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LaRouche: "If It's War or Revolution That You Want, Then Go Along with This Fake Volcker Rule!"
December 11, 2013 • 8:05AM

In a manic burst of activity to try to stop the increased momentum for restoration of Franklin Roosevelt's Glass-Steagall protections, Obama's Treasury Secretary Jack Lew, formerly Chief Operating Officer for Citigroup, convened all five of the Dodd-Frank regulatory bodies today, to vote up the so-called "Volcker Rule." This was a ruse concocted by Obama and former Fed Chairman Paul Volcker in 2009 to try to head off Glass-Steagall at that time. In its original form, it would supposedly have ruled out "proprietry trading," or trading on their own account by banks, under the false argument that this would have the same effect in protecting the citizens from Wall Street, as would complete separation of commercial from investment banking under Glass-Steagall. Its current form is so shot-through with exceptions as to be meaningless in any case.

What was voted up by the five bodies was a 71-page regulation preceded by a 900-page preface to explain it! Its implementation date is July, 2015, but regulators have leeway to extend that all the way to July, 2017! This gives the Wall Street banks three-and-a-half more years to fight and sue to change anything they don't like — in the unlikely case they're still around to do so.

"Just take the Glass-Steagall policy and ram it through, and supercede this," Lyndon LaRouche said. "Take the case in Detroit; what they've done there, is they've proposed genocide. And we just have to say that. Understand that what has been done by foolish people there,— they've made a fraudulent decision which has no relation to law. Judge Rhodes violated both bankruptcy law and the state constitution. Contrary to law! This is the same. What this is, is bail-in. This is a plan for mass-murder of American citizens.

"Putting the Volcker rule into that is a policy of mass murder. Volcker is an old fool, with a big mouth, but a big mouth does not indicate intelligence. Look what he did as Fed chairman; he's not qualified. We have a lot of fools who just want money, whether they earned it or not.

"It's crap; call it crap. It's not serious. It's only serious to the extent it's criminal. If a majority want to sign on, it's still a criminal act. 2015? 2017? Oh, God!

"If war or revolution is what you want, then go along with this fake Volcker Rule."


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