From Volume 5, Issue Number 47 of EIR Online, Published Nov. 21, 2006

This Week You Need To Know

A Design for Legislation

Saving the U.S. Economy

by Lyndon H. LaRouche, Jr.

November 10, 2006

The saying goes: "Do not speak of the rope in the house of the hanged."

It might also be said: "Do not speak of the onrushing, global, financial breakdown in the presence of members of the Houses of Congress."

Nevertheless, the time has come to speak, urgently, of what had been often treated, until now, as unspeakable truths.

Now, the most recent equivalent of the 1929 "Hoover Crash" had already occurred nearly two decades ago, as the October 1987 Wall Street stock-market crash. The doses of hyperinflationary floods of financial derivatives' bubbling, under the predatory reign of Federal Reserve Chairman Alan Greenspan, as combined with the gains from picking the bones of the former Soviet bloc chicken, put off both the official and popular reckoning with the financial reality of the 1987 crash, but only temporarily. Greenspan's reign transformed what had been a "cyclical" form of economic depression within customary former investment markets, into what has now become the rumble of the global breakdown-crisis which looms immediately ahead today. The time of reckoning has arrived. This presently onrushing global monetary breakdown-crisis can not be reformed on its own terms; the present global system must be quickly, entirely replaced. As long as the attempt were made to save that infinitely unpayable mass of the fraudulent financial derivatives associated with the global "carry trade," efforts which might seek to do no more than reform the present system in its own terms, would ensure the planet's collapse into a prolonged, genocidal "new dark age." This would be a collapse comparable to Europe's Fourteenth-Century "New Dark Age," but, this time, on a global scale....

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