Dave Christie: It is Now Beyond Time for Glass-Steagall
July 15, 2012 • 8:45AM

The LIBOR (London InterBank Offer Rate) criminal scandal is about to hit Barack Obama, and is playing into the LaRouche Slate- led drive to get him out before the Democratic Party National Convention on September 3rd. Tim Geithner and Ben Bernanke are already up to their necks in this criminal operation to murder our citizens, where major international banks conspired to manipulate key interest rates used by cities, states and municipalities, bilking them for trillions and forcing budget cuts and austerity measures that are now killing our citizens. Certain cities, such as Baltimore and Oakland, are now taking the banks on and suing them. The LIBOR “scandal” has not only sounded the death knell of the financial system, but has shown the criminal intent behind it.

It is now beyond time for Glass- Steagall.

In the middle of the eruption of the LIBOR scandal, a powerful faction in the United Kingdom has now stated their intention to go with Glass- Steagall. This faction has come to understand that the only way to avoid the presently unfolding Dark Age in Europe and the United States is to go with a full throated FDR New Deal. That announcement by this faction in no way secures victory; it only creates the potential for victory, given that other factions of the British financial oligarchy continue to push their agenda of extinction, with calls for reducing the world population to less than one billion people. Russia and China have now called the bluff of that genocidal faction who has demanded that Asia join the suicide pact of economic disintegration of the transatlantic banking system Europe through zero-growth environmentalist policies and the bailouts, or face war- and thermonuclear war at that.

While the war danger still looms, saner heads in the British establishment are now moving with the LaRouche- led initiative to pull the world out of collapse with an FDR style New Deal, starting with the immediate restoration of Glass-Steagall. This powerful faction of the British Establishment has also called for a new Pecora Commission to get the “heads rolling” of the most criminal banksters. What better way to start the criminal proceedings than by exposing the unfolding LIBOR scandal?

We must be blunt about this “scandal.” This is not just a case where the “bankers have screwed us over yet one more time.” This is systematic murder in the tradition of Adolf Hitler. Hitler will look like a mere piker compared to those who created this swindle and the resulting murderous budget cuts. We must put these criminals behind bars, including those in and around the Obama administration. They cannot be allowed to claim ignorance of the consequences of the austerity demanded by their swindle. In the lead up to the passage of Glass- Steagall and FDR’s New Deal, Ferdinand Pecora put the worst of the Wall Street scumbags on the stand, and exposed their criminal activity. We must do the same today, and implement a new Pecora Commission immediately.

However, we aren’t going to wait for the conclusion of this new Pecora Commission to pass Glass- Steagall. Glass- Steagall must be implemented now, so that we can initiate today’s modern New Deal, beginning with the construction of NAWAPA XXI to employ 6 million people over the next 30 years. This requires the implementation of an American credit system, where credit is generated based on the credibility of the future wealth that it produces, and circulated through a regulated national banking system as Alexander Hamilton had designed.

We are running out of time to make this happen. Both Obama and Romney must be dumped as candidates now, before the conventions at the end of the summer. This has been the mission of the National LaRouche Slate, and we will not stop now. As was said by another genius, who had recruited layers of the British to join the American Revolution, “Join, or Die!”