Author: Spencer

Elizabeth Warren, Maria Cantwell, John McCain and Angus King introduced the 21st Century Glass-Steagall Act into the US Senate yesterday. The bill does not yet have a number, but the four Senators, who introduced the same legislation into the Senate during the last session, released a press release yesterday, accompanied by the text of the 36-page bill and a one-page fact sheet.

Maria Cantwell was quoted in the release that “Americans have suffered enough from big banks making them their deep pockets for reckless behavior. It’s time to separate commercial from investment banking.”

Elizabeth Warren was quoted that

John McCain added,

It is no coincidence that the Senate bill was finally introduced at a moment when the entire trans-Atlantic financial system is on the edge of disintegration, with the eurozone on the verge of break-up, and with US too-big-to-fail banks now sitting on $26.5 trillion in gambling debt, subject to taxpayers bailout, according to a recent report from the Richmond Federal Reserve Bank—not to mention the $2 quadrillion in global derivatives that have taken over the trans-Atlantic financial system.

Join us every Thursday at 9PM Eastern for our Fireside Chat series featuring a live Q&A session with Lyndon LaRouche!

In his statement yesterday after the referendum, Greek Prime Minister Alexis Tsipras made clear the nation has achieved a victory, is united and ready to take up the real issue, the debt. On Monday, July 6,  Tspiras and his Defense Minister Panos Kammenos, of the Independent Greeks, held a meeting with opposition party leaders to seek support for a debt agreement.  Tsipras’s statement said in part:

Greek Defense Minister and leader of coalition partner, Independent Greeks, Panos Kammenos issued a statement saying, “The Greek people have proven that they cannot be blackmailed, terrorized, and threatened.”

On Monday morning, July 6, Tsipras and Kammenos convened a meeting at the office of President Prokopis Pavlopoulos of all party leaders except the fascist Golden Dawn. These included New Democracy temporary leader Evangelos Meimarakis (following the resignation of Antonis Samaras), To Potami leader Stavros Theodorakis, Communist Party (KKE ) Secretary General Dimitris Koutsoumbas, and Pasok leader Fofi Gennimata.

Following six hours of meetings, all parties present except the Communist Party, signed a statement in support of the government effort to reach a deal on Greece’s debt, which reads in part:

The “common goal” they agreed to includes securing sufficient financing for Greece, a strong growth program to combat unemployment, and finally, a meaningful discussion to deal with Greece’s debt sustainability.

Greek Prime Minister Alexis Tsipras issued the following statement after voting in the July 5th referendum:

Despite a campaign of terror and blackmail against them, on Sunday, July 5, the Greek people voted by a margin of over 61% to less than 39%, not to submit to the tyrant Zeus’s power, not to willingly submit to genocidal austerity based upon an illegitimate debt imposed upon it fraudulently, as demanded by the British Empire. Their vote of “No” is a resounding “Yes” to a future, not just for Greeks, but for humanity, however uncertain that future may be at the moment.

As Lyndon LaRouche stressed upon hearing the results of the vote, this vote will not have consequences just for Greece. The vote has consequences for the world, and especially for the Trans-Atlantic region.

The question is, what is Obama going to do? This vote will have consequences for Obama, because he is a mere stooge of the British Empire and of Wall Street, both of which will be hit hard by the Greek vote.

In Germany, German Chancellor Angela Merkel and German Finance Minister Wolfgang Schaeuble are in deep trouble. The German economy has been plunging down. Any sane German will come to one conclusion—dump Merkel and Schaeuble. From the standpoint of the German economy, no other sane conclusion exists. Germany is virtually the sole remaining producing nation in Europe. If Germany doesn’t want to commit suicide, it has no other alternative but to dump Merkel and Schaeuble now. They are not expenses Germany can continue to carry. The German economy is already in free-fall. How long will Germany survive under its current misleadership?

And for that matter, how long will the United States survive under Obama’s misleadership?

LaRouche stressed that we can expect sudden changes globally immediately ahead. There will be an instinct to punish Greece for not losing.

The changes will be global in nature, hitting primarily the TransAtlantic region. Be prepared for all Hell to break out. On July 7, The BRICS (Brazil, Russia, India, China, South Africa) New Development Bank will be officially launched. On July 8-9, the BRICS nations will be meeting Ufa, Russia. Will the British Empire’s stooges attempt to force Greece out of the Eurozone? If so, will Greece join the BRICS? Or will an attempt be made to try to keep Greece in the Eurozone? Either way, the issue is not Greece per se. The issue is the bankruptcy of the Trans-Atlantic region as a whole. As LaRouche stressed, there is no single solution, but rather there is a set of complications. There will be a global effect. The real markets are not limited by any means to Europe. Financial activities are global in nature.

Therefore, the crisis has to be looked at not from the bottom up, but rather from the top down. To do so, you have to extract yourself from your local surroundings. We are facing a global crisis, not a local one. Even a write-down of the Greek debt alone would not solve the crisis.

As LaRouche has said, what is required is to reimpose Franklin Roosevelt’s Glass Steagall legislation in the United States and globally.

As LaRouche emphasized, absolutely nothing is fixed. Everything you count on could vanish in days. The whole world could be turned upside-down.

Therefore, the approach that must be taken is to go for the center of the action. Start from the galactic center. You must look at the planet as a whole, under galactic implications. You have to understand man’s existence from that standpoint. Processes which govern the galaxy determine everything. You must go from the whole to the particular, not from the particular to the whole. The galaxy has manifold considerations, which mankind thus far only appreciates to a limited degree.

The word from the mouth of Satan is “be practical,” when in fact what is actually needed is to be creative!

We know more and more of the dimensions of the problems to be solved. As we explore those dimensions, we become more qualified to correctly address the problems humanity is facing. To do this, you must develop yourselves to have sufficient competence to make decisions on a global scale.

This is the importance of classical music. The way you have to think at a moment of global crisis, such as we are now confronting, is from the standpoint of classical music. The classical musical principle is never located in the mere notes as such. It is a question of placement. The truly great classical composer places his identity, as Beethoven did, in a personal mission to improve the human condition, by elevating the human mind to be in harmony with the musical principle of the world, to be in concordance with the creative principle of the galaxy.

Despite a campaign of terror and blackmail against them, on Sunday, July 5, the Greek people voted by a margin of over 61% to less than 39%, not to submit to the tyrant Zeus’s power, not to willingly submit to genocidal austerity based upon an illegitimate debt imposed upon it fraudulently, as demanded by the British Empire. Their vote of “No” is a resounding “Yes” to a future, not just for Greeks, but for humanity, however uncertain that future may be at the moment.

As Lyndon LaRouche stressed upon hearing the results of the vote, this vote will not have consequences just for Greece. The vote has consequences for the world, and especially for the Trans-Atlantic region.

The question is, what is Obama going to do? This vote will have consequences for Obama, because he is a mere stooge of the British Empire and of Wall Street, both of which will be hit hard by the Greek vote.

In Germany, German Chancellor Angela Merkel and German Finance Minister Wolfgang Schaeuble are in deep trouble. The German economy has been plunging down. Any sane German will come to one conclusion—dump Merkel and Schaeuble. From the standpoint of the German economy, no other sane conclusion exists. Germany is virtually the sole remaining producing nation in Europe. If Germany doesn’t want to commit suicide, it has no other alternative but to dump Merkel and Schaeuble now. They are not expenses Germany can continue to carry. The German economy is already in free-fall. How long will Germany survive under its current misleadership?

And for that matter, how long will the United States survive under Obama’s misleadership?

LaRouche stressed that we can expect sudden changes globally immediately ahead. There will be an instinct to punish Greece for not losing.

The changes will be global in nature, hitting primarily the TransAtlantic region. Be prepared for all Hell to break out. On July 7, The BRICS (Brazil, Russia, India, China, South Africa) New Development Bank will be officially launched. On July 8-9, the BRICS nations will be meeting Ufa, Russia. Will the British Empire’s stooges attempt to force Greece out of the Eurozone? If so, will Greece join the BRICS? Or will an attempt be made to try to keep Greece in the Eurozone? Either way, the issue is not Greece per se. The issue is the bankruptcy of the Trans-Atlantic region as a whole. As LaRouche stressed, there is no single solution, but rather there is a set of complications. There will be a global effect. The real markets are not limited by any means to Europe. Financial activities are global in nature.

Therefore, the crisis has to be looked at not from the bottom up, but rather from the top down. To do so, you have to extract yourself from your local surroundings. We are facing a global crisis, not a local one. Even a write-down of the Greek debt alone would not solve the crisis.

As LaRouche has said, what is required is to reimpose Franklin Roosevelt’s Glass Steagall legislation in the United States and globally.

As LaRouche emphasized, absolutely nothing is fixed. Everything you count on could vanish in days. The whole world could be turned upside-down.

Therefore, the approach that must be taken is to go for the center of the action. Start from the galactic center. You must look at the planet as a whole, under galactic implications. You have to understand man’s existence from that standpoint. Processes which govern the galaxy determine everything. You must go from the whole to the particular, not from the particular to the whole. The galaxy has manifold considerations, which mankind thus far only appreciates to a limited degree.

The word from the mouth of Satan is “be practical,” when in fact what is actually needed is to be creative!

We know more and more of the dimensions of the problems to be solved. As we explore those dimensions, we become more qualified to correctly address the problems humanity is facing. To do this, you must develop yourselves to have sufficient competence to make decisions on a global scale.

This is the importance of classical music. The way you have to think at a moment of global crisis, such as we are now confronting, is from the standpoint of classical music. The classical musical principle is never located in the mere notes as such. It is a question of placement. The truly great classical composer places his identity, as Beethoven did, in a personal mission to improve the human condition, by elevating the human mind to be in harmony with the musical principle of the world, to be in concordance with the creative principle of the galaxy.

Jeremy Warner, the assistant editor of the British Daily Telegraph, lets it all hang out in a foaming-at-the-mouth article on July 3:

Warner concluded by demanding that the EU get on with “installing a government with the stomach for painful reform, fiscal retrenchment and monetary discipline.”

A senior fellow at the Peterson Institute, Jacob Funk Kirkegaard, makes the same point, albeit more politely, but also adds in the strategic dimension. According to a report in Sputnik, the Peterson economist said: “For the Greek banks to reopen, a new government is likely to be required,” and noted that Washington and Brussels are angry at the Greek government’s “leftist anti-austerity rhetoric” and its rapprochement with Russia.

Jeremy Warner, the assistant editor of the British Daily Telegraph, lets it all hang out in a foaming-at-the-mouth article on July 3:

Warner concluded by demanding that the EU get on with “installing a government with the stomach for painful reform, fiscal retrenchment and monetary discipline.”

A senior fellow at the Peterson Institute, Jacob Funk Kirkegaard, makes the same point, albeit more politely, but also adds in the strategic dimension. According to a report in Sputnik, the Peterson economist said: “For the Greek banks to reopen, a new government is likely to be required,” and noted that Washington and Brussels are angry at the Greek government’s “leftist anti-austerity rhetoric” and its rapprochement with Russia.