The meeting of the BRICS nations this week will most certainly mark a transformation in world history, with the founding of the seed crystal for a new world financial system based on infrastructure and development, rather than speculation and imperial "conditionalities" under the IMF, World Bank and dollar hegemony. The following article from the current EIR presents the potential, which, if joined by the US restoring Glass Steagall (which will require the increasingly likely impeachment of Barack Obama), will spell the death knell of the British Empire, once and for all.Svetlana P. Glinkina, deputy director of the Institute of Economics, Russian Academy of Sciences, wrote the following today, July 14, in the China Daily: "The BRICS countries have set an ambitious goal: to prevent the International Monetary Fund from imposing political and other conditions on developing countries for granting them loans to build infrastructure and/or run businesses. " All nations - the U.S. included - must join behind this effort.Mike Billington
Russia and China OutflankBritish Empire War Driveby Jeffrey SteinbergJuly 7—Russia and China have launched a deadlyflanking assault against the British Empire, withoutfiring a single shot. While London continues to pressfor strategic confrontation with Vladimir Putin’s Russiathrough its control over the Obama Presidency, and itsown direct long-running operations in Ukraine,Moscow and Beijing are moving rapidly to create a neweconomic and monetary order free from the shackles ofthe British system of free-trade looting and radicalMalthusian genocide.Both China and Russia have made clear their desireto have the United States and Europe join in the newarrangements, but they are declaring their independencefrom the system of usury, speculation, and war that hasdominated the planet for centuries.The coordination between Russia and China will beon display next week, when both President Putin andChinese President Xi Jinping travel to South Americato participate in the 6th BRICS (Brazil, Russia, India,China, and South Africa) summit July 15-17, inFortaleza, Brazil, and a series of bilateral meetings. At theBRICS meeting, two new financial institutions areexpected to be established: a BRICS development bankand a collective fund to beat back currency assaults onthe member states. The recent efforts by vulture funds,in collusion with U.S. Federal courts, to loot Argentina,and break up the bond restructuring arrangementnegotiated between Argentina and 93% of its bondholders,have backfired and created accelerated momentum tobreak the stranglehold of the so-called WashingtonConsensus of the IMF, the World Bank, the Bank ofEngland, the U.S. Federal Reserve, and the U.S.Treasury over global financial affairs.At the same time, China is spearheading thecreation of an Asian Infrastructure Investment Bank(AIIB) before the end of the year. Beijing is seeking asmany as 30 initial members in the bank, which WallStreet and London clearly see as an undesirablealternative to the Asian Development Bank which has beendominated by the Washington Consensus, throughslavish cooperation by Japan. The stated purpose of theAIIB is to promote rapid construction of the EurasianLand-Bridge of transportation and developmentcorridors stretching from the Pacific Far East to thewestern most shores of Europe. In announcing the AIIB,Chinese officials also announced that they planned tofinance a high-speed rail link between China and Iraq.The Eurasian Approach vs. London/WallStreetThe idea of the rail line to Iraq underscores the qualitativedifference between the Asian approach beingaggressively promoted now by Beijing, and the bankruptpolicies of permanent war being peddled by Londonand its Wall Street and Obama White House allies. Iraqremains under siege by the barbarian forces of theIslamic State of Iraq and Syria (ISIS), which last weekproclaimed a Caliphate on the territory of the two countries. Backed by Persian Gulf states and wealthyindividuals, ISIS has been conducting a lightning drivetoward Baghdad, defeating the Iraqi Army in a series ofengagements. ISIS is operating with Sunni tribes andremnants of the Saddam Hussein-era Iraqi Army whowere purged during the U.S. occupation of the Bush-Cheney era. The factions have maintained cohesionthrough the Sunni tribes and the Army of the Men ofNaqshbandi, a Sufi network of Ba’athist military officersand soldiers who have been shut out of power bythe U.S.-backed al-Maliki government in Baghdad.Threat of Regional WarThe threat posed by ISIS to neighboring countries,including Syria, Lebanon, Jordan, and Saudi Arabia,has created the conditions for a new regional war. Onethousand American troops are now in Iraq as advisors,trainers, and intelligence liaisons, as well as security forthe U.S. Embassy and an estimated 25,000 Americansworking in various parts of the country. Last week,Russia sent SU-25 fighter planes and Russian trainersto Iraq on short notice at the behest of the al-Malikigovernment. Iran has an estimated 100 Al Quds Brigade(IRGC) military advisors in the country as well,mostly working with Shi’ite militias called upon tofight against the Sunni insurgents.Last week, Secretary of Defense Chuck Hagel andJoint Chiefs of Staff (JCS) Chairman Gen. MartinDempsey gave a frank assessment of the situation onthe ground in Iraq. Dempsey told reporters at a specialPentagon briefing that he believed the Iraqi Army couldhold back an ISIS assault on the capital, but that theypossessed no capacity to launch any counterattacks totake back territory already lost to the rebels.At the request of President Obama, the JCSdelivered military options last week, suggesting that it wouldtake as many as 6,000 American troops—one entirecombat brigade and relevant air and communicationssupport personnel—to simply secure the U.S. Embassy,the Baghdad International Airport, and the 15-km roadconnecting them. Obama authorized the deployment ofan additional 300 U.S. troops, far less than the Pentagon’sassessed requirements.Obama has already violated the Constitution bydispatching American forces without Congressionalapproval. There is a bipartisan revolt brewing against thePresident’s latest Constitutional infringements. Rep.Barbara Lee (D-Calif.) sent the President a letter signedby 80 members of the House on July 3, warning himagainst any military action without Congressionalauthorization (see Feature, in this issue).Moreover, Washington and London appear to bedoing everything possible to escalate the provocationsagainst Russia, using the Poroshenko government inUkraine as its instrument. After a series of meetings andconference calls among Presidents Putin andPoroshenko with German Chancellor Merkel and FrenchPresident Hollande, the seeds of a negotiating process toend the violence in Ukraine were beginninbg to sprout,until Poroshenko abruptly ended the ceasefire betweenthe Ukraine government and pro-Russian federalistforces in the southeast of the country, and resumedmilitary operations.Russian Foreign Minister Sergei Lavrov blamed thesudden shift on pressure from an unnamed outsideforce—an implicit reference to London and Washington.Putin has made clear his willingness to negotiate anequitable agreement, and has taken concrete steps,including asking the Federation Council, the upper houseof parliament, to rescind the law giving him authority tointervene militarily in Ukraine, and pushing for OSCE(Organization of Security and Cooperation in Europe)observers to be deployed to the Ukraine-Russia border.Nevertheless, the crisis continues to grow.It is in this context that the Russian and Chinese actionsto forge a new just economic system in Eurasia andbeyond represent a crucial flank against the power of theBritish Empire. Were Congress to remove PresidentObama from office, not only would the immediate wardanger be vastly reduced (the British, without the U.S.on a leash, have no capability to fight a general war). Theprospects for the United States directly participating inthe new economic order would be vastly improved.Lyndon LaRouche has repeatedly stated in recentyears that the advent of advanced thermonuclearweapons has made modern warfare impossible. Anygeneral war would be a war of extinction. Since thedwindling power of the British Empire system is theonly driving source of the war danger, defeating thatEmpire system by forming a new economic and financialsystem on traditional Hamiltonian AmericanSystem principles—with U.S. full participation—would be the single-most deadly blow to the last vestigesof the British Empire. Either the British will succeedin provoking a general war, in which casemankind is doomed, or the power of the British Empirewill be defeated, starting with the removal of Britishpawn Barack Obama from the Presidency.