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Time To Reverse Shultz's Destruction of Exchange Controls

by Lyndon H. LaRouche, Jr.

Here is the transcript Lyndon LaRouche's opening statement to an April 7 webcast, sponsored by the LaRouche Political Action Committee, in Washington, D.C. The webcast was broadcast live into the annex building of the Argentine Congress, among other international locations. Moderator Debra Hanania-Freeman announced the vote in the Italian Chamber of Deputies for a motion to convoke a New Bretton Woods conference to reform the international financial-monetary system, a proposal which LaRouche had crafted.

We're in a situation, to situate what I'm to say today, in which there are an increasing number of influential circles around the world, including inside the United States, which are now echoing something that President Clinton said in September of 1998, in the aftermath of the collapse of the Russian bond speculation: That the world needs a new financial architecture to replace that of the present IMF system.

And around the world today, as typified by the events yesterday in the Italian Parliament, where what had been worked out with me was voted up by the Parliament, in a very heated but spirited debate, is now on the minds of people around the world: We need a new financial architecture for the systems of the world. We can not continue under the present one. What is undecided in the minds of many, is what that architecture should be. Many have opinions, more or less superficial in many cases. But there is no consensus, at present, on what has to be done.

Now, my function here, today, is to set forth in a summary fashion, because this is an enormous subject, but to summarize the issue, in such a form that the discussion might be structured, rather than chaotic, as it tends to be, in the United States today. And so, that I say the following:

Now we're at the moment, in which the United States is gripped by the greatest financial-monetary crisis in modern history; at least since the beginning of the creation of our republic....

...link to complete statement, pdf format