THE LEAD

                                                                                                                                                                                                                                                                                        

Fear Strikes Just as EIR Releases "‘CO₂ Reduction’ Is a Mass Murder Policy"

September 23, 2019
3rd Grade Students from James Ward Elementary School Climate Strike in Chicago Illinois, September 20, 2019. Photo (Charles Edward Miller/Flickr) (CC BY-SA 2.0)
3rd Grade Students from James Ward Elementary School Climate Strike in Chicago Illinois, September 20, 2019. Photo (Charles Edward Miller/Flickr) (CC BY-SA 2.0)

Like one, that on a lonesome road Doth walk in fear and dread, And having once turned round walks on, And turns no more his head; Because he knows, a frightful fiend Doth close behind him tread. —Coleridge

Now, all of a sudden, the unexpected Federal Reserve injections of $75 billion of overnight money into the Wall Street banks every single day—injections which the Fed has pledged to continue for at least three weeks—have forced Americans to turn around and come face to face with the last thing they ever wanted to admit: that the great crash of 2007-09 is back. Not only “back”—but worse, in fact: Actually, that crisis never ended; it was with us all the while. The $23 trillion taxpayer bailouts of speculators’ losses in 2008-09, which Wall Street and two successive puppet-Presidents forced through a corrupt and intimidated Congress, in fact did nothing to solve the problem. As Helga Zepp-LaRouche has warned, nothing was ever done about the causes of the crisis. Indeed, the bailouts only compounded the depression. Instead of cutting out the cancer to save the patient, as economist Lyndon LaRouche had demanded, the Bush-Obama bailouts further increased the mass of the worthless, speculative claims of Wall Street which have been starving out the real, physical economy.

But it’s time to face the fact that no attempt to repeat the folly of 2008-09 will be possible in our weakened, worsened condition of today. More: we should ask ourselves whether our economy or indeed our nation itself would survive it.

The real cure will begin with the emergency reintroduction of Glass-Steagall separation of true commercial banking from speculative banking, and a fast reorganization-in-bankruptcy of the banking system. These will be the equivalent, under today’s vastly different conditions, to the Bank Holiday which Franklin Roosevelt imposed immediately upon his 1933 inauguration. Speculative assets will be segregated out from the honest commercial banking system, and frozen until they can be sorted out to be written down or written off. True commercial banks, free from these claims, will be supported to undertake their essential role in our economy.

Recovery from depression will require Federal credit in the American tradition of Alexander Hamilton and Abraham Lincoln. Indeed, without such Federal credit, we would never have recovered from the Depression of the 1930s. Such credit must be steered towards creating productive jobs, rather than overhead or sheer waste, and towards increasing the productivity and scientific-technological level of all labor. (So directed, it is not inflationary, but counter-inflationary.) Admittedly, doctrinaire economists, whether Keynesian or Hayekian, insist that such Federal credit would violate some sort of natural law. But mere credulous faith in their assertions and in the so-called “free market,” should give way before the authority of Alexander Hamilton’s reports to the Congress on manufactures and on a national bank, and before the lessons from the Lincoln and Franklin Roosevelt administrations, for example.

All of these are aspects of Lyndon LaRouche’s program for recovery. Its most important international component is the creation of an international credit system (not monetary system) which would revive and go beyond the best features of Franklin Roosevelt’s post-war Bretton Woods system, with its fixed exchange-rates and gold-reserve dollar. (In one sense, the crisis of 2007-09 began when Richard Nixon plunged the dagger into the fixed-exchange-rate Bretton Woods system on Aug. 15, 1971.) A leading feature of the new system will be to facilitate long-term, low-interest development loans which would provide for large-scale capital exports from the U.S., Western Europe and Japan, into the developing sector. LaRouche specified China, India, Russia and the United States as the four powers capable of spearheading the new system against the resistance of the international financiers of today’s British Empire.

Since 2013, China has led a great global infrastructure plan called the “Belt and Road Initiative,” or the “New Silk Road,” centered, but by no means limited, to linking-up Europe and Asia by land all the way from the Atlantic to the Pacific. It is a plan which Lyndon LaRouche had pioneered, under various designations, from the time of the breakup of the Comecon in 1991. In the mere six years since 2013, the BRI has been joined by 160 nations and international organizations, and has made or catalyzed major changes in the world. Much of Sub-Saharan Africa has now been inspired by a real hope for development unseen for almost a century, if ever.

The Belt and Road provides a giant stepping-stone towards LaRouche’s proposed four-power agreement, and immediately provides a context for the United States to join with China in great projects in third countries.

The fourth of Lyndon LaRouche’s Four Laws calls for concentration on key science-driver crash-programs, including the development of controlled thermonuclear power and the human colonization of Mars. Only the vast gains in productivity which flow from such scientific breakthroughs can make the difference in reviving our economy and our people from decades of obsolescence and decay. More fundamentally, this is the nature of man, embodying within himself the self-creative power of the universe, as expressed at the beginning of the Book of Genesis. This is the fundamental truth which is denied by the “Green” pestilence of so-called “climate change.”

As Helga Zepp-LaRouche has pointed out, there are powerful London-centered financier factions which imagine that they will be able to protect themselves from the onrushing debacle by channelling all investment flows into their own, so-called “green” channels. They are even near the point of taking over governments, which would result in the shutting down of Germany as an industrial nation—which in turn would wreak terrible damage on the whole world economy because of Germany’s irreplaceable role in industrial high-technology.

Their war is against human nature as that of the creative species. If they were able to win it, all of our million-year struggle up from the mud and “down from the trees,” as we say, will have been in vain. Executive Intelligence Review is releasing its dossier on Monday, as the United Nations begins its week-long “Climate Action Summit 2019” in New York.

                                                                                                                                                                                                                                                                                        

                                                                                                                                                                                                                                                                                        

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