Citizens Electoral Council of Australia

Media Release Thursday, 30 May 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

The British-Obama ‘anti-Glass-Steagall’ is your death warrant

The law that U.S. President Barack Obama cooked up to deal with the financial crisis, the Dodd-Frank Act, consolidates a new global financial dictatorship to which the U.S. and all other nations will be forced to submit—at the cost of the lives of their citizens.

Click here to read a comprehensive exposé entitled “Dodd-Frank Kills: How the U.S. Joined the International Bail-In Regime”.

The Dodd-Frank Act is the anti-Glass-Steagall—Obama’s treacherous move to stop the U.S. from returning to Franklin Roosevelt’s 1933 banking separation law which established the principle that the financial needs of the people come first in the financial system, the 1999 repeal of which caused the scale of the global financial crisis.

The new financial dictatorship is run out of the Bank of International Settlements’ Financial Stability Board (FSB), but controlled from the Bank of England. (To further entrench that control the current chairman of the FSB, Mark Carney, is the incoming Governor of the Bank of England.) Australia is a member of the FSB.

The FSB has identified 28 globally active, systemically important financial institutions (G-SIFIs)—mega-banks—the failure of any of which would trigger a meltdown of the global financial system.

The reason they represent such a risk is because of sheer size of their derivatives gambling bets; they are in fact the largest players in the $1.4 quadrillion [$1,400 trillion—20 times global GDP] derivatives casino.

A failure of a G-SIFI mega-bank would cause a massive default in its derivatives obligations to its betting counterparties [other banks] that would trigger a meltdown of the entire global derivatives bubble.

The FSB has been set up to dictate the emergency response to such a crisis, so that individual nations don’t take charge of the situation and resolve it for the good of their own people.

This is because the FSB intends to enforce a financial crime against humanity: it dictates rules for “cross-border resolutions” of failed banks that ensure a bank’s derivatives obligations, including to foreign banks, take precedence over any other obligations, including to depositors!

Obama’s Dodd-Frank Act forces the U.S. to submit to this diktat.

One of the worst crimes of the 2008 GFC—of which there were many, all protected by Obama’s White House—was when billions of dollars of the bailout funds for failed insurance giant AIG were immediately channelled to the London branch of Goldman Sachs to pay out, in full, the face value of AIG’s derivatives bets with Goldman.

The FSB dictatorship intends that this crime will be repeated, again and again—with one difference:

Instead of taxpayer funds being used to “bail out” such bets, the “Cyprus template” will be used, and depositors will have their savings stolen to “bail in” the banks.

Citizens Electoral Council leader Craig Isherwood said today, “The policy is: bankrupt, ruin, starve and kill the people, to preserve ‘financial stability’.

“The institution of the British Crown exists in a nexus with the City of London, ruling over an imperial system in which the people have always borne the losses, through mass-death from poverty, starvation, disease and war. The Bank of England has devised this new regime to preserve that imperial rule.”

Isherwood continued, “Nations must stand up for their own sovereignty; they must reject monetary imperialism, and re-take control over the financial system to ensure it serves the welfare of the people. The first step is a Glass-Steagall banking separation that protects the people and the essential banking functions that serve their needs.

“The CEC is fighting alongside Lyndon LaRouche in the U.S. to destroy this murderous monetary dictatorship,” he concluded, “Join us now.”

Click here for a free copy of the May 31, 2013 Executive Intelligence Review magazine, which covers in depth the murderous Dodd-Frank law, and the fight to defeat it by restoring Glass-Steagall.

Click here to join the CEC as a member.

Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.