LaRouche in 2012: 'Glass-Steagall or Die!'

As LaRouche has been forecasting for decades, we have now come to the convulsive end of the Trans-Atlantic financial system which demise began in earnest with Richard Nixon's trashing of the Bretton Woods monetary system in August 1971. No amount of tariffs, slashing of government jobs, or bitcoin ponzi schemes will save this system.

In this week's LaRouche Show video from 2012, LaRouche and his national candidates slate discuss the necessity of restoring FDR's 1933 Glass-Steagall Act as the first step in a complete re-organization of the U.S. economy. Reinstating Glass-Steagall would immediately identify quadrillions of dollars of totally worthless financial paper which can never be bailed out, and which our federal government has absolutely no obligation to defend. By scrapping the currently defunct Federal Reserve monetary system in favor of a National Bank, the United States could then readily create a productive credit system, as designed by Alexander Hamilton and used effectively by such presidents as Abraham Lincoln and Franklin Roosevelt. Such credit could thus be mobilized for critical infrastructure projects, high technology manufacturing, and great projects like the NAWAPA plan creating millions of new productive jobs.

Fortunately, China and other nations of the Global South, typified by the BRICS alliance and its New Development Bank, have effectively abandoned Wall Street's and the City of London's sinking Titanic in favor of real, physical economic development. Will the American people now finally insist that our government follow suit?

For more https://laroucheorganization.com/pamphlet/coming-economic-miracle/glass-steagall