February 26th, 2013 Podcast
February 26, 2013 • 3:41PM

It's Tuesday February 26th 2013; My name is Limari Bedford and this is your podcast from larouchepac.com This podcast is available every weekday on the Itunes podcast stream: search larouchepac on itunes to find us.

No one has to remind you that this is sequester week and this Friday it’s expected that the government will lay off hundreds and thousands of workers in automatic cuts. However, what everyone needs to be reminded of is that this never started with a problem of overspending. This crisis started long ago with the over inflating of a speculative system, which is on the verge of collapse. That's the issue that has to be addressed rather than wrangling over the better way to cut the budget. Over the weekend, EIR editor Dennis small gave a thorough presentation on the nature of this phony tower of wealth called derivatives, which is now in the processes of unwinding. [Clip from Dennis] The series of demonstrations makes the greatest case for the need for Glass-Steagall. This presentation can be viewed in full with graphic demonstrations on the LPAC website.

In addition to this LPAC will have on our website later today, a national banking legislation that should be put into the hands of every legislator in the country.

Clearly Glass-Steagall has to be brought for a vote and passed in congress, and new cosponsors who have added their names to the Glass-Steagall Bill are a sign of life from capitol hill but more action is needed. Those new co-sponsors who added their names on February 25th are: Republican Rodney Alexander, of louisiana, Elijah Cummings of MD,Peter DeFazio of OR, Jim McDermott of WA, Chellie Pingree of Maine,, Loretta Sanchez of CA, and John Tierney of MA.

On the view from Europe, the Greek Daily Hellada, published a hard hitting interview with Helga-Zepp LaRouche covering two full pages. The interviewer was Dr. Nicolas Laos, one of the daily's leading commentators. The Questions included the request to comment on the causes of the financial and economic crisis afflicting Europe, and especially the Eurozone, "where huge state-imposed austerity programs are implemented," together with bank bailouts, and to "articulate a robust policy of socio-economic development." In reply, Helga Zepp Larouche pointed to the paradigm shift which has occurred, in particular the total shift "away from production based on scientific and technological progress toward monetarism and the idea that 'money makes money'; after President Nixon's abolition of the Bretton Woods system, the creation of unregulated offshore markets and the adoption of floating exchange rates." Since then, "a completely unregulated derivative market of virtual assets has mushroomed," exceeding the real economy of the world by orders of magnitude.

More coverage of this interview can be found on the LaRouche PAC website. And lastly Dmitry Rogozin, Russian Deputy Prime Minister continued to address the need for a global, coordinated program against dangerous asteroids. He did so again on Saturday, Feb. 23, during Russia's Defenders of the Fatherland holiday honoring veterans and servicemen. Here is Jeffry Steinberg with more.

Tune in every day around the lunch hour— or mid morning if you're on the west coast for this podcast. Become a member of the LaRouche Political Action Committee, and fight with us! You can sign up directly from the website, or call our national center at 1.800.929.7566. This is Limari Bedford. It's Tuesday February 26th 2013; We'll see you tomorrow.