From Volume 4, Issue Number 52 of EIR Online, Published Dec. 27, 2005

Latest From LaRouche

More on Rohatyn

by Lyndon H. LaRouche, Jr.

Erbenheim, December 18, 2005

Reports on some European reactions to my "Tale of Two Bozos" [See InDepth, this week], say that some of the locals there complain that they do not understand the substance of my objections to Felix Rohatyn's latest scheme for luring and looting prospective investors. The problem is not that they do not understand; their problem is that, for special reasons, they do not wish to understand what should be quickly obvious to any intelligent and literate adult person.

The motive for those complaints, is, simply, that very few Europeans wish to know the fundamental difference between the American System of political-economy, which is based on a system of state credit, and European monetary systems, such as that of John Maynard Keynes, or the system of allegedly "honest money" proposed by the inherently dishonest, American traitor, fascist, and certified lunatic, Ezra Pound. Prevalent ideas about money and credit, throughout Europe today, remain crafted in Europeans' self-inflicted habit of following the Venetian tradition of usury. Therefore, they do not know that difference between a credit system and a monetary system, simply because they do not wish to know that difference.

I repeat: the problem is that the typical European, especially most among the professionally educated ones, either do not know, or do not wish to know, the difference between a system of productive credit, such as the American System, and those states of misfortune known as the current European ideas of a monetary system.

To make the relevant point clearer, this difference between American and European customs, also accounts for one of the principal reasons so many Europeans were lured into accepting the fascist economic systems which the Synarchist International's concert of private bankers installed on that continent during the 1922-1945 interval. So, Americans familiar with the rudiments of economic matters, have an instinctive aversion, as I do, and, apparently as former Federal Reserve Chairman Paul Volcker does, to the aromas of the Synarchist tradition at the center of all Rohatyn's more notable past and present schemes. Volcker and I disagree on some significant points of policy, but as cultured American professionals who know the American System, we quickly identify the Synarchist stench radiating from Rohatyn's schemes, as even educated Europeans usually prefer not to do....

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