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Lyndon LaRouche: Put the Financial System in Bankruptcy Reorganization

Speaking at an international webcast on June 27, leading economist and former Democratic Party presidential candidate Lyndon LaRouche laid out a frank world strategic picture. Beginning with the reality of the global financial-economic breakdown, he went into a crucial obstacle to reversing that breakdown process, which is the “Emperor Nero complex” of President Barack Obama, as reflected in his clearly insane health-care and cap-and-trade policies. But the President himself is chiefly a symptom of the fact that the world, and he, are controlled by the present-day British Empire, which is determined to maintain the current monetary system, and thus, to carry out its long-standing goal of reducing the world's population from 6.7 billion, to under 2 billion.

The decision before the American people is whether it is going to prevent such a genocide, by fighting to bring President Obama under control. There are competent people in and around the presidency, as LaRouche has often said, who are willing and able to organize a Franklin Delano Roosevelt-type of recovery (New Deal). They should be put in control, while forcing out the gang of "behavioral economists" in the White House, such as Larry Summers and Peter Orszag, who are pushing for the fascist agenda.

In his webcast, LaRouche reiterated that the priority is to put the entire financial system through bankruptcy reorganization, as a first step. All the criminal bailout measures that have been taken since September 2007, by the Bush Administration and then by the Obama Administration, have to be reversed. Rather than a monetary system, the United States must create a credit system, based on the Constitutional provision that stipulates that "nobody can utter currency, except by authorization of the Congress and the Presidency."

"That credit system is the only lawful system for creating money, which means the Federal Reserve System is going into bankruptcy receivership, and should be absorbed into a Hamiltonian National Bank. In other words, the Federal Reserve System is actually bankrupt. Put that bankrupt institution, which we have to salvage, under parental supervision, by putting it into a Hamiltonian design for a National Bank..."

"Then, on that basis, we have to create large, voted, credit allowances, for rebuilding our railroads, rebuilding our industries, rebuilding our health-care system, and things like that. That will start the wheels in motion.

"If we do that, other nations will join us. I can assure you that Russia, China, and India will probably join us, if we do that! Now, we're demoralizing them. If we do that... and get other nations to cooperate in building up an international credit system, based on national credit systems, over long term, 30 to 50 years, we can rebuild this planet. We can come out of this alive and well. We can save civilization."

Lyndon LaRouche's presentation was followed by two and a half hours of discussion, dominated by questions from leading Democrats in the Congress or advisory positions around the Presidency, who were grappling with both the questions of LaRouche's method for reversing the global economic disaster, and with the Obama question itself.

While nothing is certain, LaRouche's own evaluation of the discussion was that no one should say the Democratic Party has been crushed by the British-Obama apparatus. "There are people who are thinking, in the Democratic Party. Some were Obama advisors. Now they all realize this is a failure, a waste of time and worse. Some are trying, with me, to put a leadership together."

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