The Bottomless Jackson Hole

August 28, 2019
President Donald J. Trump joins the G7 Leadership and Extended G7 members as they pose for the “family photo” at the G7 Extended Partners Program Sunday evening, Aug. 25, 2019, at the Hotel du Palais Biarritz, site of the G7 Summit in Biarritz, France.
President Donald J. Trump joins the G7 Leadership and Extended G7 members as they pose for the “family photo” at the G7 Extended Partners Program Sunday evening, Aug. 25, 2019, at the Hotel du Palais Biarritz, site of the G7 Summit in Biarritz, France.

The G7 nations just put on a dazzling display of their institutional policy bankruptcy at their Aug. 24-26 summit in Biarritz, France, by sidestepping discussion of any of the serious issues facing the planet, and studiously avoiding the single, defining matter before mankind: The irreversible bankruptcy of the entire London-run trans-Atlantic financial system, and the Aug. 22-24 Jackson Hole meeting of central bankers and other financial bigwigs, which called for a “regime change in monetary policy” to try to keep their empire intact.

As Helga Zepp-LaRouche told European associates on Aug. 26: “The real story is that the Jackson Hole meeting declared a regime change in monetary policy and the perspective of ‘helicopter money,’ of basically eliminating the last aspects of sovereignty of governments by giving the authority to the central banks to so-called ‘go direct,’ meaning pumping money both into official state, but also private channels—and naturally, this is also supposed to all finance the Green Deal. This is exactly what Hitler’s central banker Hjalmar Schacht did.”

Zepp-LaRouche went on to remind listeners that Lyndon LaRouche, in a famous December 1971 public debate with the prominent liberal economist Abba Lerner at Queens College in New York City, made mincemeat of Lerner by getting him to admit that he thought 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 said, Hitler would not have been “necessary.”

What Jackson Hole’s central bankers are proposing, led by the Bank of England’s Mark Carney, is 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: fascism.

The old world order is rapidly going under, to the point where even London outlets such as the Guardian are forced to ruefully admit that the G7 “meeting left little trace it had ever happened ... but there was a distinct sense of the established order being given its last rites.” However, the architects and advocates of that old order are constitutionally incapable of creating a new one that works for the human race, Zepp-LaRouche emphasized. Instead, they are dragging the world down into the maelstrom of fascist Green policies—into a bottomless Jackson Hole.

This is seen in the latest developments in Italy, where the British and their allies are attempting to consolidate a Green coup d’état, installing a government which is committed to “a paradigm change on environment, a 100% renewable country.” It is also seen half-way around the planet in the Amazon region, where French President Macron is spearheading a lying, Green international media and social networks campaign to trample on Brazilian sovereignty in order to “help” them deal with Amazon fires.

In light of this overriding strategic reality, Zepp-LaRouche again criticized those in the U.S. and Europe who propose to continue on the course of confrontation with China and Russia. “This is really wrong,” she stated. “There is absolutely no problem in the field of strategic questions which can be solved without Russia; and there is not one economic problem which can be solved, especially with this looming financial crash and hyperinflation, without China”—which is, after all, the only engine of actual physical economic growth in the world today.

Zepp-LaRouche strongly endorsed the approach taken earlier this week by Kremlin spokesman Dmitry Peskov, who called for the next G7 or G8 meeting, which will be held in the United States, to include not only Russia, but also China and India. This proposal closely resembles Lyndon LaRouche’s call for a Four Powers approach among the U.S., Russia, China and India to solving the planet’s central problems, especially the breakdown crisis of the international financial system.

To bring about the necessary policy discussion on the collapsing British system, their fascist proposals on display at Jackson Hole, and most importantly the policy measures needed to bring about a classical New Paradigm, the international LaRouche Movement will hold Days of Action on university campuses in the first part of September, both across the United States and in close to a dozen countries internationally. This initiating deployment will be, in the words of Zepp-LaRouche, “an appeal to the youth of the world to transform the human species, by making sure that the human species becomes a space-faring species, and that there are principles which mean that this Green fascist stuff is completely wrong.”