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Breakthrough in the United States: Senator Harkin Introduces Bill to Reinstate Glass-Steagall
Austrian Government: Arming the Syrian Opposition Is Illegal under International Law
Benghazi, Political Targetings, Blanket Confiscations: Impeachment Hangs over Obama
French Party Presents Draft Bill for Glass-Steagall-Type Bank Separation
Brecht aus dem Euro aus, um die Finanzoligarchie zu besiegen!
“Benghazigate”: Threat of Impeachment Hangs over Obama
Ex U.S. Defense Minister Robert Gates Opposes Intervention into Syria
Glass-Steagall LaRouche-Aktionskomitee demonstriert Stärke in Washington
Global Times: Schiller Institute Rep. Comments on “Chinese and American Dreams”
Week Of Action in Washington: Pass Glass-Steagall Bank Separation Law Now!
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EU "Banking Separation": No Glass-Steagall, and not even Separation from Liikanen Group
The report on banking separation that has been on the EU Commission's table since Oct. 3, drafted by the so-called Liikanen group, is a fraud. On the basis of a preliminary report, American economist Lyndon LaRouche commented : "Europe has a ring-fencing version or so-called substitute for Glass-Steagall. It doesn't work. It's just suicide on a slower basis."
While welcomed by establishment media and even praised by some as "a new Glass-Steagall", the report in fact calls for a ring-fencing scheme that has loopholes large enough to put a train through. Drafted under the direction of head of the Finnish Central Bank Erkki Liikanen, the report is a clear attempt to co-opt, without responding to, the growing political and popular call to put an end to the financial casino, through a Glass-Steagall type of banking separation and credit standard. Its main features, in a nutshell:
1. Deposit banks will be authorized to have up to 25% of their balance sheet or up to 100 billion euros in financial trading activities. Beyond that percentage, they will be split into two legally separated entities – a commercial bank and an investment bank – under the same holding, to prevent deposits from being used to bail out risk activities. The holding will not be permitted to siphon money from one bank to another.
2. Provided that the separation under the same roof works, the report says that the commercial bank may nonetheless provide an ample array of derivative products to its customers. Derivatives used for liability management, sales and purchases of assets to manage a liquidity portfolio and the use of foreign-exchange and interest-rate options or swaps to hedge risks should be permitted by deposit-taking banks, the group said. "[As] the proposal allows hedged trading and securities underwriting to continue, it also leaves sufficient room and flexibility for deposit banks to service corporate customers and thus fulfill their role in financing the real economy," said the report.
That means that deposit banks will continue, among other things, to sell fraudulent interest swap contracts to municipalities and companies, as well as other such amenities!
3. In order to implement this non-solution, a single European Union supervisor and a banking union should be set up.
The EU Commission is now supposed now draft EU legislation on the basis of the Liikanen report, which might even soften those provisions it does contain.
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Breakthrough in the United States:
Senator Harkin Introduces Bill to Reinstate Glass-Steagall
May 16, 2013, on the 80th anniversary of the introduction of the original Glass-Steagall Act alldopted under President Franklin Roosevelt in 1933, Democratic Senator Tom Harkin of Iowa introduced Sena... [weiter]
Austrian Government: Arming the Syrian Opposition Is Illegal under International Law
The Austrian government has issued an official position paper, now circulating among EU member states, in opposition to the British-French proposal for lifting the arms embargo in Syria. Dated May 13,... [weiter]
Benghazi, Political Targetings, Blanket Confiscations:
Impeachment Hangs over Obama
Salon.com ran a banner headline on May 14, asking "Which Obama scandal will inevitably lead to impeachment?" "The IRS, the AP or Benghazi?" Indeed, the White House was still being rocked by the hearin... [weiter]
French Party Presents Draft Bill for Glass-Steagall-Type Bank Separation
Not only the French government, but all other political forces in France, from the far left to the far right, have given up the fight against the financial casino and for an actual separation of the b... [weiter]
Brecht aus dem Euro aus, um die Finanzoligarchie zu besiegen!
Das große deutsche Magazin Focus berichtete in seiner Ausgabe vom 13.5., was wir schon schon mehr als einen Monat zuvor aufgedeckt hatten: daß die EU das „Zypern-Modell“, d.h. die Enteignung von Bankg... [weiter]
“Benghazigate”: Threat of Impeachment Hangs over Obama
A potentially historic hearing took place on May 8 before the House Oversight and Government Reform Committee on the terrorist attacks in Benghazi, Libya on September 11, 2012. Despite the explosive r... [weiter]
Ex U.S. Defense Minister Robert Gates Opposes Intervention into Syria
When Israeli air strikes against Syria on May 3 and 5 brought the Middle East and the world as a whole to the very edge of war, leading circles in Russia and the United States and China intervened at ... [weiter]
Glass-Steagall LaRouche-Aktionskomitee demonstriert Stärke in Washington
Ab dem 6.5. veranstaltete das LaRouche-Aktionskomitee eine intensive Aktionswoche in Washington, in der es auf sämtliche Ebenen der Regierung einwirkte, um den Druck auf den US-Kongreß, das Glass-Stea... [weiter]
Global Times: Schiller Institute Rep. Comments on “Chinese and American Dreams”
Since taking office, Chinese President Xi Jinping, who is also the head of the Communist Party, has sounded the theme of the "China Dream" of economic, social, and political progress, to reduce the va... [weiter]
Week Of Action in Washington:
Pass Glass-Steagall Bank Separation Law Now!
The LaRouche Political Action Committee held a week of action in the United States from May 6-10 to rally support for immediate legislation to restore a strict separation of banks, in compliance with ... [weiter]
An Urgent Appeal for Glass-Steagall from Helga Zepp-LaRouche
Helga Zepp-LaRouche, founder of the international Schiller Institute, issued an urgent appeal from Germany for the citizens of the United States and the U.S. Congress to immediately act to reinstat... [weiter]
New Greek Party Calls for Return to Drachma and Bank Separation
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Syria Crisis: Russia and United States Agree on a Major Diplomatic Move
Following a visit of U.S. Secretary of State John Kerry to Moscow, May 7, and his discussions with his counterpart Sergei Lavrov and with President Putin, it was announced that Russia and the United S... [weiter]
Syrian General Idriss, Handpicked by the West, Admits He Controls Nothing
The Free Syrian Army (FSA), it turns out, is little more than a brand name, with little substance, if any, in the Syrian opposition. The person picked by the West to head the military opposition to th... [weiter]
Alternative für Deutschland:
Eurokritik als Deckmantel für National-Monetarismus
Die neue Partei „Alternative für Deutschland“ (AfD), die im Februar als vermeintliche „Anti-Euro-Partei“ gegründet wurde, erregt ungewöhnlich viel Aufmerksamkeit in den etablierten Medien. Viele Bürge... [weiter]
AfD: National Monetarism in “Anti-Euro” Clothing
The new political party, “Alternative for Germany” (AfD), which was founded last February in apparent opposition to the Eurozone policy, has since received surprisingly wide coverage in the mainstream... [weiter]
South-West Asia on the Verge of All-out War?
Twice within 48 hours, on May 3 and 5, Israel launched missile attacks against targets inside Syria, prompting Syrian President Bashar Assad to accuse Israel of declaring war on his country, in allian... [weiter]
Südwestasien vor einem umfassenden Krieg?
Israel hat zweimal innerhalb von 48 Stunden Ziele innerhalb Syriens mit Raketen angegriffen. Der syrische Staatspräsident Baschar al-Assad nannte dies eine Kriegserklärung Israels gegen sein Land im B... [weiter]
2008-2012: Shocking Figures of Youth Unemployment Soaring in Europe and the United States
One of the most efficient ways of destroying a nation and reducing its population, short of outright killing, is to induce skyrocketing youth unemployment. It destroys the future potential of the prod... [weiter]
New Book Demonstrates "Why Austerity Kills", and Needlessly So
The European Union and the United States have imposed deadly cuts in social spending over the past years in a futile effort to bail out the bankrupt trans-Atlantic banking system. The toll on people h... [weiter]
Russian Anti-Drug Czar Proposes Economic Development to Counter Drug Trade
Over 100,000 deaths per year! That is the incredible number of Russians who die of drug addiction, with young people most hard hit. The bulk of the opium/heroin comes from Afghanistan, where producti... [weiter]