Zepp-LaRouche Insists on 2023 Danger of Major Financial Crisis on CGTN Discussion

Jan. 8, 2023, 2022 (EIRNS)—CGTN’s “Road to Recovery” broadcast a panel discussion on “Optimized COVID-19 Measures in China and Growth Prospects in 2023,” today on the opening up, as China moves out of their “Zero Covid” regimen, of China’s economy and its international trade, particularly its connection with Europe. The first of two questions, put to “founder and president of the Schiller Institute” Helga Zepp-LaRouche, involved the issue of China’s supply chain, and she took the opportunity to refocus the discussion on the clear and present danger of a major financial blowout in 2023.

Zepp-LaRouche explained that the comments of the previous participants had generally been optimistic about the coming year, but she considered that thinking people need to be more on guard. Europe and the U.S. have problems with their central banks, and the problem expressed in the crypto-currency shake-up is only the beginning. The central banks are caught in a vise: Higher interest rates (quantitative tightening) increase bankruptcies, but more quantitative easing gets more inflation. A big financial crisis, much bigger than 2008, will come—even if it is difficult to predict exactly when. Countries that stress physical economy will be in better shape, and much better guarded from financial chaos. There is, however, no sign in the West that they will stop their casino economy.

The second question to which Zepp-LaRouche responded involved the role of government in a time of crisis. Of course, in times of crisis, government policy is key. So, China has the advantage in such a situation. But again, those countries which are now preparing for a financial collapse will be better off. As of now, we will end up with a depression in Europe. We have a huge energy crisis. If the German economy has severe problems, then all of Europe will suffer. Better to prepare for a crisis than have an optimistic view, and then be caught by surprise. The Eurasian Economic Union (EAEU) and some other countries of the Global South are moving in a more realistic direction. The more quickly Europe lines up with such motion, the better off it will be.

Professor John Gong, who has addressed Schiller Institute conferences, in particular, picked up on Zepp-LaRouche’s insistence on a major crisis being likely in Europe, saying that the European market is in big trouble. “I totally agree with Helga on this point.” He also, late in the show, added his voice to Zepp-LaRouche’s, that it is much better to prepare for a serious crisis than be caught off-guard by a crisis.