This morning Lyndon LaRouche held an emergency conference call on the exploding banking system, the video of which can be seen here. The dialogue served as a preview of LaRouche’s next webcast, which will occur on 1st of October; if in fact the U.S. economy has not entirely disintegrated by that time.
LaRouche made it clear that the bailouts of the last fortnight, from Fannie and Freddie, to Merrill Lynch and now AIG, are making the financial crisis worse, and have brought about a hyperinflationary process. “One or two more such cases, and the entire system can blow out.”
“What should have been done, is, these entities should have been put into bankruptcy reorganisation, not liquidated, not bailed out.”
It is clear that the bailouts cannot last. A global derivatives bubble worth around $700 trillion or more could not be bailed out by a global economy worth less than $70 trillion. Just today, the Federal Reserve has approached the Treasury for its own bailout, to the tune of an additional $40 billion, which will not go far.
The question for Australians is, who amongst our so-called “leaders” have you heard discussing any actual proposal to deal with this crisis? Now is not the time for mere commentary, which is all we are hearing at best. Bereft of any ideas of their own, now is the time for them to accept LaRouche’s solutions.
Don’t sit back while your savings, your super—your very future—go up in smoke! Demand your local, state and federal leaders take action now to keep the banks functioning in the only way which will work—by implementing the Homeowners and Bank Protection Bill. Click here to receive an organising pack of New Citizen papers, posters and DVDs to alert your community to the only solutions that will save their hides.
