From Volume 3, Issue Number 52 of EIR Online, Published Dec. 28, 2004

Global Financial Firestorm Poses Choice: LaRouche's Plan or Fascism
by L. Wolfe

Dec. 24 (EIRNS)—As President George W. Bush retreats from reality to the safety of his "bunker" in Camp David, the mother of all financial firestorms is about to engulf the world's financial system. Warnings from European commentators of a likely financial Armageddon stand in stark contrast to the mumbled Presidential assurances at the most recent Bush press conference that all is well with the U.S. and world economies, and that the "recovery" is growing stronger. While the fool Bush might believe such drivel, at least some of his advisors, and many of his controllers, clearly do not; that is what lies behind their rush to steal the trillions in the Social Security Trust Fund, diverting those funds to maintain the bubbles in the equity markets.

At the end of the day, such tricks will no longer work. As the world's leading economist, Lyndon LaRouche, has repeatedly warned, the dollar-based financial system is too far gone for saving. Instead, the issue becomes who will control what comes after the system's near-term collapse. If the people on top now—the same Synarchist banking and financial networks that put Adolf Hitler in power when faced with a similar, but lesser, crisis in the 1929-33 period—have their way, then the months ahead will see a virtual global fascist dictatorship, implemented by central bankers demanding the imposition of austerity measures so severe that they can only be enforced by Hitler-like police-state regimes.

But that assumes that populations and their goverments will accept such diktats from bankers, whose policies have brought this ruin upon us all.

Resistance Grows

In recent published writings, and in radio and other interviews, LaRouche points to the growing resistance to this global fascist austerity drive as the key to shaping a different alternative. Such resistance can be seen in France, where the Assembly, backed by trade unions, shows the stirrings of rebellion against outsourcing and austerity measures; in Italy, where the trade unions are mobilized against cuts in social programs; in Germany, where this past fall saw large demonstrations against the banker-dictated "Hartz IV" austerity program. And, it can be seen in the U.S., in the twin mobilizations, led by the LaRouche movement, against the legitimacy of the Bush election, and against Bush's proposal to heist the Social Security Trust Funds for Wall Street (for related articles, see pp. 1 and 7).

While none of this resistance has yet risen to levels that will derail the fascist austerity drive, the potential is clearly there, and LaRouche intends to make sure it is realized. He has made clear that the resistance, if it is to win, must be given a programmatic content that will replace the current oligarchically controlled financial order with a New Bretton Woods monetary system, as the lynchpin for a global program for an infrastructure-driven, industrially based world economic recovery.

LaRouche has also noted that the proposed bankers' fascist world order would crush existing and emerging sovereign nation-states, and as a consequence, there will arise resistance from many of these nations. The ongoing battle of Argentina and its President, Nestor Kirchner, against the International Monetary Fund (IMF) exposes the weakness of the bankers' thug operations, encouraging other sovereign governments to resist the bankrupt IMF's orders.

Sovereign Nations Threatened

Potentially more important are the warnings coming from Asia that it won't be pushed around by the United States. Both Japan and China, for example, hold huge dollar reserves; should they start to liquidate them, or even merely refuse to continue sopping up the huge U.S. debt created by its disastrous current accounts deficit (now at a record $165 billion: we import far more than we export), then the system collapses then and there.

In order to keep it afloat, the U.S. must daily "import" $2 billion from foreign sources into its financial markets, merely to finance the U.S. government debt! As LaRouche explained in a Dec. 16 radio interview, that flow is now drying up; hence, the desperation for the Bush crowd to heist the Social Security funds.

So far, Japan and China are merely threatening, but that's enough to send shivers down the spines of many bankers.

Russia too is positioning itself. President Putin has been working on putting together a strategic alliance between Russia, India, and China, to counter the insanity coming from Washington. Putin's efforts represent LaRouche's "Strategic Triangle," which also could become an engine for a global recovery around the Eurasian Land-Bridge infrastructure project.

The Game Is Over

In the end, however, nothing can keep this game going much longer. In Europe, people are already being conditioned to prepare for the collapse. The stream of financial commentaries, some motivated by sheer panic about what is developing, contributes to preparing people for disaster; since much of those commentaries focus on the dismal state of U.S. policy and our economy, the effect is to blame on the Americans for the disaster to come. This, in turn, is intended to give greater leverage to the European bankers in any post-crash reorganization,

A Dec. 9 BBC 2 docudrama, "The Man Who Broke Britain," featuring a scenario for a global financial blowout caused by a collapse of the derivatives markets, mirrors much of the risk-contingency planning known to be taking place at major financial institutions. Whatever the other reasons for the broadcast in a widely viewed timeslot, the show tends to feed a view that what is wrong with the current unregulated, speculative world system is that it is unregulated. But, as LaRouche has been saying, the problem is not just that, and can not be solved by merely re-regulating the markets, although that is a component of a solution.

The only way out of the current fast-approaching blowout—the only way that defeats the bankers' proposed fascist solution—is to completely reorient the social and economic parameters to restore the values of the industrial-production paradigm that have been destroyed over the last 35-40 years. That is the "LaRouche program," with its featured large global infrastructure projects, which have gained increasingly widespread support in the recent period—including in the United States, which must take responsibility for organizing a worldwide recovery, if there is to be one.

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