The Bush/Paulson $700 billion bailout had an immediate impact on Monday, crashing markets all around the world. In Australia, hundreds of thousands of retirees and pre-retirees have now joined farmers, mortgage-stressed homeowners, and pensioners as victims of the economic collapse, having lost hundreds of billions of dollars in superannuation.

Yet what is our Government doing? Kevin Rudd is taking his lead from the dumbest president in history—save the bankers, and screw the people! The Government that can only “watch” fuel prices, food prices, homeowners, and pensioners, bends over backwards for bankers. Is this what you expected when you voted for him? The only approach that will save the people from ruin and a new dark age is Lyndon LaRouche’s proposal for a complete reorganisation of the financial system, which is premised on the understanding that there is no way that the financial system in its present form can be saved.

By contrast to Rudd and his “leader” Bush, many other nations, particularly in Europe, are turning to LaRouche’s New Bretton Woods reorganisation:

• On Sunday evening, Russian National TV’s Vesti Nedeli (News of the Week) program, watched by 70 million viewers, chose to broadcast LaRouche elaborating on his Rooseveltian, New Bretton Woods proposal, as the solution to the international crisis: “This system, in its present form, is virtually extinct. This system will not live out, probably, this year. By the first of the year, we may have a broken-down international financial- monetary system. The question is, what is the alternative to a collapse? It means a reorganization, on an emergency basis, of the entire international monetary-financial system. It would require that the United States would have to go to the three largest nations, outside itself, which would be Russia, China, and India. If [they] agree on reorganizing the international financial-monetary system, we could solve the problem. This would mean going to a Roosevelt approach, to a kind of new Bretton Woods system.”

• French President Nicholas Sarkozy is leading moves in Europe to scrap the deadly constraints which the Maastricht Treaty imposes on the national governments of Europe, and initiate a government-run, Roosevelt-style reorganisation of the financial system. His initiative is being taken up by the G-14, which includes the G-8 and China, India, South Africa, Brazil, Mexico, and sometimes South Korea, Australia or Nigeria. LaRouche commented: “There’s a complete coincidence between what the Russian TV quoted from me, and the policy and the circumstances of the policy that has now essentially gone through in Europe, as the outlook of Europe, and that is coming out of the G-14 grouping. So the whole G-14, implicitly by this broadcast and by the things coming from France and so forth, is saying that the entire system is going through reorganization, and that it’s going towards a Roosevelt-style system, a Roosevelt-style reform... The Europeans are acting. They are acting their way: not my way, but their way. That’s what is happening. There is an agreement that the present IMF system is implicitly dead—that we’re going back to something like the Roosevelt system—and that is coming from sources such as the President of France. It involves not just Europe, it involves also the G-14.”

Australians must decide: Bush, or LaRouche? Bankers, or the people? We must insist that the Rudd Government stop copying the Bush banker-bailout policy, and reach out to collaborate with the G-14 moves to reorganise the system.

What you can do

The first step in a reorganisation must be an emergency firewall to protect the people. This is the intention of the Homeowners and Bank Protection Bill. Read the petition, sign it and fax it to your Federal MP this week. A LaRouche Youth Movement/Citizens Electoral Council delegation will be in Canberra next week, to meet MPs and push for the bill to be tabled in Parliament.

More information on the Homeowners and Bank Protection Bill is available by clicking here.

Click here to join CEC as a member.
For a complimentary copy of 1932, the documentary which shows the historical reasons for the global financial crisis, click here.