Saving the planet now!: A Global "Glass Steagall"

Saving the planet now!:

 

A GLOBAL "GLASS STEAGALL"

 

by Lyndon H. LaRouche, Jr.

February 8, 2010

For any actually competent economist today, a global equivalent of a "Glass Steagall" reform was implicit in President Franklin Roosevelt's basing his 1944 fixed- exchange-rate Bretton Woods system. It was the contrary actions of President Harry Truman, made as concessions to Winston Churchill, and to Wall Street, after Roosevelt's death, which sent the world careening, step, by step, by step, into the direction of the presently terminal phase of decline gripping the world today.

The ultimate consequence of the Truman administration's concessions to London and Wall Street is, today, that all recipes known to me, for a so-called "new Bretton Woods" contrary to my efforts, have been fraudulent in effect, whether this was the intended effect, or not. Such has been today's outcome of the official suppression of President Franklin Roosevelt's anti-Keynes, Bretton Woods intention for the post-war world.

Today, without a kind of Glass Steagall reform, which would virtually wipe out the monetarist features of both Wall Street's and of the City of London's systems, the chances for escaping an already oncoming, planet-wide, "new dark age,"were virtually "zilch"!

The stunningly poor performance of the British empire's nominally Spanish, and largely Brazil-based, Banco Santander during this past week, has confronted the Euro system as a whole with a crisis for which that institution has no visible remedy in sight. After all the ifs, ands, and buts available to London's phrase-mongers have been spent, the fact persists that the present Euro system has no remedy for its presently existential crisis within the obvious present means at hand.

In fact, there is only one essential remedy, disband the present Euro system under its just recently installed, present rules. Return to a Europe of respectively sovereign nation-states, including immediate steps to reestablish the Deutschemark, and break up the conditionalities which were imposed upon Germany under the intentionally ruinous terms jointly dictated to Germany by the heads of state and government Margaret Thatcher, President Francois Mitterand, and a rather silly, but mean- spirited President George H.W. Bush.

MORE:  http://www.larouchepac.com/node/13490 

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http://savethepeopleoficeland.com/  

# 4,087:

1:45 pm PST, Feb 10, Name not displayed, Ohio
don't let iceland down! what happens to them can and will happen to all of us!

# 4,080:

6:32 am PST, Feb 10, Gunnar Thorell, Sweden
This is an outrageous, criminal act - to punish the people because of the sins of the so called "elite"

# 4,079:

5:23 am PST, Feb 10, Richard Idiens, Canada
I don't have much money, but if you were to print your owm, I would leave my money in your peoples bank, providing it is not in any way connected with the banksters of Europe or North America. I would even commit $10,000 for an Icelandic Passport.  

WECAST JANUARY 30 2010

http://www.larouchepac.com/webcasts/20100130.html