WALL STREET IS NOT DYING; IT IS DEAD!
Please Don't Be Silly!
by Lyndon H. LaRouche, Jr.
August 12, 2010
This is the week that Wall Street virtually died. The Federal Reserve System which was already attempting bail-outs within a virtually zero-percentile degree of hyper-inflationary, monetary bail-outs, has now declared its intention to launch the more drastic practice of copying the exact-same kind of monetary hyperinflation which brought the entire Weimar Germany economy to a general breakdown during the Summer and Autumn of 1923.
Notably, those who are pressing EIR to publish a monetarist analysis of Wall Street's chances for recovery, have been consistently wrong in all of the forecasts and suggestions which they have presented to my knowledge in the past couple of decades. Not one of the well-wishing charlatans has ever treated the post-1987 effects of Alan Greenspan's intrinsically inflationary monetary swindles from the standpoint of the only method of forecasting which has succeeded during recent decades, the method of the physical-economy-based forecasts which I have supplied over past decades to date.
For those reasonable persons who honestly wish to know the essential facts, the following were sufficient for this moment.
Following the successful U.S.-led breakthrough at Normandy, both the leading American and German generals knew that the Hitler regime was inevitably doomed. The knowledge led to a Wall Sreet-backed, and anti-President Franklin Roosevelt upsurge from the same Wall Street and London gang of financier interests who had not only hated President Franklin Roosevelt, but who had joined the Bank of England in putting Adolf Hitler into power, until the time that Winston Churchill began screaming for military and economic aid against Adolf Hitler from Franklin Roosevelt's United States. ("Don't contradict me, Bud. I was in that war and I know all the essential facts about that business very well.")
Now, since the successful June 1944 Allied landings in France, the same Wall Street and London crowd which had brought Adolf Hitler into power in Germany during the 1920s and 1930s, went back to the same pro-fascist economic and social policies as rapidly as the traffic would bear.
I was not suprised at the import of Wall Street's backing of Harry S Truman's candidacy for the Vice-Presidency. On the night the news of President Roosevelt's death reached us in the China-Burma-India theater, I replied to questioning by a group of my fellow-soldiers: "We have lived through this war so far under a great President. Now, he has been replaced by a very little man, and I am afraid of what might become of us." In 1947, I sent a brief letter to General Dwight Eisenhower, then the President of Columbia University, stating my reasons for suggesting his candidacy for the 1948 Presidential election. He replied, saying in effect, "not at this time," and, later, I came to understand his reasoning in this matter.
Coming out from the CBI theater about a year after the end of the war in Europe, I knew that that Wall Street crowd tied to London was the long-term mortal enemy from inside our nation. Nonetheless, the U.S.A. remained too powerful, and the memories of the U.S. citizenry too strong, to let Britain resume the imperial role it had played in the world since the British East India Company's imperial triumph of February 1763. So, for that reason, the U.S.A. remained powerful, until the assassination of President Kennedy cleared the way for launching the long, wasting war which a living President Kennedy had prevented. An ensuing ten years of U.S. war in Indo-China brought the U.S. down in the fashion which imperial London desired.
In Summer 1971, two crucial developments occurred under the time of President Richard Nixon's administration. First, was Arthur Burns' role in cancelling the 1944 Bretton Woods agreement. Second, was the action of Britain's Lord Jacob Rothschild in using the collapse of the Bretton Woods system to launch what became the British Imperial Inter-Alpha Group, a group whose influence presently controls an estimated 70% of the world's banking and related operations. That group, which virtually owns Wall Street presently, and also President Barack Obama and his administration, too, has brought about the uttering of virtually quadrillions of dollars of purely make-believe, Monopoly-game money in the form of financial derivatives and related outright swindles.
In the effort to sustain that gigantic, Anglo-American controlled mass of quadrillions of nominal dollars of that "Monopoly-game money called financial derivatives, or the like," to provide an urgently needed margin of support for that cancerous mass of virtual play-currencies, the chief London and allied swindlers in the likeness of Alan Greenspan have drained the remaining real issues of the U.S.A. and its citizens, outdoing those follies of Marie Antoinette and her husband which destroyed much of continental Europe through the period of the chronic Napoleonic wars.
As a result, it has been during this week that the Federal Reserve System has indicated that a state of monetarist desperation has now been reached, at which the Fed is now disposed to unleash beyond the United States itself what the British and French predators of the 1920s launched as the 1923 hyperinflationary breakdown-cisis of Weimar Germany.
Hey, buster. What does that leave silly fellows like you to discuss about analyzing the difficulties of the Federal Reserve System? What in Hell do you actually propose to do? Send funeral wreaths to Wall Street?