By Harley Schlanger
The G7 nations engaged in a three-ring circus of obfuscation, while demonstrating a convincing display of their institutional policy bankruptcy, at their August 24-26 summit in Biarritz, France, where they sidestepped discussion of the real issues facing humanity, by avoiding any discussion of the single, defining matter before mankind: The irreversible bankruptcy of the entire London-run trans-Atlantic financial system. While the circus was underway in Biarritz, the real agenda was presented quietly, without much fanfare or publicity, in Jackson Hole, Wyoming, on August 22-24. There, at the annual meeting convened by the Kansas City Federal Reserve, a gang of central bankers and other financial swindlers called for a "regime change in monetary policy", in a desperate attempt to keep their empire intact. As described by the Schiller Institute President Helga Zepp-LaRouche, "The real story is that the Jackson Hole meeting declared a coup, what they themselves call a 'regime change in monetary policy'. They are openly demanding the issuance, by Central Banks, of 'helicopter money,' which would basically eliminate the last aspects of national sovereignty of governments, by giving the authority to the central banks to directly pump fiat money both into official state, but also private channels—and naturally, this is also supposed to all finance the Green Deal."
Zepp-LaRouche reminded listeners that her late husband, Lyndon LaRouche, in a famous December 1971 public debate with the prominent liberal economist Abba Lerner at Queens College in New York City, demolished Lerner, by forcing him to admit that he thought Hjalmar Schacht's policy of opening the floodgates for the financing of the Nazi war machine, was the correct policy—and that if other politicians had only done what Schacht advocated, Hitler would not have been "necessary." Schacht served as Hitler's Minister of Finance, and had the full support of Bank of England Chair Montague Norman, and American bankers Roland Harriman and Prescott Bush, the father of former President George H.W. Bush.
There were three specific proposals put forward in the last days which elaborate this intent:
1.) Bank of England Governor Mark Carney proposed, at Jackson Hole, the adoption of a "Synthetic Hegemonic Currency", a "virtual" currency to replace the dollar, to be issued with no constraints by Central Bankers. This would allow them to go far beyond Quantitative Easing (QE), zero interest rates and negative rates, to provide unlimited liquidity to bail out the worthless derivative and other speculative instruments, held on the books of the largest banks and financial institutions—as well as by central banks—to keep them at face value, so they could continue to be traded. He specified that a virtual currency is needed, one with no connection to anything which is "physical";
2.) A proposal from four economists from central banks, issued by Black Rock, which called for moving from "unconventional monetary policy [e.g., QE] to unprecedented policy coordination" by the central banks. The call is for merging monetary policy, the domain of central banks, with fiscal policy, i.e., government budgetary spending. This would mean that all functions of government would be in the hands of central bankers, a "Committee of Experts", which would decide the volumes of credit created, and where it would go. The credit would go obviously mainly to speculators, leading to an accelerated deindustrialization of advanced sector nations. This Committee would have the power to "put on the brakes" if they saw hyperinflation coming. One opponent of this plan asked if these "Experts" would be the same ones responsible for the Crash of 2008, and the post-Crash policy of bailing out bankrupt financial institutions, while starving productive sectors of credit. This plan is a straight-forward call for establishing a Global Banker's Dictatorship;
3.) A global Green Financial Initiative (GFI), which would channel all credit to so-called green technologies, to "decarbonize" the global economy, is central to these scams. The GFI has the backing of leading City of London and Wall Street bankers, and is based on the fraudulent science behind "man-made climate change". It would further escalate not only deindustrialization, but attacks on mechanized agriculture, use of automobiles and airplanes, etc. A prototype of this plan was presented by presidential candidate Bernie Sanders, who called for $17.8 trillion in spending over ten years, to dismantle the energy and wealth-producing sectors of the U.S. economy, while funding "sustainable" boondoggles.
These proposals are nothing but a new-fangled version of the same Schachtian hyperinflationary bailout of their bankrupt financial system—which has the same political attributes today as it did then, and can correctly by called by its real name, fascism. Such a "regime change", which would further dismantle industry and manufacturing while funding inefficient "alternative" energy schemes, and would impose drastic austerity on the majority of people, to protect the financial swindlers who have created the world's largest debt bubble, and allow them to expand it!
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