The Presidency as the Force to Destroy Wall Street
In her leading analysis in EIR published today, “Will Europe Survive the Collapse of the Euro System?”, Helga Zepp-LaRouche writes that the bankrupt EU institutions have reached their dead end after a decade of economic collapse.
Zepp-LaRouche said:
“No matter whether Greece suspends payment on the 300 million euros it owes the IMF this Friday, June 5, because it cannot accept further austerity measures demanded by the Troika, such as raising taxes in the range of 3.5 billion euros and further cuts in social services; or whether the European Central Bank, German Chancellor Angela Merkel and French President Francois Hollande at the last moment propose a somewhat less brutal austerity program; either way, within the current EU logic there is no way out, either for Greece, or for the EU.
“Because after June 5, further payments by Greece come due: on June 12, 350 million euros; on June 16, 600 million; on June 19, 345 million; and then, altogether Greece has a debt of 350 billion (!) to the European Central Bank (ECB). If the proverbial miracle does not occur, such as the creditors agreeing to the European debt conference demanded by Greece — the chances of which are currently totally impossible — the policy of the EU will drive Greece into insolvency. At that point, … there is a threat of a general collapse of the European banks, and, as a result of the derivatives exposure and swap-arrangements between the ECB and the Fed, a collapse of the American financial sector as well.”
The London Telegraph reported Wednesday, “Greek default is drawing closer” and even one German government official acknowledged reality: Sigmar Gabriel, chairman of the Social Democrats in Parliament, said, “The political consequences of a Greek bankruptcy would be gigantic for the Eurozone, catastrophic.”
The comments of Lyndon LaRouche were most forceful: “These creditors say, ‘Our claims!’, but they are completely fraudulent claims against Greece. The entire debt is a swindle, and fraudulent claims are being demanded for bankrupt institutions, bankrupt London and Wall Street banks. Who will weep for them?”
The mission, rather, is to destroy them, break them up and write their worthless debt claims off. What is needed is the creation, promptly, of the institution of a new Presidency for the United States, which is capable of dumping Obama out of office in the process of fighting for policies which can revive the nation.
Restoring the Glass-Steagall Act is the doorway to these Hamiltonian credit and science policies. Wall Street’s declaration of Martin O’Malley as its “enemy number-one” since he declared his candidacy May 30, committed to Glass-Steagall restoration, confirms LaRouche’s stated judgment that O’Malley is “the only qualified candidate so far, who can take part in shaping this new Presidency.”
The key is the force of hundreds of activists in the United States committed to LaRouche’s strategy, who have been discussing and forming that strategy in weekly national discussions with him, and growing in numbers and activity at the same time. No one else dares the crucial commitment: Dump Obama, break Wall Street, deploy Hamilton’s credit policies for productive employment of the population. Join him.
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