DARK AGE

A New Bretton Woods: Time To Reverse George Shultz's Destruction of Exchange Controls

"We are caught, like a ship in a storm, within an already onrushing world crisis, which now threatens to plunge the planet as a whole into a new dark age. It were still possible to save the world economy from this horror; but, we shall not survive without abrupt, radical measures which would return us to President Franklin Roosevelt's intended unleashing of his intended, post-war implementation of the Bretton Woods monetary system. We either choose that option, or blame ourselves for the awful things which soon follow."

Lyndon H. LaRouche, Jr. Foreword to Earth's Next Fifty Years

The post-Bretton Woods floating exchange rate system is at disintegration point. Global financial speculation is wildly out of control, creating massive bubbles in property and derivatives markets, which threaten to blow, and driving up the price of oil toward $US100 per barrel. Global debt levels are unpayable, and the debt of one company alone, General Motors, which is over $US300 billion, is teetering just one grade above junk bond status, and threatens to explode the global financial system. As long forecast by U.S. physical economist Lyndon LaRouche, the world is on the brink of depression.