Friday morning, Deutsche Bank’s Chief Economist David Folkerts-Landau, in an interview on CNBC TV, again made his call for a bail-out/recapitalization for European banks, saying that the central bank policy is a failure, and is destroying the channel for credit into the SME sector (small and medium-sized enterprises). LaRouche, briefed on this, noted that the topic is very rational, but of the elements involved, some are known, and some are in doubt. He made a point of the significance of Alfred Herrhausen, chairman of Deutsche Bank from 1971, until November, 1989, when he was assassinated.
LaRouche said that capitalization, as such, is not an effective instrument for the situation. The values in question should be cancelled out. There is no way to get out of the mess by doing otherwise. It is like, trying to get a sick person into being a sicker person, and calling him a “sicker achiever!”
The approach itself is the problem. Deduction is always the problem. You have a swindle, a fake of a system. So, you have to go back to “go” and start again. You can’t try to “fix it.” It is not a “fix it” problem.
Consider: What is the system of economy. You have to follow what Herrhausen was establishing. He was assassinated to cancel this effort, to create the wreckage that followed. That was the purpose of the assassination. Any idea of “negotiating” some change, is a fraud.
There must be cancellation of so-called wealth, which is not fit to be called wealth. Then look at what remains. Figure out what to do. There must be a self-developing program of productivity. NOT a bargaining’ process. Go with something else. You can’t go with negotiations. You have to generate productive power, and generate increasing productivity, on a permanent basis.
The productivity ratio is the primary creation. You can’t “adduce” something by adducing it. Build something new, as a start. Cancel all forms of negotiation. You have to accept that program—of Herrhausen. Accept “his,” not “something like his.” The motive of killing him, ostensibly—by the French and British networks—was to stop this system. We must proceed by not talking of “negotiations by adjustments.” We must eliminate the present concept of finance, not “improve” the system of finance. We don’t want a “softer system.” Forget money, and think of economy, what it does for economy.
What was done by the British/French system to assassinate Herrhausen, was to prevent escape from the fraud. You can’t “fix-up” what was a fraud from the beginning. Today, we must come up with a good instrument. End what was wrong then, and today.
It’s simple: 1) Herrhausen was killed; and 2) the British and other systems were involved. They did it to shut down anything connected to him. The perpetrators intended to prevent Herrhausen, or anything like him, to ever take control. Look who is still around—George Soros, a leading problem, and British.