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LaRouche Emphasizes Need for Glass-Steagall, as LaRouche PAC Policy Committee Returns to Washington

Sept. 10, 2013 (EIRNS)—The LaRouche PAC Policy Committee, the team of six leading young LaRouche PAC organizers, will return to the nation's capital this week, to press for the emergency actions needed to move the United States off the course for war, and onto the path for a true economic recovery.

In his Sept. 6 webcast, broadcast by LaRouche PAC, economist Lyndon LaRouche forcefully introduced the necessity that Congress move quickly to put through Glass-Steagall:

"We're on the edge of general breakdown crisis of the economy of most of the world. Particularly between Europe, the trans-Atlantic region, into the United States and so forth, it is most notable. In fact, in terms of Wall Street, there is no chance that Wall Street could actually survive in the coming months over that course of time, because they are intrinsically bankrupt. And any further collapse of the economy in general will also be multiplied as a collapse in the Wall Street organization. It's obvious that the intention of the higher Wall Street ranks, like those of the British Empire, is that they are planning to cancel most of the debt of the United States and other nations now. And that will mean it will reduce the thing to a very small fraction of the people that are being carried on the books at this time. So, that's where we stand generally.

"Now, there are a lot of lies on the part of Wall Street—I guess they're very good at lying—they've become specialists at that. But the point is, there's no way that we can, under the present conditions and direction, or could, sustain Wall Street. We couldn't. Unless Wall Street were to reduce its own size, with its own version of a bail-in, so they could bail in the whole bunch of their friends and neighbors up there. And that's what the situation is.

"So, the problem is far different than it might appear to be on the surface, in terms of what newspapers and others are saying today. Therefore, we have to take an entirely different view of the matter than what is apparent in the newspapers and whatnot.

"This system can not survive, and what this coincides with is the Queen of England. The Queen of England is operating on the assumption that, under her regime, she is going to bring about a reduction of the human population from 7 billion people to 1 billion or less. She's committed to that; she has the machinery in motion to do exactly that. Which means it's a general intention to reduce the population of the planet massively, and this is already in process in Europe; it's in process in the United States, and in process elsewhere. ...

"So, for political reasons, the motion is to try to pretend that everything is going to be normal, plus a few changes in law. But that will not work. The more likely case is that Wall Street will be forced to go bankrupt, because they're already at that stage now. There's no way of avoiding it, but that will mean that things are going to change rapidly. And unless we have a completely new approach to things, instead of what's going now, this system is going to crash in the worst possible way. There's no way that humanity can get by this thing safely through the first of the year, under the present conditions.

"However, on the contrary side, the factor is, if we put Glass-Steagall into play, properly as we've intended to do so, we can solve this problem—except for the shortage of food—rather nicely. And that's exactly what we intend to do.

"So therefore, the answer is, if we succeed in pushing Glass-Steagall through successfully, then the nation will survive. If we're not successful in doing that, the nation will not survive; at least not as we have known it heretofore. So that's the thing. We've got an alternative. You pick up Glass-Steagall, support it, and the nation can survive. If you don't, if you want to stick to the old Wall Street system, well, most of your Wall Street comrades will die anyway, of hunger or whatever they die of, and the situation of the people of the United States will be miserable."

LaRouche's address also highlighted the need for the impeachment of Wall Stree/British tool Barack Obama, and for establishing the Hamiltonian credit system required to revive the economy.