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This editorial appears in the November 7, 2008 issue of Executive Intelligence Review.

The November Turning Point

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Deliberations are ongoing throughout the world on the Nov. 15 summit in Washington, D.C., whose agenda is announced to be a discussion of principles to reform the bankrupt world monetary system. At present, the prospects look murky, at best.

Informed banking sources in locations such as Paris and elsewhere, are saying they fear utter disaster come Nov. 17, the first trading day after the summit. If nothing comes out of that summit, there will be nothing to stem the outbreak of panic, and a stunningly steep decline toward total financial and economic chaos. Given that the idiot-President Bush himself will be presiding over the summit, it is hard to argue for any optimism that the results of its discussions will, in fact, be of any use.

Yet, those concerned with saving humanity from a New Dark Age, must proceed from a larger reality than the state of political disarray and degradation in the governments of the 20 nations that are attending the summit. In fact, there is no alternative for humanity's future, without the coalescing of the world's leading nations—beginning with the United States, Russia, China, and India—around the one workable set of proposals for a new, just monetary system—Lyndon LaRouche's New Bretton Woods.

Fortunately, LaRouche's associates are on full mobilization to educate, and pressure, leading circles in all these nations to take the appropriate action. LaRouche's recent report, published in the last EIR—"A New Dark Age Is Now Near: Today's Brutish Imperialism"—is being translated into relevant languages, and circulated among policymakers internationally. Given LaRouche's unprecedented credibility globally, as a result of his unparalleled record in forecasting the current breakdown crisis, there is no question that his analysis will be closely studied. The question is, whether leading circles are ready to take action, and in time.

Most crucial, as LaRouche has stressed, is what action the Russian government is prepared to take. President Medvedev will be coming to Washington, and he has already hosted a series of discussions on the crisis, during which he clearly recognized the seriousness of the situation, but avoided direct confrontation with the Anglo-Dutch imperial model and the need to bury it. However, the density of discussion of LaRouche's proposals in the Russian media, along with Prime Minister Putin's consistent attention to saving the physical economy in Russia, reflect the fact that there is openness toward LaRouche's proposals.

This fact is key. If the necessary steps toward saving the world from financial catastrophe are going to be taken, there must first be agreement between Russia and the United States on the principles of the new system. Only after Russia moves in this direction, will China—which is reeling from the current financial disintegration—feel confident to do the same. Next in line would be India, which is clear about the need to dump the IMF and to insist upon large infrastructure projects for the Third World, but has reportedly decided not to press the issue at the Nov. 15 meeting—a big mistake.

The clock is ticking. Initial steps toward the principles LaRouche has laid out—starting with these governments agreeing to freeze the quadrillions of dollars of unpayable speculative debt—have got to be taken in the few weeks ahead. Real political leaders in the United States have to join LaRouche in achieving this outcome, as difficult and dangerous as it seems. The future of humanity demands no less.

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