American economist Lyndon LaRouche used the occasion of his participation in the June 23 LaRouche PAC Policy committee discussion, to issue a stark warning about what is at stake in the current vulture fund assault on the nation of Argentina, with backing from the U.S. Supreme Court.
“The bailout/bail-in policy is in full play now, and this attack on Argentina set this into motion,” LaRouche said. The British Empire’s trans-Atlantic financial system is thoroughly bankrupt, LaRouche said, and the situation is ripe to “explode or implode immediately. So what we’re headed for is a world war, a global world war.” In this life or death battle, LaRouche said, Argentina “cannot capitulate, it cannot possibly. Uruguay has joined them—they’re going to block. We probably will have throughout the entirety of South America, more or less the totality is going to block. This is going to be an international block,” LaRouche stated.
“Because Argentina cannot submit: it would become extinct,” LaRouche stressed. “Most of South America realizes that. They must support Argentina. Not for the sake of Argentina, but for the sake of the entire continent.”
On June 16, the U.S. Supreme Court issued a decision written by the cretinous Justice Antonin Scalia, which sided with the bloodiest of vulture funds, NML Capital and Aurelius Capital Management, in their effort to use American courts to gain discovery of all Argentine financial movements worldwide, in order to seize that country’s assets in payment for defaulted bonds. The Supreme Court simultaneously upheld a lower court ruling by Federal Judge Thomas Griesa that Argentina had to immediately pay $1.5 billion to NML Capital and other “holdouts” against Argentina’s 2005 sovereign debt restructuring, and that Argentine assets anywhere in the world could be seized to execute that payment—including the $900 million that Argentina must pay on June 30 to its other creditors who renegotiated in good faith.
Argentina has repeatedly warned that such a ruling could lead to an overall default on their debt. In point of fact, the ruling threatens to bring down the entire trans-Atlantic financial system in an orgy of predatory looting of nations, their populations, and their resources—precisely the deadly “bail-in” policy loudly trumpeted by the British Empire as their “final solution” to the bankruptcy that is sinking their system.
LaRouche also took note of the fact that Russian President Vladimir Putin, who is no stranger to threats of financial warfare against his country, has invited Argentine President Cristina Fernandez de Kirchner to attend the upcoming July 15 meeting of the BRICS nations (Brazil, Russia, India, China, South Africa), in Fortaleza, Brazil, where he also has scheduled a bilateral meeting with the Argentine head of state. The Asia-Pacific nations, LaRouche has stressed, are on an upward economic trajectory based on science and technological advance, whereas the British Empire’s trans-Atlantic system is sinking rapidly.
LaRouche stated: “Russia is not going to capitulate. Eurasia is not going to capitulate! So, in one sense, you’re headed toward a very early thermonuclear war, globally! The only solution is, throw Obama out of office now; let Wall Street go bankrupt, which is what it really is in principle. And we can proceed, immediately, in the United States, to set forth a new program, a new set of relations, and the whole mess will be under control.”
LaRouche has presented the essential points of such a program for global recovery in his June 10 document, “The four new laws to save the U.S.A. now! Not an option: an immediate necessity.”