The trans-Atlantic financial system died in 2007. Lyndon LaRouche announced its death on July 25 of that year and prescribed the remedies required to create a new system:

First of all, this occurs at a time when the world monetary financial system is actually now currently in the process of disintegrating. There’s nothing mysterious about this; I’ve talked about it for some time, it’s been in progress, it’s not abating. What’s listed as stock values and market values in the financial markets internationally is bunk! These are purely fictitious beliefs. There’s no truth to it; the fakery is enormous. There is no possibility of a non-collapse of the present financial system—none! It’s finished, now!

The present financial system cannot continue to exist under any circumstances, under any Presidency, under any leadership, or any leadership of nations. Only a fundamental and sudden change in the world monetary financial system will prevent a general, immediate chain-reaction type of collapse. At what speed we don’t know, but it will go on, and it will be unstoppable! And the longer it goes on before coming to an end, the worse things will get. And there is no one in the present institutions of government who is competent to deal with this. The Congress, the Senate, the House of Representatives, is not currently competent to deal with this…

You have to change the world monetary-financial system immediately, and you can not do that with a couple of small nations. You can only do that from the top. You have to pull together the might of the world, the major powers of the world and those who will support them, and say, “We’re going to change immediately the world monetary system. We’re going to get rid of the floating-exchange-rate monetary system. We’re going back immediately to a fixed-exchange-rate system.” Because if we do not go back to a fixed-exchange-rate system, of the Franklin Roosevelt prototype, then there’s no possibility of preventing a general collapse and disintegration of the world economy. It can’t be done. Therefore, you have to have a power group which says, “We’re going to save this planet from Hell.”

What we have witnessed since the 2007 collapse is now euphemistically referred to as the “everything bubble.” From the stock market to housing to commercial paper, the system has been pumped up by the fraud of “quantitative easing” (QE), which will eventually lead to hyperinflation. The monarchy’s Great Reset of a Green New Deal, enforced through the “regime change in monetary policy,” was announced by BlackRock at the 2019 meeting of central bankers in Jackson Hole. BlackRock insisted that this regime of central bank control of government spending must be enforced before the coming phase of the crash. They are attempting to create a new green bubble to replace the everything bubble, but the price of that bubble will be paid in human life, since their financial system cannot support present levels of the global population. This is related to LaRouche’s forecast of the end of the Bretton Woods system in 1971, where he warned that the wave of speculation unleashed by the British financial oligarchy would lead to a schizophrenic dissociation between the financial system and the physical economy it was supposed to reflect. LaRouche also warned of the rise of fascist movements in order to impose the British financial oligarchy’s diktat—today’s Green New Deal and Great Reset.

In 1995, LaRouche developed the “Triple Curve/Typical Collapse Function” diagram to describe the process of physical breakdown when the financial system deviates from the real economy. The “Triple Curve” had three features: geometrically increasing rise in debt (“financial aggregates”); monetary aggregate rising even more rapidly in an attempt to liquefy good and bad debt alike; and the physical economy in accelerating decline.

The present ongoing collapse is obvious to anyone not paying attention to the stream of lies coming from the City of London’s propaganda wing known as the international media. At the end of 2020 total global debt reached $281 trillion according to the Bank for International Settlements, up $21 trillion or 7.5% in just a year. Total U.S. debt rose to $69 trillion, up 11% during the past year. The Federal Reserve’s balance sheet has reached $7.6 trillion, indicating it has doubled bank reserves in 16 months by monetizing Treasury debt and buying mortgage-backed securities (MBS) from big banks—including another $90 billion in the past week alone. The U.S. money supply (M2) has increased by 26% in the year since February 2020, the largest one-year jump since 1943. And the physical economy? Some 19 million people received unemployment benefits in the week ending Feb. 7, with 7 million more “out of the workforce but wanting work” according to the Labor Department; that is 16% unemployment.

That is LaRouche’s Triple Curve “Typical Collapse Function”—financial collapse or hyperinflationary explosion. Some market experts like Michael Burry of The Big Short fame now foresee the latter coming soon.

Wall Street’s banks continue to go further out on speculative limbs. According to the FDIC, U.S.-based banks, as of Feb. 10, have received $800 billion in additional deposits since July 2020, while their loans and leases outstanding have dropped by nearly $300 billion in the same seven months. Concentrating on the biggest Wall Street banks, they have continued shifting their assets to trading desks and “fixed income” interest rate arbitrage: JPMorgan Chase from 34% of assets last January to 42% now; Goldman Sachs from 63% to 78%; Morgan Stanley from 50% to 56%, and so on.

What must be done in such danger, LaRouche showed, is to use new national credit, to rapidly add new productive employment and increase productivity in production generally by technological breakthroughs in new economic infrastructure—for example, in nuclear power, crash programs for fusion power and space exploration, very high-speed transportation of people, goods, machinery. If, instead, we allow the Green New Deal’s “great leap backward” in human productivity, with such throwback technology as just failed in Texas—if we allow the governors of other states to push through this “Texas model” of wind and natural gas backup—we will pay very dearly in human life.

We know what Lyndon LaRouche said must be done in such a situation. Put through a Glass–Steagall reform to break up Wall Street’s speculative casinos, and quickly create a national credit facility by nationalizing the Federal Reserve or creating a Hamiltonian national bank. Inject that credit into the economy through infrastructure agencies in particular, to create new productive employment and raise productivity with new technologies—exactly what the trillions in so-called COVID-19 “relief” spending has not done. Pay farmers fair prices to raise and process food. Take the breakthroughs of the spacecraft at Mars and put human beings on the Moon again.

The report you are reading, adapted from the EIR report, The Great Leap Backward: LaRouche Exposes the Green New Deal, is a critical tool to speed those actions Lyndon LaRouche would have insisted on.

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