Subscribe to EIR Online
This transcript appears in the February 22, 2013 issue of Executive Intelligence Review.

LaRouche: Glass-Steagall Now,
Or the World Goes to Hell

[PDF version of this article]

Feb. 19—In his regular Friday webcast Feb. 15, Lyndon LaRouche confronted his audience with a picture of what the world will look like, if the Glass-Steagall banking separation which he has fought for over the last years is not rapidly put into effect. The hyperinflationary bailout which the London-centered bankers have been carrying out, will explode, and the unsustainable bailouts will end, he said, to the audience's shock. But, if the London-centered financial empire remains in control, the result will be the opposite of a Glass-Steagall-led bankruptcy reorganization: It will be genocide.

Lyndon LaRouche PAC has begun an international mobilization to circulate LaRouche's message in video form , and supplemented it with documentation, using primarily the monetarist bankers' own figures, on the levels of hyperinflation, which are leading inexorably to the collapse. Here is LaRouche's opening statement.

Well, there are several things to be taken up, which are of notable importance. Of course, one of them is what's happened in Siberia, and all over the press today, so I don't think that really is still news. I think there are aspects of it which are newsworthy, and news-important also.

However, the key thing that faces us internationally, which is still the leading issue throughout the planet, is the question of Glass-Steagall. The relevant crumb-bums have all come out and threatened people over the issue of Glass-Steagall, denying it. Now, the answer is: If Glass-Steagall were to be prevented from being instituted, the result would be the greatest hatred ever conceived against the people responsible. Because what the prevention of Glass-Steagall would cause a general breakdown crisis of the entire trans-Atlantic system.

Now, why do these idiots do that? Why do these criminals do that? Because their life, their ego, their sense of identity, is located in the great speculation which this represents. But we've come to the point that if they should act as they intend to—and I know what they intend to do—anyone should be able to understand what they intend to do; they signaled it clearly to me, and if I know it, I think some other people also know it—that the effect of their not putting Glass-Steagall through would be a general breakdown crisis of the entire world system.

Nastier than Bernanke's Operation

Now, this would include a step which would be the elimination of Ben Bernanke [as head of the Fed]. Because what they would do, is they would not try to bail out Ben Bernanke and his operation; they would do something much nastier. They would dump Ben Bernanke, dump the existing financial system itself, ignore the system they cancelled, and put in their own new system. Which would mean the vast mass of debt, which is represented by the monetarist operation, would be cancelled. In its place, they would have a new system of finances, which ignores entirely all the obligations associated with the old! Which would mean that most of the people of the world would be starving to death, quickly.

This has happened before. Certainly you had speculation in the 18th Century—you know, what was going on in the middle of the United States, or what became the United States: the great [Mississippi bubble] speculation. And what happens in a case like this: The amount of debt outstanding on account of this bailout system, a monetarist system—a financial easing, a monetary easing—it's got to be canceled. So, there will be no such money available! There will be no such reserves. What will happen will be: An international cabal will create a new system of money, which will be much smaller, much more feasibly handled than the present one.

What will happen to all the people who are excluded from the use of this more limited quantity of money? They will starve to death! And that's the intention behind what this President of the United States presently is doing. That doesn't mean he's the author of it; it means what they've signaled. Because you cannot possibly pull off what they say they intend to do; there's no way you can bail out this system—except by cancelling it, and putting in an absolutely new one.

Now, this has happened before, but on a much more limited scale. So, you can imagine the effect, that if they proceed with this operation, and were to succeed in pushing through the objections to Glass-Steagall, and are forced to unleash the debts which they're trying to hide now, it won't work. What they will simply do, is to replace and cancel the debts outstanding now under the present arrangement, and come in with much more modest ones; but they'll pay them to rich people, which means there will be still less for the people otherwise.

This goes together with the Queen's project for reducing the population of the planet from about 7 billion people to the order of 1 billion people. That's exactly what they have planned. And anyone who is going along with this opposition to Glass-Steagall from here on, is going to be denounced internationally by me and by others as mass-murderers! They'll be the most unpopular people crawling around, or slithering around, the planet. And that's exactly where we're headed.

Now, a lot of people don't want to think of things sometimes, that they think are too frightening. They are easily scared; all these pompous asses are easily scared. Just a little whimper of a donkey's bray, and they'll scatter to the winds. But those who intend to do things, such as the British Queen and other people of that sort, are mass-murderers when they think it's necessary to be so. And that's what we're faced with. So, anybody who's telling you that Glass-Steagall is not to be enacted, is actually acting on behalf of mass-murderers. And most of the people of the United States are the indicated victims, among others.

So, that's where we stand at this date. That's the issue. They've put the issue on the platter. I know exactly what they're doing, because I know how systems work. And what they're doing, the only way it will work, is to cancel the entire bailout system—just wipe it off the plate, and come in with a new system, in which people who are privileged will be brought into that system, and they will be given relatively good incomes to live on, but unfortunately the greater majority of the population will have none. This is the greatest population-reduction scheme so far in known history. And that's what the policy of the people who oppose Glass-Steagall is—whether they themselves know it or not. But they will be held accountable for the effect of that policy. And that's where we stand. And that's the main issue.

Toward a Strategic Defense of Earth

Now, we have other issues, which are of a completely different nature, which are quite popular now, because they suddenly blasted their way into our consciences, and it started in places in Russia, where suddenly, a swooping thing shot through the atmosphere at extraordinary speeds, and made a mess of things for about 1,000 people or more, immediately. What this has shown, is that the entire world system is now subject to something, from outside the immediate vicinity of the Earth, which is shooting across our bow, and requires a very active SDE/SDI [Strategic Defense of Earth and Stategic Defense Initiative] operation in order to defend humanity against effects like that, which were demonstrated in Russia today and yesterday. So, that's the other issue.

So, you've got two issues. One, the key issue is: If the opponents of Glass-Steagall continue to proceed, they're going to be among the most hated people on the planet. And I don't think the hatred will be in any sense mild. When you are taking a mass of human beings and condemning them to death, by starvation and similar means, they ain't going to be happy—and neither will the new victims, the ones who are considered guilty of this crime, as complicit in this crime.

So, they'd better get on to Glass-Steagall real fast, or there's going to be a terrible amount of bloodshed spread around this planet. And those who are saying and threatening people against Glass-Steagall, are themselves the imminent targets of vengeance.

Back to top