LaRouche Responds On A "Single Currency"
March 26, 2009 • 10:53AM

The following response to a question submitted to LaRouche right before the webcast, takes on expanded relevance in the midst of the current internationally orchestrated campaign for a Keynesian single-currency international regime.

TO (name withheld):

For little known, but the most powerful, but, unfortunately, little known physical-scientific reasons, a single, international currency is impossible, I shall be addressing some crucial aspects of this matter during the today's (March 21, 2009) webcast.

Essentially, however, first, the point is that money has never been an actual measure of physical-economic values; monetary systems, as distinct from credit systems, are a legacy of a long history of imperialisms, as from ancient Babylon through the emergence of the Roman, Byzantine, the Venice-steered feudal system of 1066 until the rise of the modern form of nation-state system, and current British empire first established as a private empire of the British East India Company, through the February 1763 Peace of Paris. Since that about A.D.1066, until Fifteenth-Century Renaissance Venice maintained control of the financial systems of Europe and neighboring areas through the international monetary system modeled on the power of Mediterranean trade in money-species by of the Cult of Delphi. Value lies in the relative rate of the relative rate of increase of the physical productive powers of labor, per capita and per square kilometer of the territory.

For example, since 1967-68, 1971-72, and the 1973 Anglo-Saudi oil-price swindle became the core of the ruling imperial power of the planet, that swindle has been the imperial core of the world's present international monetary system. Unfortunately, the heritage of the Delphic system of monetarism, as expressed typically by the doctrine of John Maynard Keynes, has been the dominant force in maintaining a world-system of currency and values in trade from approximately ancient Delphi, to the presently onrushing world-wide economic breakdown-crisis.

There lies the systemic, historical error of the currently popular fantasy of, for example, Igor Panarin.

— Lyndon