Western financial system going bankrupt: Analyst

Western financial system going bankrupt: Analyst

HomeFeaturedInterviews Sat May 30, 2015 3:52PM

Press TV has conducted an interview with Mike Billington, with the Executive Intelligence Review, in Leesburg, recent tensions between the US and China.

The following is a rough transcription of the interview.

Press TV: Mr. Billington, my question to you sir, why is Washington trying to deploy military aircrafts and ships to this region? I mean why does Washington feel it necessary to inject itself in a dispute between Asian countries?

Billington: The same reason that they have injected themselves into the confrontation with Russia and Ukraine and that is that the entire Western financial system is going through a total bankruptcy, a collapse, especially with Greece about to default and bringing down the euro and effectively bringing down the Western financial system and that is the driving ports for war.

The Wall Street Journal on Tuesday this week actually laid it all out in an editorial, in which they stated very clearly that the danger facing America and the reason that the US must prepare for war is that Russia, China and Iran have established themselves as leading forces within their region and that they are capable of forming alliances.

Now the main alliance they are looking at is the BRICS, with which Iran is also collaborating – not a member but collaborating – and that BRICS alliance, which is putting together new global financial institutions, threatening to undermine the West’s ability to loot Latin America, Africa, Asia through their IMF policies with conditionalities, with that basically not building any infrastructure, only making loans with conditions in order to extract, loot.

That is the threat and therefore Ash Carter, who of course is lying when he says China is breaking international laws, there is no international laws being broken there, and in fact, Ash Carter admits that when he admits that every other claimant to these Spratly Nansha islands has built military defenses on the islands under their control.

So, why are they threatening China? Why are they taking CNN on a military flight as a provocation in order to broadcast to the world that they are preparing for war against China? Now the Chinese know this very well. They know that they do not need a war; they do not want a war. Xi Jinping has invited the United States to join with the BRICS, with the Asian Infrastructure Investment Bank (AIIB) to return to what America once was, a nation that believed in development and progress, to build infrastructure around the world.

Press TV: Mr. Billington, you said it is not against international law but what argument is Ash Carter using when he says that building these artificial islands is against or at odds with international norms? What do you think he is trying to refer to?

Billington: He is not. He is just lying. This is typical. Look, you are dealing with an Obama administration which is run by Wall Street. So when I say the Wall Street Journal editorialized that we have to prepare for war, these are the people that run US policy as long as Obama, like Bush, is in power in United States.

Now we are in a situation. In fact tomorrow Martin O’Malley is announcing for presidency in the democratic primaries. He is campaigning in an all-out war against Wall Street. He is the only qualified candidate from either party in United States precisely because he is taking on Wall Street, which is not just an economic issue, it is a strategic issue. It is Wall Street and the city of London as Mr. LaRouche has warned over and over again who are willing to go to war to prevent the BRICS alliance from bringing the world together around development and undermining their ability to prop up this bankrupt financial system through looting, through effectively imperial policies, not only small wars like they have waged so far criminally, small wars of murder and genocide as in Iraq and in Libya and as they are doing now in Syria, but a big war, a war which forces Russia and China to back down, which they will not do.

Press TV: And what stake do you feel the US actually has in these disputed waters half away around the world in South China Sea?

Billington: Well they do have a stake, we all do, everybody in the world has a stake on all of these things but the problem is that the US under Obama is not interested in America’s interest. America’s interest would be collaborating with China in building the Kra Canal in Thailand, in building nuclear power plants across Asia and Africa. That would be in America’s interest, in developing collaboration, as Mr. Xi Jinping says a win-win collaboration between nations through development.

But the US interest at this point is dominated by the London and Wall Street banks who are bankrupt and who have no interest in collaborating in long-term development or even short-term development, only in breaking the back of this emerging BRICS alliance, which is bringing hope to the world that we can actually bring the world out of its current rush towards thermonuclear war and have a world based on principles that used to be known as the American system – development, honoring the actual human rights of each individual to participate in development and progress for their future.

The problem is reversing the insanity of the current political leadership in the United States and Europe, if we are going to stop this war.

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