15/08/18

The Western Financial System Teeters on the Brink — Only a New Bretton Woods Agreement Among the Four Powers Can Prevent Chaos



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The Western Financial System Teeters on the Brink — Only a New Bretton Woods Agreement Among the Four Powers Can Prevent Chaos
// LaRouchePAC Feed

Presidents Donald Trump and Xi Jingping exchange greetings at the APEC Summit | November 11, 2017 (Official Whitehouse Photo)

The Western monetary system is hanging by a thread. The immediate panic in Turkey, Argentina and elsewhere eased slightly today, but the problem is not localized to one or more crisis points — it is systemic, the result of the past ten years' refusal to change the policies which caused the 2008 breakdown. When Wall Street exploded in 2008, Bush and Obama showed their colors — the red, white and blue of the Union Jack, not the U.S. flag — refusing to implement Lyndon LaRouche's call for restoring FDR's Glass Steagall Act, while enacting laws which encouraged a full return of the derivative speculation at the expense of the real economy. This led to the revolt of the population expressed in the election of Donald Trump, who pledged to restore the US industrial economy and end the perpetual imperial warfare.

Now, however, as LaRouche insisted after the ......

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