JANE BURGERMEISTER REPORT: Threatened shutdown of US government a bank operation, says Lyndon LaRouche
12 April 2011
The US national debt – just like the sovereign debt of the eurozone – was engineered artificially by the bankers as a method of confiscating national wealth via interest payments paid by taxpayers on a fractional reserve bank debt which the government assumed as sovereign debt.
Vienna Economist Franz Hörmann explained in an interview in Der Standard how banks can create credit and also debts out of thin air using the fractional reserve banking system. He explained how they engage in expropriation when they ask for interest payments in return for nothing ie for a paper, non existent debt.
LaRouche argues that closing down the US government and leaving the country ruderless under the pretext of having to balance the national budget when the bankers themselves are let off scot free is a covert act of warfare aimed at the people of the USA.
This event has to be understood as part of a much larger, centuries-old battle waged between powers like the USA that want to use money as credit and powers — specifically, the London-centred financial imperium — that want to use money as debt, says LaRouche.
LaRouche proposes reintroducing the Glass-Steagall Act to separate out the trillions of fractional-reserve, private bank paper debt from the national debt and to reform the banking system so that it can once more serve the real economy.
He argues that President Obama, who is consistently furthering the interest of the bankers, needs to be removed from power by impeachment.
He points out that one of Obama’s major funders, George Soros, actively helped Nazis confiscate the property of Jews in Hungary before the Jews were sent to their deaths in concentration camps, and asks: what kind of a character is that?
The eurozone is suffering under the same smothering mountain of artificially and fradulently engineered, fracitonal reserve banking debt – and the solution here too is insolvency or some other mechanism to separate out the paper, private bank debt from the national debt. This has to be done urgently or the eurozone will undergo a similar financial meltdown to the USA.
Adopting old currencies might be another way out.
Certainly, the new embryonic global currency and SDRs being proposed by George Soros and the IMF is just a continuation of the debt system that has brought so much misery in the form of booms and busts and wars since it established itself in the USA after the Federal Reserve was privatised in 1913.
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