Fireside Chat with Michael Steger, July 26, 2018
In August of 1971, the oligarchy succeeded in finally destroying the Bretton Woods monetary system, created by Franklin Roosevelt, bastardized by Harry Truman, but nonetheless a basis for stable trade between nation states. What came in its wake was the free trade system favored by the City of London, in which price has no relation to the actual cost of production. Rather, as Milton Friedman argued, price theory evolves from the black market or the drug market –it is whatever monetary price the "invisible hand" of the City of London banking apparatus can extract. Commodities can then be "valued" by manipulation of popular opinion and culture rather than their role in advancing and sustaining life.
As the world explores returning to the type of full set economies advocated by LaRouche, it is now time to create a stable basis for trade in which terms of trade are set on the basis of LaRouche's measures for potential relative population density – the clear implication of a Westphalian model for international relations. Making LaRouche's third and fourth laws the premise of any new system now will allow the U.S. and the world to survive the transition from the now bankrupt City of London/Wall Street system to a new economic platform of constant progressive change to higher orders of activity. Join us for tonight's discussion.