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Intense Discussion of Infrastructure vs. Wall Street’s Disasters; Opening to the Belt and Road Initiative Is Critical

Sept. 29, 2017 (EIRNS)—On Aug. 31, the LaRouche Political Action Committee said in a national mobilization statement on "‘Natural’ Disasters Made on Wall Street," that America needed "action, and action now" to build the new infrastructures which could have prevented those disasters.

Three major American metropolitan areas—New Orleans, New York, and Houston—had been devastated in little over a decade by the lack of protective infrastructure engineered decades earlier, but never built or even begun, due to Wall Street’s increasing control of U.S. economic policy for the past half-century. Since that mobilization was launched, new ‘natural’ disasters have struck, far the worst in Puerto Rico, whose entire infrastructure of power and transport and much more has been destroyed completely.

The first beginnings of a paradigm shift have been provoked. In the White House, sources say that an intense discussion is taking place of the "trillion-dollar infrastructure-building program" now stalled for nine long months on the Trump agenda. President Trump himself said today on Twitter, "The fact is that Puerto Rico has been destroyed by two hurricanes. Big decisions will have to be made as to the cost of its rebuilding." "The fact is that Puerto Rico has been destroyed by two hurricanes. Big decisions will have to be made as to the cost of its rebuilding."

The President "swung strongly away last week from the model of public-private partnerships to build projects," one source said. And a Democratic Congressman reported President Trump committing in a meeting to public funding of the entire program, although undecided on how this would be funded.

"Action, and action now" on new infrastructure projects, for both productivity and protection, has entered the minds of elected officials, as EIR representatives found even in offices of Congress during this week. Mentioning the very subject was able to start unscheduled and sometimes lengthy meetings with senior Congressional staff and/or members. As intense as the focus often appeared, an idea of really creating—thus, financing—this new infrastructure and technology was utterly lacking.

Here is where the link-up with the China-launched Belt and Road Initiative, which "is building major new infrastructure projects across four continents," was proposed as critical by EIR representatives. This link is the clear solution, but means that an United States national credit institution, lacking for 60 years, is as vital as a national capital budget, not used for 45.

What EIR proposed was specifically a Hamiltonian national bank for infrastructure and manufacturing, by which $1-2 trillion in outstanding Treasury debt would be exchanged for longer-term equity in the Bank, and similarly large volumes of credit issued as currency by the Bank for the productive, and pressing, high-technology new infrastructure. Such Treasury debt for national bank equity could immediately involve large foreign holders as well—China and Japan—as can easily be confirmed. This helps open the American door to the New Silk Road, and to great projects both here, and bridging to Mexico/South America and to Canada/Alaska/Eurasia. Finally, to joint reconstruction of Mideast nations destroyed in Bush and Obama’s wars.

The idea, combined with Glass-Steagall reinstatement and space and fusion science "drivers," had been presented time and again in many Congressional offices but seemed, this week, to be "heard" for the first time, and as something new and surprising. "Who’s against this?" was a frequent question. "Wall Street and London" was the answer.