Diane Sare, the LaRouche candidate running as an independent for Governor of New Jersey, issued the following statement today:
In the last couple of weeks there has been an explosion of support for the reinstatement of the FDR-era 1933 Glass- Steagall Act, which would separate commercial from investment banking. Individuals such as newly elected US Senators Elizabeth Warren (D-MA), and Angus King (I-ME), FDIC Vice President Thomas Hoenig, Newt Gingrich (according to the Brookings Institution), and even Glass-Steagall shatterer Sandy Weill, and the Financial Times of London have all thrown their support behind the reinstatement of this crucial banking principle.
The likely reason for such vocal support for Glass-Steagall at this moment, is that some are beginning to recognize that as Lyndon LaRouche has warned, it is not the fiscal cliff that is dooming mankind, but the abyss of hyper-inflation, like 1923 Germany, but on a global scale this time which threatens species extinction. On top of outright shortages of basic commodities thanks to green energy food for fuel programs, the trillions of dollars of bailouts have served to cause skyrocketing prices as well. The increasing suicide rates in Spain and Greece, are merely a foretaste of the chaos to come, if this policy is not reversed.
Governor Christie, as he has done on so many other issues, is sticking with Barack Obama on this one. Governor Christie said publically at a Paramus Town Hall Meeting in 2011, that things are much different today than they were in 1933, i.e., Glass-Steagall wouldn't work in the current crisis. (The exact same line as Barney Frank and Obama). And further, on the question of public credit, he went on to flatly reject the idea of, "the Federal Government bailing out profligate spending by the states."
Perhaps this is the reason why, after so many photos were taken of him and Obama together in the wake of Superstorm Sandy on the Jersey Shore, so very little has yet been done. In fact, Governor Christie's friends on the Meadowlands Commission are insisting that really nothing can be done. In effect, "We'll just slowly rebuild the casinos and neighborhoods as best we can, and wait to be hit again."
The immediate reinstatement of Glass-Steagall would pull the rug out from under Obama and Christie, and their murderous policies, and put the nation on a pathway to economic recovery involving a return to a Hamiltonian Credit System, a National Bank, and the ability to issue public credit for desperately needed great projects like NAWAPA XXI, and the obvious storm surge barriers of the coast of New York and New Jersey.
With such direction in the United States, New Jersey would resume her rightful place as a mass-producer of machine tools, rail, and advanced technology, not the stupid green energy genocide that Governor Christie supports. Dont be a chump for Christie and Obama! Call your Congressman and Senators today to co-sponsor and pass HR 129/Glass-Steagall now!