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Glass-Steagall or Die—
The System Is Already Dead

March 26, 2013 (EIRNS)--This release was issued today by the Lyndon LaRouche Political Action Committee.

Lyndon LaRouche today declared that the U.S. Congress must immediately pass Glass Steagall or face the consequences of the total disintegration of the entire trans-Atlantic system. He emphasized that there is no alternative to a return to the original Glass Steagall principle, and that the U.S. Senate must immediately introduce legislation identical to H.R. 129, the Kaptur-Jones House bill to restore the Glass Steagall full separation of commercial banks from the gambling operations of today's Wall Street mega-banks.

LaRouche warned:

"This country has no chance of survival without an immediate return to Glass Steagall, and if the United States goes down, the rest of the world, starting in Europe and the rest of the Americas is doomed. The U.S. is already hopelessly bankrupt. As long as we continue with the hyperinflationary bailout polices of Obama and Bernanke, you are as good as dead. The choice is between killing the gambling debts or killing American citizens, as the citizens of Cyprus, Greece, Spain, Portugal and Ireland are already being killed by willful and genocidal austerity."

LaRouche explained that we are dealing with a British imperial policy, transmitted through the City of London and Wall Street, that is based on a radical program of rapid population reduction.

"This is the policy of the British Crown, of the Queen. The goal is genocide. This is the conscious intention behind the murderous austerity measures being imposed on Europe, and already in the United States. It is literally genocide. And the only cure is Glass Steagall now. We need a mobilization of patriots for Glass Steagall, here in the United States, in Europe and around the world."

But LaRouche focused his attention on the United States.

"The immediate passage of Glass Steagall in the United States cracks the whole thing. It is vitally important that we take this action before the entire system reaches the point of breakdown. We need to pass Glass Steagall now—through both Houses of Congress, with no ifs ands or buts."