Lyndon LaRouche forecast the global financial crisis; Abraham Lincoln forecast the spectacular failure of the US$700 billion Wall Street bailout in the U.S Congress last night, when he said, “You can’t fool all the people all the time.”
In the face of total “consensus” among the U.S. elite—the media, Wall Street, both Presidential candidates, both major parties, and the President—that the bailout is absolutely necessary, the American people aren’t buying it, and have spontaneously risen up and flooded their Congressmen with calls demanding they reject the biggest steal in history.
This dramatic rejection by the people clarifies the situation: the only option that will work, and win the support of the people, is LaRouche’s Homeowners and Bank Protection Bill (HBPB), which is the opposite of a bailout—a government-directed reorganisation and re-regulation of the entire financial system.
Early October set for ‘greatest international financial crisis in history’
The bailout rejection and subsequent 777-point collapse of the Dow Jones Index came two days after Lyndon LaRouche warned on 27th September that the traditional bank accounting period of early October, when accounts have to be settled for the fiscal year, will see the greatest financial crisis in history occurring:
“The system is coming down. It’s not just coming down: This is the biggest financial crisis in all modern history. It’s a crisis comparable to the collapse of Europe into a dark age, in the 14th century. That’s what we’re facing this coming week and beyond, between the 10th and 15th of October.”
Multiple bank collapses in Europe over the weekend prove this is an international financial crisis, which emphatically encompasses Australia’s banks, as our own government’s actions show.
Wayne Swan’s panicked injection of $4 billion into Australia’s banking system, poorly disguised as promoting “competition” among non-bank lenders, came within hours of the initial bailout deal failing in the U.S. Congress last Friday.
Australian banks, like their European and British counterparts, are desperate for the cash expected to flow into the banking system from American taxpayers; fully one-third of the American bailout funds had been earmarked for teetering British banks.
How much was earmarked for Australia? Whatever it was, Swan was forced to inject $4 billion when it wasn’t forthcoming as expected, on top of the $35 billion parked in Australia’s banks this year by the Future Fund, and the tens of billions pumped regularly into the banks by the Reserve Bank of Australia, $2.7 billion just on Monday.
It is time for the Australian people to take the lead from our American counterparts, and direct our government to stop bailing, and start fixing—beginning with the HBPB.
For the very best leadership direction out of the financial crisis, watch LaRouche yourself first hand: tune into www.larouchepac.com on 2nd October after 10am AEST for an archived audio/video file of his very latest webcast, delivered at 1pm 1st October U.S. EST.
For a complimentary copy of 1932, the documentary which shows the historical reasons for the global financial crisis, click here.
For a full picture of why Paulson’s bailout cannot succeed click here.
