This editorial appears in the September 6, 2019 issue of Executive Intelligence Review.
The Fight Is On
Aug. 29—To wait until the next financial crash hits before launching an all-out, tooth-and-nail fight for the LaRouche recovery program, would be to wait too long. If we are to succeed—and there is simply no choice but to succeed—we must begin now; today. Over the coming days and weeks, we are going to bring this program, not just to the Federal Congress, but to state legislatures, county government bodies and city councils, as well as trade unions and other groups. All Democratic Presidential campaigns will have to address it. We will do all this to ensure that LaRouche’s recovery plan becomes law under this President, with his support, before the world is catapulted into a new, worse depression than that which began in 2007-08.
If that new depression is allowed to unroll, along with the wars that will likely accompany it, what will be left of humanity before it ends? No one really knows.
The recovery plan relies on the proven expertise of the world’s pre-eminent economic forecaster of the 20th and 21st centuries to date, the late Lyndon H. LaRouche, Jr. (1922-2019). But to join us in leading this fight, you must master the basics of the plan for yourself—as we will help you to do through classes and discussions, beginning here.
The plan has two overlapping parts: domestic and international.
The domestic part was summed up by Mr. LaRouche on June 10, 2014 in his “Four New Laws to Save the U.S.A. Now!” Although that paper has vast implications, it is only four pages in length, and should be read in conjunction with this editorial. But to summarize the four laws for our purposes here:
The First Law is the re-instatement of Franklin Roosevelt’s Glass-Steagall law, to separate out Wall Street’s speculative junk assets from what must remain as a viable commercial banking system. Only honest banking, not speculation, will get Federal support if needed. This, rather than $23 trillion of bailouts for Wall Street’s gambling debts, was the first step that should have been taken in 2007-08. This time around, the bad gambling debts will simply be split off and written down, in a way which does no harm to the real economy.
The Second Law calls for “a return to a system of top-down, and thoroughly defined as National Banking,” referencing the model of President Lincoln’s “Greenbacks” policy. That is, the credit which the Federal Reserve and our current, sick banking system refuse to provide for uses such as industry and agriculture, will instead be provided at low interest by a Federal institution under the U.S. Treasury, subject to the limitation which follows.
The Third Law specifies, “The use of a Federal Credit-system is to generate high-productivity trends in improvements of employment, with the intention to increase the physical-economic productivity and standard of living of the persons and households of the United States . . .”
The Fourth Law calls for a crash science-driver program to achieve controlled thermonuclear fusion power, and a Moon-Mars mission leading to human colonization of Mars. Only such science-driver crash programs can provide the leaps in productivity, through scientific and technological spinoffs, which can revive our economy after decades of decay. (At the same time, this requires concurrent crash-programs of education of our largely wrecked youth and our labor force.)
The international component of the LaRouche Plan is integrally an inseparable part of it. It calls for the “Four Powers” of the United States, China, Russia and India to initiate the creation of a new world credit system (not monetary, but credit system), to replace the failed speculative financial system of the City of London, Wall Street, and the IMF. LaRouche called this the “New Bretton Woods System,” because it echoes the intention Franklin Roosevelt had for the original Bretton Woods system, while also learning from the errors committed back then.
The system will be oriented especially towards development credits which will allow massive, high-technology capital-goods exports from the “advanced” sector to developing countries. This way, both sectors will become prosperous together, as Roosevelt intended. Otherwise, like the original Bretton Woods, it will be a gold-reserve, dollar-based system of relatively fixed currency parities—without which long-term, low interest credits are impossible.
Most (but not all) contemporary historians blind themselves to the abundant evidence that Roosevelt’s whole approach began with these questions of international development. A major article concerning Brazil by Richard Freeman in this issue of EIR will set this straight.
As we campaign for LaRouche’s Plan, we will also campaign for LaRouche’s exoneration from the false charges on which he was convicted in 1988 and imprisoned for five years.
In spite of his demonization by major media, which nevertheless insisted that he was insignificant, after eight Presidential campaigns with numerous television infomercials, combined with the mass circulation of some of his writings, Lyndon LaRouche has a massive support in the United States. The proverbial 99% of these supporters are not members of any organization publicly associated with LaRouche, but they tend to be the organic leaders among their friends and associates. Alongside these older generations, many students are becoming newly acquainted with LaRouche’s ideas on campuses around the country, even now as you are reading this.
It is time now for the older veterans to join alongside the young recruits for the sort of relentless, no-holds-barred campaign rarely if ever seen in this country—one we must win whatever the odds.