among heads of governments of major countries to negotiate a new Bretton Woods. One must act immediately, without any regard of current agreements that could withhold our intervention.

"The essential thing that must be secured is the nation's physical capital--its production capacity and social infrastructure. All the rest is secondary."