Sunday, May 29, 2011

Strauss-Kahn falls in Olympian brawl over bailout—go with Glass-Steagall!

Commentary from CEC Australia and Lyndon LaRouche on the world financial system meltdown. I have been waiting for things to reach this boiling point for some time. It seems to me that the whole mess will probably become visible to the general public within the next 3 to 6 months as it unravels more...
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A vicious brawl has erupted in the boardrooms of central banks and government treasuries over whether to respond to the new wave of global meltdown with another round of hyperinflationary bailout—or not—which is why Dominique Strauss-Kahn has lost his job as the IMF’s “Third World-rapist-in-chief”.
Dominique Strauss-Kahn’s antics in his hotel suite are not why he was arrested and thrown in the clink: he led the faction of financiers pushing for a last hurrah bailout before the whole system implodes, and thus has now been removed from the picture by those opposed to that suicidal lunacy.
U.S. physical economist Lyndon LaRouche, the world’s leading economic forecaster and originator of the call for a global Glass-Steagall banking reorganisation to replace the bailouts, declared on 21st May that Strauss-Kahn’s downfall changes the course of history:
“We’re now having a general collapse, of the entire international financial-monetary system. It is an absolutely assured collapse … if certain changes are not made now, and they seem to become likely because of what happened to Strauss-Kahn in New York City, which has changed the course of history in a very significant degree. Because he was supposed to be setting into motion the effort to save [U.S. Federal Reserve Chairman Ben] Bernanke, [U.S. Treasury Secretary Timothy] Geithner, and Obama, from delivery to Hell, by pushing through another round of bailout in the international system. Now, what happened to him in New York, was simply an attempt to ensure that there would not be another bailout of this global financial system …”
LaRouche continued, “The entire system is now going to crash in one of two ways: Either by some unlikely prospect, the backers of Obama, Geithner, and Bernanke will survive this—in which case all Hell busts loose, or they won’t survive it, in which the situation becomes much more interesting. And what happened to Strauss-Kahn, is an absolutely crucial part of this turning point which has been reached in the past two weeks … Now, there are two kinds of collapses: There’s either the collapse of the international speculative system, or there’s the collapse of the world economy, and a general genocidal collapse of civilisation globally. Those are your two options, and we’re at the point where that decision, and only that decision, has any significance.”

source:  Citizens Electoral Council of Australia, Media Release 27th of May 2011