There Is A Choice--Return to Glass-Steagall!

June 17, 2010 (LPAC)-- The British Empire would desperately like to rewrite the outcome of the historic 1971 debate between Lyndon LaRouche and their toady economist Abba Lerner. You will recall that LaRouche destroyed Lerner by forcing him to explode in public that, if the fascist policies of London's Nazi-banker Hjalmar Schacht had only been adopted willingly by Germany, "Hitler would not have been necessary."

Almost 40 years later, London has deployed one of its current toadies, EU Commission President Jose Manuel Barroso, to threaten the nations of Europe — and implicitly the whole world — with the same message: If you don't implement fascist austerity yourselves, we will be forced to implement fascism. You have no choice.

Barroso delivered the threat at a June 11 meeting with trade union leaders from across Europe, as the entire Eurozone banking system is visibly imploding, exactly as Lyndon LaRouche has warned would be the case with a June-July global financial meltdown. According to John Monks, the head of the European Trade Union Confederation, Barroso told them that Spain, Portugal, Greece, and other nations had to go all the way: "Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know them as democracies. They've got no choice; this is it." Monks added that Barroso's "apocalyptic vision" meant that "we're heading back to the 1930s, with the Great Depression and we ended up with militarist dictatorship."

Lyndon LaRouche responded that people uttering this kind of nonsense are either stupid or lying, and in either case, should be excluded from all policy making.

"This is crap. There is a choice. All you have to do is get rid of the phony debt. Cancel it altogether! Then you go back to a standard, regulated banking system, as established under Franklin Roosevelt and his 1933 Glass-Steagall legislation. Just cancel the phony debt, or put it in a place where it can die peacefully. Get rid of financial derivatives. We don't have to pay the debts we don't owe."

And those who are preventing an immediate return to a Glass-Steagall standard today should simply be removed from office — starting with President Obama and Rep. Bailout Barney Frank.

Barney's political days are numbered, now that LPAC-TV will release the real story of how Glass-Steagall was finally revoked in 1999. The operation was first orchestrated by the British out of their JP Morgan financial house, which in 1984 issued an internal pamphlet calling for "Rethinking Glass-Steagall." None other than swindler Alan Greenspan was a JP Morgan director at the time. Greenspan later went on to head the Federal Reserve system from 1987 to 2006, where he oversaw the formal repeal of Glass-Steagall, as well as the general destruction of the U.S. economy.

Today, Bailout Barney has been assigned the task of riding shotgun for London, to try to make sure that Glass-Steagall is never reinstated. But there is a growing clamor across the country for the adoption of Lyndon LaRouche's Glass-Steagall resolution, as spearheaded by the Brown, Rogers, and Shields campaigns.

That increasingly educated mass strike ferment should all be pulled together around Lyndon LaRouche's international webcast 10 days from now, on Saturday, June 26.

Lyndon LaRouche was right about the financial collapse!