LaRouche’s New Bretton Woods in Russia

Lyndon LaRouche's statements appear regularly in 40 to 50 Russian-language websites and are appearing more frequently in the print media there. On October 30 the major dailies Komsomolskaya Pravda and Novaya Gazeta cited Lyndon LaRouche, and on Oct. 31,  an article appeared in the context of discussion about the upcoming  November 15 Group of 20 Heads of State meeting, which presented Helga Zepp LaRouche's call for action for a LaRouche New Bretton Woods.

On Oct. 17th, 2008, the Russian-language original of the article "The Crisis Leaps Across the Planet" by Prof. Stanislav Menshikov was published in the Moscow weekly Slovo. The author has over half a century of experience of observing and analyzing the world economy. As Russia's leading senior expert on the U.S. economy, Professor Menshikov explains to Russian readers how Lyndon LaRouche's forecasts of the current financial breakdown crisis have proved to be uniquely accurate.

In the October 3, 2008 issue of the leading Russian business daily Kommersant, CEO of Russian Railways (RZhD) Vladimir Yakunin was interviewed under the headline, "Liberal Capitalism Is Coming to an End in Russia." At the outset of his interview, Yakunin stated bluntly that none other than Lyndon LaRouche, the "American alternative economist," had warned him of the onrushing global financial breakdown crisis a long time ago.

Responding to Kommersant's question "When did you realize that there would be a financial crisis?", Mr. Yakunin replied, "A year and a half ago. I am not making this up. I remember my first conversation with the American alternative economist, Professor LaRouche. He is someone who uses quite powerful algorithms for evaluating the state of the economy and its prospects. And he said to me, "Vladimir, I can tell you with certainty, that the economic crisis is already taking place." He emphasized that the basis of the crisis is the transformation of the economy and, above all, finance, into a virtual economy and virtual finances. Out of the entire monetary circulation taking place in the world today, in his view, only about 15% of the paper money is backed by real value - industrial production, raw materials, etc. It seems to me that right now we are witnessing the accuracy of this formula. This summer, I have been discussing the topic of the crisis both with other economists, and with my friends in the government, so the crisis itself was not unexpected. But I am not a professional financier. If the crisis was visible and obvious to me, it should have been visible and obvious to the people who are running financial policy..."

Russian Economist Sergei Glazyev recently called for Russia to co-initiate a new financial architecture, and cited the lessons of the Duma hearings he chaired in 2001, which were keynoted by Lyndon LaRouche. In an interview Glazyev noted that Russia has already lost $30 billion because of holding its national reserves in the sinking dollar, and added, "If the leaders of the Central Bank and the government had listened to the recommendations from the Parliamentary hearings, which we held seven years ago, those losses could have been avoided."

Duma Testimony, 2001

Helga Zepp-LaRouche Resolution:
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