As the global economic collapse enters its most dangerous phase, with at least 13 nations—including the U.S. and U.K.—facing sovereign default on their debts, the world’s leading economic forecaster and physical economist, Lyndon LaRouche, will deliver a webcast address at 5am Australian Eastern Daylight Time on 4^th December, entitled “The Real Change is Coming”. The webcast will be available live at www.larouchepac.com and archived thereafter.

The debt crisis facing the world is terminal: Ireland, Greece, Hungary, the Baltic States, Ukraine, Pakistan, Romania, Bulgaria, Spain—and the United Kingdom and the United States—are all nations named as facing sovereign default; although Russia’s $US400 billion in foreign currency reserves would indicate it is not at risk of default, its proximity to the Baltic states and former eastern bloc nations, which all have foreign debt to GDP ratios for more than 100 per cent, puts it at risk, on top of which its leading companies owe $US470 billion, with no guarantees the Russian state will guarantee their debts; and even Australia is seeing signs of the debt burden, such as Westpac’s hurried decision yesterday to jack up interest rates by almost double the official RBA rise, because of their rising debt costs stemming from the enormous debt owed by all of Australia’s banks—collectively $AU634 billion—to foreign lenders, which makes Australia extremely vulnerable to the world crisis.

“These are the days when the world system of the International Monetary Fund is slipping into a chain-reaction pattern of sovereign fiscal defaults,” Lyndon LaRouche stated yesterday. The Queen’s 27^th November speech to the Commonwealth summit, coinciding with the announcement of Dubai’s default, following Dubai ruler, Sheikh Mohammed’s meeting with the Queen on 23^rd November, was the umbrella under which the wave of oncoming sovereign defaults was announced.

Nothing can be understood without consideration of the Queen’s speech, he continued, which was probably the most significant event over the recent period. With her declaration that the Commonwealth—in fact, the physical extension of the British Empire’s monetarist global realm—must expand its international role, she declared the Empire’s intention for global genocide, and the end of nation states, which are now to be liquidated in a wave of sovereign defaults.

“The challenge is thus posed immediately,” LaRouche said, “on the eve of my 3^rd December webcast, as to whether nations will act to survive. You have no choice, but to go with what I have to say on Thursday; you may not like it, but you have no other chance.”

The only way to deal with this, is reorganisation-in-bankruptcy:

“If the United States would declare its intention to join with China and Russia, in keeping with and building around their mid-October agreements, to establish a Bretton Woods-modelled credit-system, in place of the present world monetarist system,” he continued, “the world could make it. But the U.S. would have to agree to a fundamental change, and say to China and Russia that we, as a leading group among nations, should put the monetary system under bankruptcy reorganisation, and establish a new fixed-exchange rate credit system, which, while beginning with a few powerful nations—the U.S., China, Russia, and India—could expand to form the basis of a new international credit system.”

“By acting in this way,” LaRouche said, “the United States and other nations can get off the Titanic, and onto the lifeboat which I have devised. The lifeboat won’t take them to paradise, but it will provide the means for survival, rather than the road to imperial hell.

“The immediate cancellation of the neo-Malthusian Copenhagen conference, in rejection of the pro-genocidal lies of Prince Philip’s World Wildlife Fund atrocity, would be the initial step toward global sanity.”