Forget the bizarre claims that putting up Australian interest rates proves there is an economic recovery; the current collapse of the U.S. dollar signals the end of the global financial system.
On the 6th of October Lyndon LaRouche issued an audio statement in summary of a forthcoming paper titled, “The LaRouche Plan: Rescuing the World’s Economy”. (A pre-release version can be accessed here.)
LaRouche stated that “We’re in a real, global emergency. We’re in the situation of a global breakdown crisis.
“First of all, what is required is to put all regular commercial banks through reorganisation in bankruptcy. What will happen is, we’ll go back to the Constitution, which specifies a credit system, not a monetary system. So the act of bankruptcy will be to declare that the United States Constitution is being enforced: that we are a credit system, not a monetary system.
“Number 2: We will now take the accounts which are in commercial banks—the other banks, you can forget for the time being, but the commercial banks—these banks will be put into reorganisation in bankruptcy, such that those accounts, in the banks, which correspond to a Glass-Steagall standard, will receive full protection and will be assigned protection under the category of a Glass-Steagall qualified account.”
Worthless paper—“Bernanke money”, as LaRouche called it, will not receive protection.
“All right, now we’re going to issue credit, Federal credit, and the Federal credit will go principally into … various government projects, and so forth. It will go generally into infrastructure investments. …
“Therefore, we will use the large-scale infrastructure categories, which are our main instrument of actual recovery—we’re talking about blue-collar jobs: The basic thing is blue-collar jobs, in industry, infrastructure, and agriculture. …
“Now the urgency of this, is the fact that if we don’t do that, either within the month of October, or some time not too long after that, the whole nation will disintegrate. …
“[I]f the United States goes under, every nation, every economy on the planet, will go under in rapid-fire succession. There is no part of the world that will survive a collapse of the U.S. economy—none! …
“[T]here is no government in the world, at present, which is presently committed to do anything to save its own butt from the breakdown crisis now in process. …
“We are committed to destroying the monetary systems of the entire planet. … The world has to go to a system of nation-states, which are sovereign, which are each running as a credit system…”
Click here for more information on the difference between a credit and a monetary system.
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