PRESS RELEASE

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Sergei Glazyev's Website Posts Zepp-LaRouche's New Bretton Woods Call

Aug. 30, 2007 (EIRNS)—This statement was released today by the Lyndon LaRouche Political Action Committee (LPAC).

The updated Call By the Ad Hoc Committee of a New Bretton Woods, issued by Schiller Institute founder Helga Zepp-LaRouche on August 12, appeared in Russian yesterday on the website of Russian economist Sergei Glazyev. One of the most widely read political sites in Russia, Glazev.ru titled the appeal "Authoritative economists call for creation of a new world financial system," and lists it prominently on the main page.

Glazyev, who is an associate member of the Russian Academy of Sciences and an elected deputy in the State Duma, gave a press conference Aug. 23 on the systemic nature of the current world financial crisis. He called for Russia to move in coordination with other Eurasian countries to protect their economies, and reiterated his own proposal to use the Russian ruble as a reserve currency and to denominate Russian exports in rubles — ideas that President Putin seconded at the St. Petersburg World Economic Forum in June.

The Ad Hoc Committee for a New Bretton Woods outline of a Rooseveltian new financial architecture is being widely quoted and reposted on other Russian sites, picking it up from the Glazev.ru source. The Russian translation of the Call has also appeared on the Anti-Globalist Resistance site (www.anti-glob.ru), and a new analytical site called Strategium, based in Ukraine.