Effective today, the European stock market index, Stoxx Europe 50, simply removed Deutsche Bank and Credit Suisse from its listings, so that its index level wouldn’t be dragged down by the banks’ plunging share values. This is the latest expression of the reality that, not only is the Trans-Atlantic financial system over the edge, but the danger comes from the continued lying and non-action. Over the last 48 hours, many major media in Germany and elsewhere are reporting on the history of the devolution of Deutsche Bank, and cases of insolvency, but they completely evade the question: what to do. They have no answer.
Lyndon LaRouche observed that they, “look to the past.” But, for the solution, we must, “look to the future.” He stressed that the collapse of the financial system is the key issue today. In July, he proposed that there must be a public-good rescue of Deutsche Bank, on the basis of a new mandate of bank functioning and credit for funding productive activity, as was the case under former Deutsche Bank Chairman Alfred Herrhausen. Helga Zepp LaRouche issued a July 12 statement on this, “Deutsche Bank Must Be Saved for the Sake of World Peace.”
Short of that, the pretense is over, that the Trans-Atlantic banking sector is still intact, and can be tinkered into functionality.
Directly associated with the financial system blow-out, is the push for confrontation and war. There are continued war cries from the U.S. hawks, on cue from the British/Saudi axis. U.S. Air Force Secretary Deborah Lee James told Fox News on Aug. 6, that Russia is “an existential threat” to the U.S. Moreover, the “War-Hawks for Hillary” phenomenon, is in fact, a cover for Obama to conduct war on Russia.
In reality, Russian President Vladimir Putin is actively providing the leadership for a way off the current path to sure doom. Look at greater Southwest Asia. Today Putin met in Baku with Iranian President Hassan Rouhani and Azerbaijani President Ilham Aliyev, for discussions that included the “North-South Transport Corridor”–the 7,300 km corridor running from the Arabian Sea to Scandinavia; they considered a draft declaration for joint work against terrorism. Tomorrow, Putin meets in St. Petersburg with Turkish President Recep Erdogan, who told Tass yesterday that, there is no resolution possible in Syria without Russia. In Istanbul on Sunday, a mass rally in support of Turkey brought out more than three million people.
These Southwest Asia developments can be seen as part of a wider re-alignment process. In the Asia Pacific, Japan and South Korea will send significant delegations to the Sept. 2-3 Eastern Economic Forum in Vladivostock, hosted by Mr. Putin. China will host the G20 Summit on Sept. 4-5, including guest nations–Egypt, Pakistan, Thailand and others.
It is the United States which is at dead center, unmoving; and it is our historic calling to change. A critical intervention starts today in New York City, when the first issue of The Hamiltonian comes off the presses in 10,000 copies.