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Conference Economics Panel Makes the Solutions to Breakdown Crisis Clear

June 18, 2022 (EIRNS)—The exciting “Runaway Inflation or Glass-Steagall” second panel of two-day Schiller Institute conference shone today with some 15 speakers who know what it takes to solve the current global economic breakdown crisis, and have been mobilizing others around those solutions. While a majority of the presenters are active in the United States, perhaps 500 activists watching live from all over the world were completely taken with the physical economic reality they represented, and called to have video clips: “This should go viral!”

Fittingly the panel started with a video excerpt from Lyndon LaRouche, speaking on Sept. 4, 1994, about how to generate credit, “trillions of dollars in projects” of new infrastructure, “trillions of dollars of work,” even in a breakdown crisis when most savings had been destroyed by financial collapse. That is the situation, clearly, facing this panel and the world now.

According to moderator Harley Schlanger, New York LaRouche Independent Senate candidate Diane Sare’s opponent, Sen. Chuck Schumer, did not respond to an invitation to make a presentation to the panel, which Sare keynoted. Schumer, who has bragged about Wall Street, “That’s my constituency,” was fortunate he declined, as Wall Street and the City of London banks had their feet on fire throughout.

Sare gave a dynamic presentation of the American System, presenting it in four great infrastructure achievements only possible through the national banking and scientific commitments which historically characterize the world’s leading economies. In America they were the Erie Canal which unified the early 19th-Century nation; the Trans-Continental Railroad which knit together the restored Union in the 1870s; the Tennessee Valley Authority, which was the world’s most transformational and famous infrastructure project, until ... the Apollo Project, history’s greatest new transportation corridor so far. Sare located the Erie Canal’s character in her own “mission impossible” campaign which recruited 200 volunteers around the Canal’s New York origin to clear the Senate ballot hurdle of 45,000 or more valid petition signatures, which no other candidate could do. And she then transitioned to lay out the most transformational current global infrastructure challenges, only possible by “American System” cooperation of China and America in the Belt and Road Initiative.

Sare welcomed Geoff Young of Kentucky, who has been running campaigns for a decade around the Glass-Steagall Act, “Abolish the CIA,” and won his Democratic Party Congressional primary this year in Kentucky’s 6th Congressional District by pledging “Unlike [Republican Rep.] Andy Barr, I will never vote to send billions of dollars to Nazis.” Young calls for the United States to “quit NATO” and “end all the permanent wars.” His race, like Sare’s, is now being watched nationally for showing that not all citizens are demoralized by economic collapse and government corruption and they will mobilize against Wall Street.

Eight farmer leaders from Indiana, Iowa, Kansas, Colorado and California, and Alaskan fishery operator Jim Moore called for restoring Glass-Steagall and breaking up the food conglomerates, as well as the biggest banks, or face mass hunger. Most aggressive about eliminating all concentrated finance from farming and speculation from banking was Colorado/Kansas rancher and local slaughter operator Mike Callicrate, who demanded an end to “the nonsense that America will feed the world—America can’t feed itself!” The farmers were introduced and coordinated by the Schiller Institute’s agriculture liaison Bob Baker.

Japan’s former Finance Ministry reorganizer of bankrupt banks and IMF Executive Director for Japan, Daisuke Kotegawa, followed with a demonstration that “It is difficult to deny the conclusion, Wall Street and the City of London are on the verge of bankruptcy,” and insisted that this time—unlike the history of City of London global swindles since 1985—the principles of bankruptcy reorganization be effectively used and “respect” for these arrogant and criminal bankers not get in the way.

This panel also featured the Italian economist Nino Galloni, former Executive Director of Italy’s Labor Ministry; Greek Ambassador ad honorem and Secretary General of the Black Sea Economic Cooperation Organization Leonidas Chrysanthopoulos; and Dr. Uwe Behrens, a logistics manager and author from Germany. Galloni, a long-time collaborator of Lyndon LaRouche who is an expert on the effects of globalization on the organization of pensions and labor compensation in both Europe and the developing sector, presented specific proposals for the revival of African agriculture. His objective is that in the context of the deliberate fracturing of the world economy by NATO’s suicidal sanctioning of Russia and China, an opportunity is presented to end globalization and restore the American System of national economy on LaRouche’s principles. Immediately we can “give back to Africa what has always been African,” he said, meaning self-sustaining agriculture. Dr. Behrens concentrated on the challenge to the so-called “unipolar world” of London and Washington represented by the Belt and Road Initiative (BRI) by which “China is challenging the hegemony of the U.S.A.” For this opportunity, he said, “I thank the Schiller Institute.” Ambassador Chrysanthopoulos also focused on the BRI, as it offers a solution to a gathering strategic crisis—even war crisis—in the Mediterranean area between Turkey and Greece. “Would it not be better for the world if the great powers ... cooperated within the Belt and Road Initiative,” he concluded. “And sanctions should be eliminated.”

The audience question and discussion hour after the presentations was just as dynamic, as Helga Zepp-LaRouche joined to make a proposal to all the panelists, that a worldwide petition be launched for the institution of a New Bretton Woods system. The organizing of her petition, launched in January, calling for a conference of nations to establish a new international security and development architecture, has now led to extremely influential world conferences April 9 and this June 18-19 event. She proposed this petition for a New Bretton Woods be on the objective intended for it by its creator President Franklin Roosevelt—to industrialize and develop formerly colonialized nations—and not as it was misshaped by Churchill and Truman. The entire panel debated the proposed petition and a New Bretton Woods itself, with most supporting and others, like Geoff Young, making clear what part of such a worldwide organizing effort they would support.

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