The Schiller Institute’s international call for a New Bretton Woods, with 50 of the more prominent of its thousands of signers, is circulating today at the opening of the United Nations General Assembly; will circulate through the U.S. Congress this week, and is going out internationally. Helga Zepp-LaRouche stressed today that it is the only effective antidote to the British monetarist regime, marked by deeply unpopular and tottering governments, trying to issue orders to governments with broad popular support, which are moving to work with China on the Belt and Road and with Russia.
This mobilization is led as well by the independent campaign of Kesha Rogers in Texas’s 9th C.D. backed by LaRouchePAC — uniquely led, because Rogers has spelled out the program for a North American Belt and Road Initiative and North American Infrastructure Investment Bank; and because she can defeat Rep. Al Green, who leads the Democratic Congressional impeachment circus. All those who want to defend the Presidency should be supporting Rogers’ campaign against “Impeachment Al” in any way they can, while helping to push the leaders of Russia, China, and India and Donald Trump Into the formation of a New Bretton Woods monetary system to replace the present globalism speculative casino which has robbed the entire world. Seventy-five years ago Canadian economist Robert Bryce observed, of the Franklin Roosevelt Administration’s moves to create a new post-War Bretton Woods monetary system and to develop the economies of nations such as China:
“This looks to be the opening for that New Imperialism which one hears about these days — a benevolent, liberal and far-sighted, if not actually socialist, imperialism — a TVA imperialism. The new imperialists would have as objectives, not a high return on capital, but rather a flourishing trade built up on the basis that would be created by the rising standard of living in the capital-importing country. More distant objectives would be the peace and strategic security for the lending country, achieved not so much through political influence, as through the political stability that a prosperous trade and progressive economic and social development would ensure in the borrowing country.”
Since today this rather precisely describes — not U.S. policy or British “public-private partnerships” — but rather, China’s new paradigm of the Belt and Road Initiative, all the attacks from American and European neo-Cons and Keynesians claiming China is “imperialist,” practicing “debt-trap diplomacy,” and so on, should be dismissed for the garbage they are. These are fearful squawkings of those who, having done away with bank regulation, let the global crash of 2008 come on, and who are complicit in the greater crash coming on now.
If the globally admired model of the Tennessee Valley Authority, and its deliberate recreations in China’s Three Gorges Dam, its water-transfer projects and high-speed rails, its elimination of rural poverty — if those are imperalist, that is the imperialism we need, as it was in FDR’s Good Neighbor and anti-colonial economic policies.
The real question is whether the leaders of the United States, Russia, India, necessarily taking the point for other very qualified nations, will join with the President of China in launching a new Bretton Woods monetary system, for the purposes President Roosevelt saw in the original. The Belt and Road Initiative has already provided a launchpad for that policy — capital and credit flowing from “volcanoes” of economic and technological productivity, to developing nations, and flows of speculative capital being deliberately suppressed in the process.