By Diana Wong
Beginning with the high-profile $2 billion JPMorgan loss disclosed on May 10, a series of events have characterized the inevitable and rapidly approaching blowout of the Trans-Atlantic financial system.
Following the JPMorgan incident, Moody’s Ratings Agency issued a shocking downgrade to 16 major Spanish banks, including a UK subsidiary of the Inter Alpha Group’s famed and failing Banco Santander. This was accompanied by Spain’s newly nationalized Bankia bank suffering a loss of 1 billion euros in deposits from a bank run, and 30% of its stock value in only a few days. Meanwhile, in Greece, where threats of an exit from the euro zone are looming, banks runs have become a national epidemic, with fears that it might lead to a continental pandemic if it spreads to Spain and elsewhere.
In this light, in addition to “Glass-Steagall” having become a household name through the efforts of LaRouchePAC, new worldwide momentum has erupted for Glass-Steagall, especially in the United States, where various political personalities and news publications are recognizing the urgency for the reinstatement of the Glass-Steagall Act. Among the voices are former New York Governor Eliot Spitzer, Bill Clinton’s Secretary of Labor Robert Reich, and candidate for U.S. Senate Elizabeth Warren, whose call for Glass-Steagall has been fully backed by the Progressive Change Campaign Committee and has garnered overwhelming support in a petition drive.
The complete disintegration of Britain’s financial empire in the context of a growing movement for Glass-Steagall has put London and Wall Street in a strategic disadvantage.
Further, London’s efforts to provoke proxy wars in Syria and Iran as an avenue to the ultimate objective of thermonuclear confrontation with Russia and China for their refusal to go along with the British policy of bail-outs and population reduction, have been firmly rebuffed again in a May 17 statement by Russian Prime Minister Dimitri Medvedev in St. Petersburg. There, echoing Russian Military Chief Gen. Nikolai Makarov, Prime Minister Medvedev delivered an unequivocal message to a British-run Obama and his NATO cohorts, who are threatening to intervene with regime-change operations in Syria, Iran, and elsewhere: such actions can lead to "full-scale wars, even with nuclear weapons."
With the G8 Summit proving to be a flop, where absolutely nothing was resolved regarding the European crisis, coupled with escalating anti-austerity sentiments in Greece and Ireland, the British have resorted to bluffing.
In an effort to veil the reality of thermonuclear war, which the Russian leadership has repeatedly warned of, a litany of British mouthpieces have come out trying to squelch the seriousness of the matter. Leading the pack is the London Economist which published a piece on the eve of the G8 titled, “Rethink the reset: NATO should not give in to Russian aggression,” which proved to be a mixture of dangerously foolish bluffing and suicidal idiocy. After bashing the Russian leadership, the article goes on to argue that NATO should abandon its efforts to negotiate some deal around the BMD shield, in exchange for Russia cooling their rhetoric. It states, "Wooing Russia this way would be a mistake. America's missile-defense plans are aimed at Iran, not Russia... Russian sabre-rattling is not militarily significant: even with its big increase in defense spending of recent years, and the colossal sums promised for the future, Russia is no military match for a united NATO."
Similarly, both the New York Times and Chicago Tribune made desperate efforts to mask the recent warnings issued by the Russian government, with the Times claiming that Prime Minister Medvedev really didn’t mean nuclear war was possible, but that it was only a cover-up for Russia’s supposed weak economic situation. Following suit, the Chicago Tribune goes directly after Russian President Vladimir Putin, stating that the only reason why Russian Gen. Makarov threatened pre-emptive strikes on the NATO BMD system, is because Putin is “spooked by NATO’s fledging system.”
As expected, to Russia’s dismay, the just-concluded NATO Summit in Chicago has moved ahead with the European BMD system, declaring it to be in “interim operation.”
The British are bluffing. The fact is that thermonuclear war is on the agenda, and anyone claiming or acting as if this threat is not on the table is putting the existence of humanity in jeopardy!
As Lyndon LaRouche stated on Monday in a discussion with the LPAC endorsed slate of candidates, “The fact is that Russia has itself a thermonuclear weapons capability which is very close to that of the United States, whereas Europe has very little, very little in depth. For example, in the recent war that Obama ran, the U.S. did practically all the shooting, because Europe didn’t have the reserves to do that kind of shooting. So the issue here is that we’re at the point that Russia DOES have the capability of doing exactly what it said it can do. China is an ally of Russia. So Russia DOES have the capability to practically cause the extermination of the United States. Of course, Russia itself might be exterminated at the same time.”
We must call the British on their bluff. And Obama, who, beginning with his illegal war in Libya, has dutifully carried out the British program towards thermonuclear war, must be removed from office in the coming weeks ahead. The consequences of not doing so will be the extermination of humanity.
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