Sergey Glazyev Describes LaRouche’s Idea for a New Financial System

June 28, 2022 (EIRNS)—Sergey Glazyev, Member of the Russian Academy of Sciences and Commissioner for Integration and Macroeconomics of the Eurasian Economic Commission, posted the following short note (machine-translated to English) to his Telegram channel on June 27:

“A quarter of a century ago, the deepest thinker of our time, L. LaRouche, proved the inevitability of the collapse of the Western financial system built on financial pyramids and bubbles, the general write-off of debts and the zeroing of derivatives. He called for the creation of a new financial system to serve the needs of expanded reproduction of the real economy.

“He called for creation of a new financial system as serving needs of expanded reproduction of real economy. Current world monetary and financial system has long been turned by U.S. monetary authorities into financial bubbles and is rapidly collapsing under the weight of imbalances.”

“Their collapse is gaining momentum, chain reaction of global financial collapse about to start, launched by idiotic actions of DC Russophobes, who arbitrarily nullify Russian assets. Artificial default of Russia will soon come back to haunt real default of U.S. financial system.”