"...Obama is potentially, a kind of weak personality, who has no real capability to govern, so he acts like a dictator, which is the role which the British have created for him, assigned to him, and other people in the United States who went along with that policy. Now, he's reached the point that he's in a maximum failure, and we are at the point that he will prevent any competent decision being made, at a time when between now and sometime in Septemberno laterunder the present conditions and present policies, we're looking at a general breakdown crisis of not only the United States, but the world system. The crisis that occurs now, would probably erupt either in the United States, or in Western and Central Europe. The British system is bankrupt, and only by a great political fraud do they manage to keep the appearance [of solvency-ed.]
"...we've reached a point, a break point, at which the breakdown, or the shutting down of the auto industry, the shutting down of other things, means we're in a collapse phase, a general collapse phase. We're going to the point where this will break down, because the rate of increase, with the help of Obama Administration and the British, the rate of increase of the speculative, worthless debts, is so rapid, that you're going to get a breakdown. And it will come in this period, between July and September. The exact date is uncertain. The inevitability of the thing under the present condition [is certain].
"Now, the problem is: At any point that we made the right decision, as the United States government, we could stop this process. If we passed a Glass-Steagall Act now, at any point in this period, before the crash occurs, that would stop the crash. Because what we would do then, is we would simply take all those debts, which are this kind of financial, speculative debt, and you put that over here. The government has no responsibility to pay that debt. And then, we have our banks, which we will save, or the portion of the banks which are legitimate banks by a Glass-Steagall standard: We save them!
"Now, the Federal government is relieved of responsibility for the debt represented by the financial speculative debt. So now, the Federal government, being relieved of that responsibility, which it's now carrying, is now able to utter new credit. What we can do, immediately then, by uttering new credit, we can stabilize the banks we've saved. Now the banks we will have saved, the commercial banks we will have saved, will be implicitly bankrupt; but we can provide protection for them, under our system, under our Constitution, to keep them alive, and we will supply Federal credit. The Federal credit will be in the form of money lent to them, by the Federal government printed by the Federal government, uttered by the Federal governmentwhich will then be invested, through those banks, either to government-sponsored infrastructure projects, which will be done in various areas, by people who are contracted to do these things; or, it will be simply, directly invested by the government. And in these cases, we will build up an infrastructure program which will put people back to work.
"... And we could do this, at any time that we had a President who was a real President, and a Congress that was going to take leadership from a real President. We have that potential in our institutions. This is not something you're going to have to dream up. We have this potential, and all it takes is, now, with a majority of the population wanting a Glass-Steagall system over 80% of the population wants a Glass-Steagall system; with a government that is committed to respond to the people, which means a Glass-Steagall system, that means that the entire government would be oriented in the kind of direction I've indicated.
"...But the point is, we've reached a point, if you let the thing continue to collapse, what we're losing is productive potential. If you let the productive potential collapse, you can have a Dark Age throughout the planet for two generations or three generations to come: So, in this summer period, which is the last chance to do this, we have to do it. We will not do it, if Obama is President. Obama's a total British agent. He also is a weak personality, in the legacy of Nero, Hitler, and Obama. I put the moustache on Obama: I was right! Only cowardly fools didn't like the moustache, or idiots. I think mostly cowardly fools more than the idiots.
"...So, we have a situation, where if the United States takes the leadership by getting Obama out now!I don't care how many moustaches you have to paste on this guy to get him out, I don't care! Put 'em all there! Surround him with bushes of moustaches! Get him out! And it can be done: If the determination of the American people is to get him out, we can get him out, and the basis for that interpretation of things is there. It's only some of the cowardly politicians in the Congress, are standing in the way of defending this administration, which the great majority of American people now hate! It's their enemy! And we have to do it, we have to find the political leadership to do that.
"And that's my point. I have many other things to say on the subject, as you know, that I've said on earlier occasions: But we're now at the point, where the existence not only of the United States, but of civilization on this planet, is going to depend for much of the remainder of this century, on getting Obama out, now! We're at the point where getting him out, now, would be sufficient to start and set into motion, the process of saving this nation, and saving this planet.
"That's the issue."