BEFORE THE 'BAIL-IN' DETONATOR:
LaRouche: Put Glass-Steagall Through
To Stop World War!
Feb. 15—Economist Lyndon LaRouche took the occasion of the first question, one from Washington institutional sources, at his Feb. 14 webcast, to insist: Wall Street's bail-in policy will detonate the British Empire's war drive, so Glass-Steagall must be pushed through now.
Q: Mr. LaRouche, our question this week is very direct: Please give us your assessment on the prospects for passage of Glass-Steagall. As you are undoubtedly aware, the level of financial instability in Europe in emerging markets, and here in the major U.S. Wall Street banks, is growing by the day. The impact of the Fed's even limited curtailing of the Quantitative Easing has caused tremors and reverse leverage of the carry trade in some leading developing sector countries. European banks are in deep trouble, and there is stiff resistance, particularly in Germany, to Europe adopting the Fed's hyperinflationary QE bailout policies. One London financial expert warned that if there is any attempt to go ahead with the kind of bail-in plan recently proposed by the Bundesbank, this will certainly trigger a major bank collapse. So, what are your assessments of the immediate prospects for passage of Glass-Steagall in the United States?
Lyndon LaRouche: I think that's the minor question. We have a much bigger one we're facing right now.
The question is, we know, on the one hand, that we are on the verge, within even days, of the launching of a thermonuclear war throughout the entire planet. Because if one part goes in, and it would be the British—but the key man is Obama. Obama is not really a President. He's nominally President: He's got all the legal papers that say he's President. But he is not actually reactively the President. He's the rubber stamp, or, something like a rubber stamp: maybe something less palliative than a rubber stamp. But what's happened is this.
Now, everything is tied together, and that's the key here, and most people don't understand that.
There is a direct relationship between the launching of a thermonuclear war, and the economic crisis which is going on in the trans-Atlantic community. Now, the point is, this was intimated in some of the remarks posed in this question. And that is the fact that what has happened: Things got sloppy. And Wall Street and London, which are the center of this whole activity, organized the bail-in program, as part of the bail-out program. So, the transition from bail-in to bail-out becomes crucial, because, what happens is, if this continues, the entire trans-Atlantic community goes belly-up, bankrupt.
Therefore, this has been the motive for going ahead with a thermonuclear war, assigned to President Obama. Obama is the guy who was assigned to launch thermonuclear war throughout the planet. And why do they do that? Because the British system, the British imperial system, which is the trans-Atlantic region, is about to go belly-up with an explosion of the entire system, because once they start bail-in, bail-in is the detonator of the bomb! And if that thing goes, as it's ready to go now, Wall Street's about ready to be wiped out.
Now, what's it amount to? The problem is, we've got too many idiots in Congress, because otherwise we would be able to deal with this problem quite nicely. I know how to deal with it—eh?—but these clowns in the Congress don't seem to catch the idea, they don't catch on to reality. Because they're not really people!
They don't act like people. They're not responsible, they don't take responsibility: They adapt, they think about their next election. They think about this career, that career; they think about the deal they have, they think about the money they've got in some bank, so they want to protect the bank that's got that money in it; or they don't have the money, but they think they'll get it. Hm?
And so, what you're dealing with is a direct correlation between the bail-in detonation—and it is a detonation: It will cause a chain-reaction collapse. It will obliterate the entire financial system of the trans-Atlantic region.
And that's what the timing was. That's why Obama was assigned to do what he does. He doesn't know what he's doing, he has no idea what he's doing. He's an idiot. You know, he has this thing, that the White House is divided into two rooms, the family room and the public room, and he plays basketball in between there. I don't think he washes out his jock-strap properly frequently enough. So, this clown, this evil clown, that's where his role is.
Bankrupt Wall Street!
Now, the problem is, I know the facts. I know exactly what to do, and what you have to do, is, put in Glass-Steagall now—right now. It's the moment you should put it in right now, if you have any guts at all. And people who haven't got the guts to go with Glass-Steagall right now... Don't worry about Wall Street, let 'em go bankrupt! They're going to go bankrupt anyway! Don't try to save Wall Street, bankrupt the clowns! They have nothing there.
Once they start the detonation of the bail-in demonstration—which is what it is: it's the detonator—then there is nothing for anybody.
So, we have to act all the more quickly, because you're all going to be bankrupt, you're all going to be wiped out in a short notice, if this thing goes through. So, you can get blown up worldwide—everybody can go dead—or you can be sensible, cancel Wall Street, cancel the British monarchy, and go back to Franklin Roosevelt's Glass-Steagall. If Glass-Steagall were rammed through now, I know we could stop the whole mess, because all we have to do is recognize one fact: That all the assets of Wall Street are essentially worthless.
So, why are we creating a bomb called Wall Street assets, and London comparable assets, when we know that trying to hold on to this worthless money, is the key for setting off a collapse, even a thermonuclear war? But when you understand the British Empire as I do, and understand the Zeusian system as I do, this happens.
And the problem here is, we have too many gutless members of Congress. Maybe we should remove the gutless members, and ask those to volunteer who are not gutless, to keep the government going.
But this is what this is all about. It's the greatest side-show in history. It may be the last side-show in history, unless people get on their brains again.
But that's what it is: Simply, this came on because the idea of the transition from bail-out, to bail-in: and the bail-in is the time-bomb, and the time-bomb is striking now. Everybody on Wall Street is about to go bankrupt in any case! Wall Street's about to be wiped out. Bail-in will detonate the wipe-out of Wall Street, but they'd rather die than give up on their pride, such as it is.