Financial System in Crisis: Coming Weeks Can See Big Changes

August 14, 2018
Members of the North Atlantic Treaty Organization pose for the Family Photo | July 11, 2018 (Official White House Photo by Shealah Craighead)
Members of the North Atlantic Treaty Organization pose for the Family Photo | July 11, 2018 (Official White House Photo by Shealah Craighead)

The immediate weeks ahead can see very dramatic changes if there is an all-out push to defend Donald Trump's presidency from the three years' British intelligence attack, and to push the United States into the Belt and Road Initiative and its great projects of infrastructure. This can succeed. It means a battle to disable the Democratic National Committee's impeachment plan — demanded in the London media since the day Trump was inaugurated — before it can be launched. And it means defeating the British dogmas of superpower confrontation and free trade, still infecting the whole Congress and circles around the President.

First, between now and Aug. 28, when former Justice Department Number-Four Bruce Ohr is subpoenaed to testify before two House Committees, the scandal of "Mueller-gate" can fully explode. This is the scandal proclaimed by the President's lawyer Rudy Giuliani, the scandal of the McCarthyite "investigation worse than the (non-)crime" of wanting U.S. relations with Russia. As information comes out about Ohr's central role in the scandal, the potential of what a full declassification would expose, comes into view. Senior British MI6 officer Christopher Steele, in constant collaboration with the DoJ through Ohr long after the FBI supposedly broke contact with Steele, is now revealed to have warned of "disastrous consequences" for British intelligence's anti-Trump campaign if Ohr had been fired when his superior Sally Yates was.

As Congressional Committees hone in on the Ohr-Steele collaboration and the role of the MI6-Brennan CIA collaboration already stands exposed, the American public can be roused to stop the obvious British drive to eliminate yet another American President feared by London.

EIR's new attack on the British smell of this scandal, author Barbara Boyd's article "The Fish Stinks from the Head," has to be mass-circulated through Internet and social media, as well as to the Congress, between now and the 28th.

At the same time, the trans-Atlantic financial system is threatened with exploding in the immediate future. Against the backdrop of an immense bubble of corporate debt, most of it officially ranked junk or just one rung above junk, a number of major currencies are suddenly plunging dramatically, pushing large chunks of that debt into default in coming months and immediately threatening London-centered megabanks. Sanctions and punitive tariffs are contributing to the crisis. Among the falling currencies is the Russian ruble.

There is no preventing this general financial crisis by expecting those countries to raise interest rates beyond usury, or decimate their government services, or go to the failed IMF. The solution was fully described by EIR Founding Editor Lyndon LaRouche for years before the last global financial crash. It means an immediate agreement among, today, the BRICS nations and the United States for a new Bretton Woods monetary system with fixed exchange rates and joint credit agreements to foster capital goods exports and infrastructure projects.

Helga LaRouche noted today that the international order as it used to be, is disintegrating, and the "high ground" is Lyndon LaRouche's long record of specifying a New Bretton Woods system to foster productive credit issuance, and "four laws" for economic recovery starting with Glass-Steagall.

Third, a wide path for the Trump Presidency into collaboration with the Belt and Road Initiative of China, has been opened by Texas Congressional candidate Kesha Rogers' proposal of a "North American Belt and Road Initiative (NABRI)" of the United States and Mexico collaborating with China, which is already amidst new infrastructure projects all over Ibero-America.

Trump is in good discussions with Mexico's President-elect, who has made his own proposals to Trump for collaboration on rail and power infrastructure projects across the border and into Central America. Trump is still predicting good U.S. economic relations with China, right up to his Aug. 7 dinner with American businessmen. His comments on China appear to have been directly misreported in an inflammatory manner by the leading capital newspaper The Hill, indicating desperation to prevent Trump's collaboration with his good friend, President Xi Jinping. But candidate Kesha Rogers' "NABRI" proposal can make it happen if it gets national support.

Fourth, the Democratic Party leadership is watching uncomfortably as sections of the reviving labor movement give qualified political support to the President. Some of its primaries around the country are being won by candidates of the left wing of the Party, for whom the DNC's impeachment drive against President Trump is not a priority. They want to defeat free trade and Wall Street speculation.

LaRouche's "four laws," a Belt and Road initiative, and a New Bretton Woods monetary system, are the only means to do that.