Executive Intelligence Review
Subscribe to EIR


LaRouche Segment from Vesti Nedeli
(News of the Week) Program on
Russian TV, Oct. 5, 2008

Oct. 5, 2008 (EIRNS)—This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).

The Vesti Nedeli (News of the Week) program on Russia's national TV Rossiya channel put American economist Lyndon LaRouche on the air today, in a segment about the current global financial meltdown. In excerpts from an interview with TV Rossiya correspondent Konstantin Syomin, LaRouche laid out the inevitability of the total demise of the current financial system, likely by the end of this year. The emergency alternative, said LaRouche in the broadcast, "would require that the United States would have to go to Russia, China, and India. If they agree on reorganizing the international financial- monetary system, we could solve the problem. This would mean going to a Roosevelt approach, to a kind of new Bretton Woods system."

Vesti Nedeli is the weekly, Sunday prime-time news round-up program on TV Rossiya, whose regular viewing audience numbers 70 million people. Throughout today's program, anchorman Yevgeni Revenko drew attention to the proposals by Russian President Dmitri Medvedev for a new financial architecture, as well as Prime Minister Vladimir Putin's insistance that spurring the real economy, as opposed to financial crisis-management, is the key to a lasting solution.

The lead segment on Vesti Nedeli reported on Medvedev's talks with Angela Merkel in St. Petersburg this week, where Medvedev called for "collective decisions" on the financial crisis. Introducing Syomin's segment on the crisis in the U.S.A., with a focus on the Paulson bailout plan, Revenko noted that at yesterday's meeting of Germany, France, Italy and Britain — the EU members who are also in the Group of 8 — President Nicolas Sarkozy of France had called for convoking, very soon, an expanded summit of the G-8, including Brazil, China, India, South Africa, Mexico, and possibly South Korea and Australia.

Syomin presented a picture of a U.S. population, shaken by sudden unemployment. Against the clownish interaction of Treasury Secretary Henry Paulson and Speaker of the House Nancy Pelosi over the "bailout" plan, Vesti Nedeli counterposed Vatican Secretary of State Tarcisio Bertone, talking about morality in economics. Syomin stressed that the problem is not just debt, but "trillions of derivatives, which are devilishly complex financial obligations that turned out to be simply fictitious."

Then came the section featuring Lyndon LaRouche's remarks:

'This system, in its present form, is virtually extinct. This system will not live out, probably, this year. By the first of the year, we may have a broken-down international financial- monetary system. The question is, what is the alternative to a collapse? It means a reorganization, on an emergency basis, of the entire international monetary-financial system. It would require that the United States would have to go to the three largest nations, outside itself, which would be Russia, China, and India. If [they] agree on reorganizing the international financial-monetary system, we could solve the problem. This would mean going to a Roosevelt approach, to a kind of new Bretton Woods system,' the economist Lyndon LaRouche is convinced.

The mention of Franklin Roosevelt is to the point. The current collapse most resembles the Great Depression of 1929. So, it would seem, it's just the right time for a Democratic President to appear and propose another New Deal for government intervention in the economy. But instead of Roosevelt, today there are Obama and McCain, and instead of a New Deal, the Bush-Paulson plan.

[Speaker at a street rally:] 'How much are they getting into our pockets for? Our homes are getting foreclosed, and they're bailing out the corporations!' [Trade unionist:] 'I'm here to oppose this nationalization. This is redistribution for the wealthy.' Ordinary Americans are upset.

'Remember that the proposal for this legislation was defeated, on Monday, in the House of Representatives. Now, this reflected that 70% of the voting population of the United States hates what is being proposed by the Bush administration at this time. The popularity of political Washington, the capital, among the ordinary citizens of the United States, has dropped to below 10%. [In written transcript, not aired: We're in a revolutionary situation, in which less than 10% of the U.S. population agrees with the policies of the government, and hates their government on the grounds of this policy,]' noted Lyndon LaRouche."

Syomin strongly suggested that the Congress buckled, out of political and physical fear of Wall Street. The broadcast segment quoted Italian analyst Giuletto Chiesa, on the danger of war being very great. The written transcript also cited LaRouche on this danger.

Syomin cited the threat of coups and violence, as shown during the Great Depression by the coup attempt against President Franklin Roosevelt, which Smedley Butler exposed.

`A group of bankers and military men who were against the New Deal wanted to set up a dictatorship,' said this most unusual broadcast on Russian state television. `Among the plotters was the grandfather of the current President, Prescott Bush.'

Transiting from Syomin's report to a concluding report on the Russian Central Bank's crisis measures of the past week, Revenko linked LaRouche's remarks to President Medvedev's initiatives:

`As you see, serious American economists are also talking about the formation of a new financial architecture. I remind you that President Dmitri Medvedev brought this up at the St. Petersburg Economic Forum,' earlier this year.