Lead —The System is Crashing and Only LaRouche's Solution Can Save Mankind
July 31, 2014 • 7:27PM

As Lyndon LaRouche has been warning for months, the entire British Empire global financial system is at the end-point and is unraveling rapidly. The Banco Espirito Santo, Portugal's largest bank, announced on Thursday that they posted $4.8 billion in losses for the first half of the year and will need a massive bail-out/bail-in to survive. The bank's president is under arrest for tax evasion and bank fraud, and the bank's stock fell by 50 percent in Thursday trading alone (it is down by 80 percent since the beginning of the year). A further collapse of BES, which is imminent, will hit one of France's biggest banks Credit Agricole—and on from there.

We are rapidly investigating evidence that the same vulture funds that have attempted to wipe out Argentine sovereignty are active in Spain as well, buying up unpayable debt for three to four cents on the dollar and then going for total looting. The fact that they are targeting Europe directly tells you just how desperate these moves are. Lyndon LaRouche on Thursday denounced this as a "total fraud. It is the same thing as the absolute fraud of the targeting of Russia. This is all coming from London. Put the blame squarely where it belongs: It's the British Empire."

This system is not only doomed. With the BRICS summit earlier this month, the seeds have already been planted for a new, just international system of sovereign credit, involving leading nations of the planet who are no longer willing to cow-tow to the demands of the British Empire and Wall Street. The spokesman for Argentine President Cristina Fernandez lambasted President Obama for the travesty of Judge Griesa, which is destroying the world system.

As Lyndon LaRouche emphasized in recent discussions with colleagues, now is the moment to bring the United States fully into the new arrangements—arrangements which are all based on the American System of our own Constitutional Republic of Benjamin Franklin, Alexander Hamilton, John Quincy Adams, Abraham Lincoln and Franklin Roosevelt. This is the real United States and we must take the urgent immediate steps to bring the United States fully into the BRICS initiative: Impeach Obama and immediately reinstate Glass Steagall. With Glass Steagall reinstated, we can fully move to implement the Four Cardinal Laws that are key to any USA and global recovery.

We must be thinking about bringing together the relevant governments and leading thinkers to take up LaRouche's challenge to devise a new system based on a clear scientific concept of productivity.

Last Friday's historic vote in the House of Representatives, reasserting Constitutional authority of Congress to declare war, was a shot across the bow against the tyranny of the Obama presidency. The same bipartisant revolt can and must produce immediate passage of Glass Steagall. If Congress goes into recess and returns to the districts to campaign, we have to lead the pitchfork brigades to insist that they get back on the job and take the urgent steps that cannot wait until September. It is clear that the European side of the trans-Atlantic banking system is in a free-fall. William White, the former chief economist of the BIS, in a series of interviews in the European media, has openly said we are on the verge of a giant financial crash, caused by the collective insanity of the world's leading central banks and their zero-interest policy of flooding a bankrupt banking system with worthless money to fuel the biggest bubble ever. That bubble is set to blow and even White acknowledges that the only available option is an orderly write off of the bad unpayable debt. The BRICS initiative, when combined with a reinstatement of Glass Steagall in the United States is the foundation for such an orderly bankruptcy reorganization and change to a totally new and different system, a system not based on money, but on real measures of physical production, as defined in LaRouche's concepts of energy flux density and potential relative population density.

It is because of the breakthroughs that we have helped to bring about in the recent weeks—the BRICS summit creating of a New Development Bank and the bipartisan Congressional revolt against the hated Obama—that the British are more desperate than ever to fulfill their plans for world war and mass genocide. The madness of the Empire forces, including their puppets Barack Obama and David Cameron (who wrote in the Daily Telegraph today for war with Russia), is such that there are sane forces beginning to finally push back against the maniacs pushing thermonuclear world war. A group of former foreign ministers, defense ministers and intelligence chiefs from Western and Eastern Europe and Russia, assembled as the European Leadership Network, issued a stark warning today of the danger of thermonuclear war coming out of the continuing Western provocations against Russia over Ukraine. In an 11-page paper headlined "Crisis Management in Europe in the Context of Events in Ukraine," they ominously warned: "The Task Force...believes the current crisis is putting the security of everyone in Europe at risk and is potentially pitting nuclear armed aversaries against each other in a highly volatile region." Among the 11 signators on the Task Force document were former German Defense Minister Volker Rhue, former Russian Foreign Minsiter Igor Ivanov, former British Defence and Foreign Secretary Malcolm Rifkind and Vyacheslav Trubnikov, former head of Russian Foreign Intelligence.

Because of Lyndon LaRouche's groundbreaking scientific work and economic forecasting over the span of the last 50 years, we are in both a privileged and demanding position at this moment of great opportunity and grave danger. The forces of Empire are not about to roll over and play dead, particularly at a moment they perceive they face a great, existential risk. Yet they have been weakened by the breakthroughs of the recent weeks to the point that we can defeat them decisively with a focused drive for the urgent changes here in the US. That means relentlessly pushing for Obama's ouster, the reinstatement of Glass Steagall as the first step towards fully implementing LaRouche's Four Cardinal Laws. The question to be struggling with every single day is: Are you yet qualified to lead the world to the safety of a new system of sovereign real development through the re-establishment of a credit system of national banking, the creation of millions of skilled jobs to rebuild our crumbling infrastructure, and the implementation of a science-driver based program led by the full breakthrough for thermonuclear fusion?