Glass Steagall – The American Credit System – Physical Economy

Introduction:

The chief concern at present is the re-establishment of public credit as a source of investment, and to replace our currently failing monetary system with a system of legitimate economic practice.

In abandoning our original Constitutional systems of public financing and credit, in favor of monetary gain and deregulation, the “new money economy” was maintainable only for a certain period of time as the physical wealth, created under the direction of our original Constitutional credit system, was worn out and liquidated as a process of physical attrition. This “new money economy” operates directly in opposition to our original Constitutional credit system, which operates according to a future state which the present is striving to create.

The ignorance of the populace respecting both the history and the nature of the credit system, as it was used by Franklin, Hamilton, Lincoln, Roosevelt, and Kennedy, combined with the backward education and propaganda campaigns (funded mostly by Wall Street), has always been the cause for these periods in which Wall Street and foreign or corporate interests take over the United States — periods which must be broken away from with a reassertion of the credit system and the investment in great projects, as it was under those administrations just mentioned.

The following page is built around the steps that must be taken to re-establish the American System of Credit, and to begin the reconstruction of our economy with NAWAPA XXI. Without this direction, we have no credibility to build an economy on which anyone can depend.

The Alternative to Hyperinflation

The attempt to pay back the trillions of dollars in speculative debts have plunged the world into a deadly spiral: the more bailouts that we administer, the more hyper-inflationary the system becomes. We are on a short time scale; this system could blow in the immediate days ahead, if urgent action is not taken.

These are all the necessary steps to be taken, all of which are subsumed and guided by the building of NAWAPA XXI.

For a complete pedagogy on Glass Steagall, the American Credit System and physical economy, go to the new feature pages on the LPAC Website

This entry was posted in Economy, LPAC, Lyndon LaRouche, NAWAPA XXI, Republicanism and tagged , , , , , , , , , , . Bookmark the permalink.

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