.Executive Intelligence Review Online
Glass-Steagall or Hyperinflation
We continue this week to present the speeches from the March 23 Schiller Institute conference, ``A New Paradigm To Save Mankind: After 30 Years, the Need for the Principle of the SDI Today!'' commemorating the anniversary of President Reagan's announcement of the Strategic Defense Initiative on March 23, 1983. (See EIR, March 29, 2013, for coverage of the first panel, which included speeches by Helga Zepp-LaRouche and Lyndon LaRouche. (Videos of the entire conference are posted at www.schillerinstitute.org). The second panel was titled, ``How To Stop the Hyperinflationary Blowout of the Trans-Atlantic Financial System through Glass-Steagall, a Hamiltonian Credit System, and the North American Water and Power Alliance (NAWAPA).'' The speakers were: Dennis Small, EIR Ibero-American Editor; Alabama State Rep. Thomas Jackson; Indiana Farmers Union President James Benham; Michael Kirsch, LaRouche Political Action Committee; and Paul Gallagher, EIR Economics Editor. The panel was moderated by Dennis Speed.}
"The fact of the matter is, that we are now in the thick of the breakdown crisis. The crisis has indeed struck. The crisis is in fact upon us, exactly as LaRouche has warned would be the case. In 2008, when the bubble burst, it was so-called ``solved'' in the exact worst way imaginable. What happened is that massive amounts of bailout money, of so-called quantitative easing, were issued, which led to a hyperinflationary blowout which has made things simply worse. And if you take a look at the first slide (Figure 1), you'll get an idea of what I'm referring to. Now, you may have seen things similar to this in our earlier presentations..."
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