LaRouche's Action Program
June 10, 2010 • 9:14AM

June-July is the breakdown point for the entire global financial system, unless immediate remedial action is taken to establish a global Glass-Steagall reorganization of the international financial system.

"Sez who?"

Says Lyndon LaRouche, the world's foremost physical economist and forecaster, who has been right on every such forecast he has made over a half century to date. So, ignore his current advice at your own peril,... and that of all humanity.

We need legislation now, LaRouche stated. We need a U.S. Glass-Steagall restoration now, and then we can proceed immediately to international cooperation, to establish a fixed exchange rate system. The U.S. cannot survive if the world goes down, and the world cannot survive if the U.S. goes down. So we must have Glass-Steagall and a fixed exchange rate now!

That means we need an immediate Action Program on three points:

1. The entire financial system is coming down, chiefly through the cumulative impact of the monumental derivatives bubble. Therefore, we must go against derivatives immediately, by passing Glass-Steagall. We need functioning commercial banks, and where needed the Federal government will step in to provide protection so that essential banking services are maintained.

2. We must get cooperation on the same policies from European and other nations, meaning we need an international fixed exchange rate system.

3. We must get Obama out of office now, or else none of these urgent actions are possible.

There is no time for dawdling or second-guessing on any of these necessary actions. People must understand that the threat is immediate, and that there is no time to ask: "But will this work? Isn't there something that might be better? Isn't there something that's a little easier for people to accept?" We have to make this work in the short term, LaRouche emphasized, because the whole system is coming down. The Titanic is sinking, and this is the only boat available. The breakdown crisis is upon us, and there is no room for fooling around. We need the LaRouche Action Program now.

LaRouche also warned against the trap of talking to "influential" congressmen or others about what will and won't work. They will try to convince you to fight a battle that "can be won"; and if you do that, then you meanwhile lose the entire war. There are various bills before both houses of Congress which call for a return to Glass-Steagall. But we are not going to mobilize around a particular piece of legislation. It would be a serious error to pigeon-hole this fight into a particular piece of legislation, particularly knowing what we do about the White House pressure, and the whorish corruption of Reid, Pelosi, Dodd, Frank, et al., and that the single biggest impediment is the continued presence of Obama in the White House—which, it should be noted, is totally obsessed over the issue of Lyndon LaRouche, night and day.

Therefore, we are mobilized on a very short fuse to force Glass-Steagall into implementation, and we will do this by mobilizing and educating the mass strike ferment across the country to impose the policy, now. That is our only certain ally.

The Senate are a bunch of total whores, and the Congress are cowards. But only one third of the Senate is up for reelection this year, whereas 100% of the House is facing the electorate right now, and that means they are more responsive to mass strike heat. In a mass strike period, which do you think is more susceptible to pressure?

As the result of our efforts, especially of our three flagship campaigns, Glass-Steagall is now widely known among the population and has massive support. There is a view among many Americans also that derivatives are the root of all evil. They want action on Glass-Steagall and against derivatives, but, instead, Reid and company are going with Wall Street to shut down any such action.

So we will take the gloves off against Harry Reid. He has set a Senate agenda this session to explicitly eliminate any legislation attacking derivatives. He is using the so-called "Volcker Rule" as a substitute for a clean bill against derivatives. Anyone who goes along with Reid on this deserves to have his or her ass kicked hard — which in Barney Frank's case is admittedly a toss-up.

The results of Tuesday's primaries — especially the Blanche Lincoln victory in Arkansas — show that, with some significant support on the scene from people with influence, the battle can be won.