The European leadership is panicked about the rapid collapse of the banking system. Italy is blaming Germany and Deutsche Bank, Germany is blaming Italy, while Wall Street complains about the Europeans undermining the fake “recovery.” This is dangerous and psychotic nonsense. We are experiencing the breakdown of the entire trans-Atlantic banking system, not just some part of it, and no solution exists outside of the immediate creation of laws in Europe and the US to facilitate a new, Hamiltonian financial and economic order. The $2 quadrillion in derivative gambling debt must be written off, and the commercial banking system recapitalized to do its legitimate job, directing credit into reconstructing the world economy.
The fact that both the Republican and Democratic parties have placed passage of Glass-Steagall into their electoral platforms has sent Wall Street into conniptions, terrified that, as Barrons reports, “there is an unappreciated risk that Glass-Steagall could be reimposed in 2017 or 2018, regardless of who wins.” The fact is, the momentum for Glass-Steagall is not coming from the already failed candidates, nor from the failed parties they represent, but from a shift in thinking in the population in the direction of the LaRouche movement’s decades long fight for Glass Steagall.
The same is true of the release of the 28 pages on the Saudi role in international terrorism, a fight led by the LaRouche movement. The population had been lulled to sleep about the danger of Bush and Obama’s overt support for terrorists to achieve their “regime change” objectives, and also about the reality of the economic disintegration of the entire western financial system under the casino approach to banking. Now that neither can be covered up, the truth is finally in the public eye.
As the emergency statement of July 12 by Helga Zepp-Larouche states about the pending collapse of Deutsche Bank, there must be “an immediate reorientation of the bank, back to its tradition which prevailed until 1989 under the leadership of Alfred Herrhausen.” Mrs. LaRouche emphasized Monday that Herrhausen was assassinated in 1989 because he was responding to the unfolding collapse of the Soviet Union with a new policy, based on a higher concept of Man and Mankind’s common aims. He posed an immediate mobilization of the Western economies to launch infrastructure and industrial reconstruction in Poland, and eventually across Eurasia — precisely as Lyndon LaRouche had identified in his famous Kempinsky Hotel press conference in Berlin in October 1988.
The British Empire and its satrapies could not tolerate that new paradigm, and with Herrhausen’s elimination, launched the transformation of Europe into a centralized dictatorship under the 1992 Maastricht Treaty, under a banking system which put profit maximization through speculation ahead of human development, while provoking endless wars. That process has now brought the entire system to ruin.
Lyndon LaRouche today reiterated that Germany, the US, and every other Western nation must immediately create new legislation to change the system — the entire system — back to Hamiltonian banking of the sort which Herrhausen practiced, and begin immediately generating credit to the full carrying capacity of the national economies of the trans-Atlantic region.
While the dangers are multiplying — of terrorism, war, financial collapse — so also are the breakthroughs, as with Glass-Steagall and the 28 pages. With China and Russia leading the world towards a new paradigm based on global development and cooperation against terrorism, now is the time to turn the US back to its Hamiltonian roots, to join with our natural allies, Russia and China, as we did in defeating fascism in World War II, and as we must in defeating the new fascism today coming from the City of London and Wall Street.