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Friends, Sign the Call for the Emergency Summit of President Trump and
Putin, Xi, Modi and Other World Leaders Now

Updated March 15, 2020

By Helga Zepp-LaRouche, President of the Schiller Institute

Click to Sign here-
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President Donald Trump has to take action, and drag the Congress along
with him if need be, to forge a New Bretton Woods credit system agreement
with China, Russia, India and other nations. Such a working alliance would
act as follows:

** The big Wall Street and London-centered banks must be put through
bankruptcy reorganization, not bailed out.* Bailouts to these banks and
their holding companies would again, as in 2008, only be passed along to
their thousands of speculative units, client hedge funds, investment
banking units, and so on. The big banks' deposit base would also be looted
to keep the speculative bubble—all $2 quadrillion of it—afloat. Instead,
restoring the Glass-Steagall Act will put these speculative units out in
the cold, while protecting useful commercial banking activity. The large
banks will have to sell off their speculative units quickly, stop lending
to them, and let them fail. Retirement funds will have that short time to
get out of these speculative investments.

** Create a capital budget for new infrastructure construction,* including
building new hospitals and other public health facilities, and the
additional electricity capacity and clean water supplies they need. There
is plenty of other new infrastructure needed as well. New Federal bonds,
construction bonds, have to be issued for this capital budget, whether by
an emergency nationalization of the Federal Reserve or simply by creating a
Reconstruction Finance Corporation backed by the Treasury. This
infrastructure credit corporation or national bank will cooperate with
those of the other founding powers in the New Bretton Woods system, to fund
critical projects worldwide and capital goods exports. The projects
directly related to COVID-19 include:

** Test kits must be produced on a massive scale,* and advanced testing
stations must be established – including using drive-through testing
facilities such as those employed successfully in South Korea and
elsewhere. There is also a grave shortage of RNA extraction kits needed for
performing the tests, as the CDC’s director Robert Redfield has warned.

** There are insufficient N95 respirator masks for health care workers, let
alone the public.* Other components of the required PPE (Personal
Protective Equipment), such as gowns, goggles and other protection, are
also not available in the necessary quantities. Production must be
increased by orders of magnitude, with the government charting the course
for the private sector.

** New hospitals must be built, with isolation and intensive care capacity,
both in the U.S and all over the world.* The COVID-19 virus is extremely
infectious and has much worse mortality than influenza. Moreover, virology
experts forecast its return over 2020-2021. Modern care ratios of beds per
thousand residents must be observed to determine the total number of
regular, intensive care and isolation (negative pressure) beds to be built.
Similarly, advanced treatment capabilities, such as ventilator units, must
also be produced and provided. Consider: China has 60% more hospital beds *per
inhabitant* than the United States. (Most other countries are in much worse
shape, and have only minimal capacities.) China added 16,000 beds in the
city of Wuhan in just one month. Remember that the United States Army Corps
of Engineers did the same thing, just as fast, in Liberia in the Ebola
epidemic in 2014. New hospitals with millions of beds *can* be built by
2020-2021 if a summit of the major industrial and scientific powers
determines to do so.

** Build sufficient electric power supply for the new hospitals.* Based on
electricity use in American hospitals, for 1 million new hospital beds
about 6 gigawatts of new electricity capacity would be needed around the
world, in about 100 new electric generating units, each of the size of a
gas turbine plant or, as soon as possible, a modular nuclear reactor.

** Provide the scientific research needed in the coronavirus
pandemic:* Scientists
have to know much more about COVID-19, even as vaccines are being tested.
This demands a cooperative effort of many countries using frontier
biophysics, nuclear biology, and space medicine from major spacefaring
nations. Dr. Robert Redfield, Director of the U.S. Centers for Disease
Control (CDC) proposes 12 research centers around the world.

*Saving human life, and improving human life, is the most important
economic mission.*