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PRESS RELEASE


New LaRouche PAC Mobilization for
Glass-Steagall, National Banking,
and NAWAPA

April 23, 2012 (EIRNS)—Today the LaRouche Political Action Committee released a call for an emergency mobilization for adoption of a resolution titled "Glass-Steagall, National Banking, and NAWAPA XXI," which "calls on the United States Congress to take emergency action to initiate the speedy implementation of programs to build and implement NAWAPA XXI, in the following way:

  • Reinstatement of the Glass-Steagall Act, to achieve the separation of fictitious debts from legitimate debts, and to enable a retroactive annulment of all government guarantees or reimbursements for private gambling debts;

  • Once Glass-Steagall has been implemented, the vast machine of economic activity associated with NAWAPA XXI will allow the U.S. to make good on all valid state, municipal, and Federal debts that it deems necessary to fund. This program will be the basis for the emission of necessary credit through a sovereign U.S. Treasury, in collaboration with a newly established U.S. Credit Fund, sharing similar qualities of the First and Second National Banks of the United States, the Greenback-based national banking system of Lincoln, or the Reconstruction Finance Corporation (RFC) of Franklin Roosevelt;

  • Establishment of a Credit Fund under authorization of the Congress. The timetable and choice of funding for valid debts and actualizing of new credit emissions will be tied with the investment cycles of NAWAPA XXI and related infrastructure and industrial needs, not the demands of Wall Street or international private banking interests.

The authorized NAWAPA XXI planning body will work with the relevant governments to determine how to meet pre-construction and construction-phase needs, while simultaneously increasing the power of all the layers of the economy involved."