Subject: Blunt confrontation with the false economy generated by the world’s financial situation
Date: 26/05/2022 09:53
From: Peter Challen peterchallen@gmail.com

Fred Harrison posted this Tweet today:
Dmitry Lvov was the economist side-lined in the 90s as he laboured with Fred Harrison’s team to build a rent-as-revenue Russia without oligarchs. The institution most determined to frustrate and demolish his efforts was the IMF. So…here we all are: https://larouchepub.com/other/2001/2827_lvov_duma.html. To ensure it is widely seen and opened out, I have boldly gleaned these four paragraphs from the strong lecture he introduces, in the hope it will encourage wide readership and new collaboration in action – Peter

What disturbs me is, above all, the following circumstance. Today’s world financial system is really quite unstable; it can be depicted as a sort of inverted financial pyramid, the base of which is the real sector of the economy, which accounts for an estimated approximately 12-14% of the world volume of financial resources, while the upper, wide part of this inverted pyramid, accounts for about 67-68% [of financial resources], the lion’s share of which thus have nothing to do with the real sector, but rather involve financial derivatives, speculative operations, and so forth……………
Contradiction of Society and Nature:  When we talk about the world economy, or the market economy, we ought to recognize that when we speak about the financial crisis, it is only an echo, a distant phenomenon, whereas there is a global contradiction, which is more fundamental, and determining. This is the contradiction between Man, or, to put it more correctly, Society, and Nature………………
The Undecided Problem of Property: The main and fundamental thing, from my point of view, is a root cause, which not one Western government, never mind our government, has ever addressed. That root cause, as I believe, is the undecided problem of property: first and foremost, the undecided problem of ownership of the natural-resource potential of our planet. Not a single country in the world is able to solve these global problems today. The private ownership of what, broadly speaking, was not made by human hands, and is not the result of capital, business, or financial risks, should belong to all……………….
There’s your reserve, in plain sight. What do we have to do to get it? We don’t need any redistribution, as the President correctly emphasized, but rather just to take a simple action: Put it on the public balance sheet, put it on the books of the state. Say to the state, “Wake up, put all the natural resources on your books!” Then, if today I (“I” being the state) own 5% of some oil company, tomorrow it will be 98%. Issue shares, into free circulation in a free market! Bring those possibilities to life! You won’t have criminals; you won’t need police! Set up the vertical linkage, and everything will flow into the Treasury, which will strengthen our ruble, and industry will develop. This pathway is entirely realistic, and we should think about, and prepare the relevant decisions. Any other way, I simply cannot understand. Thank you.
by Dmitri Lvov
PS: The above is an extract from the full article – follow link above, or here for the PDF