LaRouche Issues New General Forecast
June 23, 2011 (EIRNS)—Lyndon LaRouche today issued a new general forecast on the prospects for the blowout of the world financial system, if the U.S. Congress does not immediately move to implement Glass-Steagall. Referencing in particular the bankruptcy crises of the U.S. states, most of whom have to balance their budgets by June 30, LaRouche said the following:
"We are at the brink of a global, chain-reaction collapse of the present international, trans-Atlantic system. A probable date for this, unless the Glass-Steagall law of 1933 is restored by emergency legislation, is a date presently scheduled in the U.S.A. Part for about July 10, 2011, or, at whatever time the Constitutional closing date for the resolution of the date of the states' reckoning on the resolution of their part in the matter.
"In any case, the present world system will go into a collapse unless the 1933 Glass-Steagall law is enacted. Even if adjustments of the deadline, shifted by some fraudulent pretext in the name of Constitutional law, might affect the exact date of the chain-reaction collapse, the attempted shift of the date of the deadline would only slightly delay what were otherwise inevitable.
"For precisely that reason, the foolish declaration from the U.S. Senate has put us in this bind, by postponing the action for removal of President Barack Obama. If the Senate wishes to make me the folk hero they have feared I might become, nothing will help them, or the present trans-Atlantic system, were the Senate's Democratic leadership to fail to take the option which they have failed to enact.
"This is an understandable mental weakness among otherwise respectable leaders in the Senate. They have been disoriented by the reality that they tend to consider political decisions as like competitions which season the attention of politics as like a sports-field, rather than serious government concerned with the destiny of a nation and nations. That was the Senate leadership when it should have acted properly on the matter of the impeachment of the incumbent President. Children rooting for sports-teams, rather than the fate of nations."