Drama Infernale ... and LaRouche’s Deutsche Bank Initiative as the Only Way Out
[PDF version of this editorial]
July 17—The world is facing a Drama Infernale, the lead article in the economics section of today’s edition of Germany’s Welt am Sonntag stated in its headline. Not only is the Italian banking system about to blow apart, with 360 billion euros in non-performing loans, but the entire European financial system is bankrupt as well—with derivatives-laden Deutsche Bank at the top of the list—they report nervously.
But the reality is far worse than even that alarmed account suggests. The entire trans-Atlantic financial system has come apart, Lyndon LaRouche noted in a discussion with associates this weekend, and reported at the outset of the July 16 Manhattan Project Dialogue. As LaRouche PAC’s Dennis Speed summarized LaRouche’s comments:
The system does not allow for any one point of safety. Don’t depend on rational responses from some group. This thing is on the verge of a general global crisis. Therefore, the behavior of people is that they are absolutely panicked; you aren’t going to get a rational response at this point. Don’t try to depend on anyone, don’t try to select any individual. This is an emergency situation, with an emergency problem and we have to address it from that standpoint.
That emergency action centers on LaRouche’s call to use a one-time rescue reorganization of Deutsche Bank, based on the principles of the assassinated banker Alfred Herrhausen, to ignite a bankruptcy transformation of the entire trans-Atlantic financial system and unleash actual human productivity.
In further discussion on Sunday, LaRouche stated:
We have to have an affirmative policy of hyperactive productivity. You have to create productivity, real productivity, not somebody holding their money, or their betting money. And the question is: Are we going to create the elements of productivity which are needed in order to get free of what has happened to us by the people who have tried to suppress things and avert things all along? That’s where the problem comes. And therefore if you don’t assert a policy based on those principles, you are just going to find yourself in the same old mess again.
We’ve got to affect all persons, because if they are not in concert in terms of what they are concerned about, then you have anarchy. And that’s going back to zero, or less than zero. That’s the problem. This is the issue. This is what you have to respond to. If you are not responding to that, you are nothing, you have completely thrown away all kinds of rationality. And that’s the only way you can deal with it.
In our international campaign to implement LaRouche’s dramatic Deutsche Bank initiative, Helga Zepp-LaRouche noted, we are running into unexpected levels of rage in the population across Europe against Deutsche Bank and all bankers, rage which gets in the way of their comprehending LaRouche’s call. She noted:
In Germany we had an unprecedented, really unexpected wave of hatred against Deutsche Bank. Conservative industrialists, long-term supporters (whom you had never expected to say something like that), they had a completely violent reaction and said: ‘Let them go bankrupt! Shut them down! Why should we spend another penny to save these criminal crooks?’ And I think that is what people are not fighting through.
Because the Herrhausen principle is not just saving Deutsche Bank; it’s with a gun to the head saying: Either you accept the paradigm shift or you all go under, we all go under with you. But if you want to survive, you have to accept this shift. And if we had an international campaign—which we have a little bit—but if we had a real campaign, the pressure would get greater on the German government, which is the place where the pressure has to end up.
Lyndon LaRouche likewise stressed the importance of the Deutsche Bank reorganization policy:
Emphasize that again, because that’s the story. That’s exactly what you have to deal with, and that’s what you have to fight against.