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Citizens Electoral Council of Australia

Media Release  Thursday, 18 April 2013

Craig Isherwood‚ National Secretary
PO Box 376‚ COBURG‚ VIC 3058
Phone: 1800 636 432
Email: cec@cecaust.com.au
Website: http://cec.cecaust.com.au
 

CEC represents Australia at international conference on Glass-Steagall

Citizens Electoral Council leader Craig Isherwood led an Australian delegation that represented Australia at the 13-14 April Schiller Institute Conference in Frankfurt, Germany on A New Paradigm for the Survival of Civilisation.

The conference focused on the global necessity for a complete reorganisation of the international financial system around a Glass-Steagall separation of essential banking services from the toxic and dangerous derivatives bets run up by investment banks. The conference coincided with a series of state legislatures in the United States unanimously passing motions of support for Glass-Steagall, and calling on the U.S. Congress to pass the Glass-Steagall bill currently tabled in the House of Representatives, House Resolution 129.

Isherwood briefly addressed the conference on the CEC’s fight to get Glass-Steagall enacted in Australia before Australia’s banks collapse under the burden of their collective $20 trillion exposure to the derivatives bubble.

The Schiller Institute conference culminated in the unanimous endorsement of the following resolution, entitled, “Either Glass-Steagall, or Chaos and Genocide:”

“We, gathered here in Frankfurt, Germany, representing countries from all continents, give our full support to the immediate voting up of a Glass-Steagall Act in the United States, both in the House of Representatives and the Senate, in line with the Marcy Kaptur-Walter Jones “Return to Prudent Banking Act” HR 129.

“We are all convinced that it is a matter of life or death, and that it is only a Glass-Steagall Act in the United States that can stop the genocidal policies of the world-monetarist system, and that it is the necessary weapon to break the chains of the British Empire. [In short]: It is either Glass-Steagall, or chaos and genocide.

“We in our respective countries are therefore committed to lead that fight for a Glass-Steagall principle, both in the United States and within each of our nations. Glass-Steagall is only the first step. We must also replace the present monetary system with a public credit system in the tradition of Alexander Hamilton, based on national banking, in order to finance the reconstruction of the world economy. This includes [nations having] sovereignty over their own currency. If mankind is to have a future, we must end the present policies of conflict resolution through war, and agree on the common aims of mankind, such as overcoming poverty on Earth, and defending the planet against the very real dangers from outer space through the policies of the Strategic Defense of Earth.

“The immediate implementation of Glass-Steagall, however, is the absolutely irreplaceable mandatory first step, without which none of the other objectives has any chance of realisation.

“Our common development is the new name of peace and the only alternative to thermonuclear war.”

Click here to order a free copy of the new pamphlet Glass-Steagall for Australia.

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