Take Action! – Sign the Glass-Steagall Petition



June 18 (EIRNS)–{The following appeal was issued June 17, for
urgent action across Europe and the Trans-Atlantic region. It is
available in German on www.bueso.de, the site of the
Buergerrechtsbewegung Solidaritaet party.}

Appeal to Governments and Parliaments – Glass-Steagall Now!

1. All nations of the Trans-Atlantic region must enact a law
which would separate commercial banks from investment/speculative
banking entities, based upon Franklin D. Roosevelt’s
Glass-Steagall bill of June 16th, 1933. Up until the beginning of
the 1980’s, the principles of Roosevelt’s reform were in place in
European nations, in the form of strict regulation, and ensured
that the banking sector mainly took on the character of
commercial banks, and access to private accounts for risky
speculative operations was impossible.

As things stood before Glass-Steagall was dismantled in 1999
through the Gramm-Leach-Bliley Act, commercial banks must once
again be completely separated from both investment banks and the
insurance sector.

2. Commercial banks must be put under government protection,
whilst the investment banks put their books in order without any
help from taxpayers’ money, which in practice means that toxic
paper must be written off in the trillions, even if this leads to
the insolvency of the banks themselves.

3. A National Banking system in the tradition of Alexander
Hamilton, within the framework of a new Credit System, must
provide long-term credit with low interest rates for productive
investments, which would in turn increase the productivity of the
economy by promoting an increase in energy-flux density, and in
scientific and technological progress.

4. The reconstruction of the real economy should be facilitated
through long-term treaties of cooperation between sovereign
nation-states, which would launch well-defined infrastructure and
development projects in the context of the Mediterranean plan for
an Economic Miracle, seen as a necessary extension of the
Eurasian Land-Bridge. These contracts represent a de facto new
credit system, a New Bretton Woods system, in the tradition of
Franklin D. Roosevelt.

The purpose of re-enacting Glass-Steagall and implementing a
Credit System is by no means only an improvement of technical
details in banking, but rather, how the economy can ensure the
survival of humanity over a period spanning many generations into
the future, whilst increasing the productive powers from one
generation to another. Human beings must once again be at the
center, and the very purpose, of economics.

We, the undersigned, direct our urgent appeal to governments
and parliaments, that they fulfill their constitutional duty and
protect the general welfare of the populations they represent, by
immediately enacting Glass-Steagall banking separation into law.

Please sign the petition below (your details will not be visible to other visitors to this website)

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1 Response to Take Action! – Sign the Glass-Steagall Petition

  1. Pingback: Resistance Against EU Putsch Growing in Germany | LaRouche Irish Brigade

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