TYSONS CORNER, Va., Sept. 7 (EIRNS)--The following urgent call was issued over the weekend by a distinguished international group of former national presidents, current and former government officials, political leaders, and economists.
For a Union of Sovereign Nation States
The world is now faced with what could become very fast the worst financial crisis in world history. As the cases of some of the victims of the present global crisis demonstrate, chaos, hunger and epidemics cost innumerable lives and potentially threaten hundreds of millions, if not billions of people's existence. Since all the leading international financial institutions, led by the International Monetary Fund, failed to protect nations, their economies and their people, nothing less than a radical reorganization of the global financial system, will be sufficient to prevent an early, chain-reaction disintegration of the present international financial and monetary systems. Although this is not said publicly, within the corridors of discussion among leading circles in various important governments, and elsewhere, the need for such a radical reform, of some kind not yet defined, is now understood to be the only possible alternative to the presently ongoing, global, financial and monetary catastrophe.
The time has come, that some agency must introduce the discussion of the early design of such a radical reorganization.
The cornerstone for building any successful reorganization must be in the form of a new quality of partnership between the part of the world which is relatively most advanced technologically, and the part which represents the nations with the largest populations.
What is needed to this end, is the creation of a system whose leading features are akin to the pre-1959 period of the Bretton Woods system. The means required include the establishment of relatively fixed parities among national currencies, and just levels of price-stability among key commodities of international trade, primary commodities most emphatically. The objective is to generate large flows of long-term, low-cost credit for supplying needed machine-tool-design technologies and basic economic infrastructure into politically stable societies of the so-called developing sector. In such a new Bretton Woods system the voice of the developing countries must be equal to that of the industrial nations.
In such a partnership, the U.S.A. should play a key role from the side of the relatively more technologically advanced economies. On the other side, China and India are keystones for long-term, large-scale development of East, South, and Southeast Asia. Russia, presently an impoverished nation, but with precious machine-tool-design potential in its former scientific-military-industrial complex, is a crucial partner for both China and India, both in respect to Eurasian economic development as such, and for contributing to stability within the nation-states of Central Asia. Other countries, also from Africa and Latin America, hopefully can be grouped around this.
Such a reorganization will require the immediate write-off of tens of trillions of U.S. dollars nominal valuation of highly speculative financial assets, such as "derivatives," while stabilizing the medium- to long-term valuation, at arbitrarily low yields, of popular savings and agro-industrial and infrastructural capital assets. One must think in terms of a decade of management of partially "frozen" assets, as a period in which the world economy and its nations can build their way up out of the presently catastrophic financial situation.
The principles of such a new world economic order must include a complete rejection of geopolitics and technological apartheid. It must be based on the Inalienable Rights of All Peoples on the planet, which can only be protected if it's based on the principles of physical economy. Since it is only the creativity of the individual, and his or her ability to generate again and again scientific and technological progress, which is the basis of the wealth of nations, there must be free access to technology for all nations without exception, in order not to delay the possibility for development.
The design for the New World Economic Order should also include collaboration among such countries as the U.S., Russia, China, India, Pakistan and others, to develop a new version of the SDI-based technologies based on new physical principles and their application also in the civilian economy as a science driver to increase the productivity of the world economy.
The new world economic order must put to rest for ever all forms of imperialism, colonialism, and oligarchism, and, rather than looking at foreign policy as a long list of "mistakes" and "wrongdoings" of the other nations, it should be based on respect for the best cultural traditions of the others.
The universal history of mankind has reached a point, where we are all sitting in one boat: we face either a new Dark Age together, or a global new Renaissance. Let us therefore form a new alliance of sovereign nations with the aim to realize a just New World Economic Order in the near future.Endorsers: