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PRESS RELEASE


LaRouche: The Trans-Atlantic Financial System is Bankrupt, not Greece

June 30, 2015 (EIRNS)—With much of the world in a dither over hourly developments around Greece, Lyndon LaRouche today cut through to the heart of the matter:

"Let’s get real. The Greeks will never pay their illegitimate debt. They have no reason to pay, and they can’t afford to pay. And it is the entire trans-Atlantic financial system which is bankrupt, not Greece."

LaRouche stated that this includes the United States, which is entirely bankrupt. Wall Street is totally bankrupt; it represents no wealth, it has no real funds, and deserves zero support. The collapse of the Euro system is underway, and is having chain-reaction effects across the trans-Atlantic region—only some part of South America may make it.

The United States dollar is now in jeopardy, LaRouche warned. We have to recognize that the increase in worthless financial assets, including all of Wall Street’s debts, cannot be covered. If that is tried, a chain-reaction collapse is assured. The argument is to pretend that there is no such systemic problem, that it is all a matter of Greece refusing to pay.

The issue is, how are we going to keep the United States alive with the entire trans-Atlantic system crumbling right now? It is certainly not going to be on the basis of the Republican Party, and de facto Republican President Barack Obama, who has to be removed from office immediately, if the U.S. is to survive the financial crash as well as the British Empire’s intent to launch thermonuclear warfare against Russia and China.

We need a Glass-Steagall deal for the United States right now, LaRouche said, in order to save what’s left of our crumbling physical economy. The Wall Street banks, and the entire British Empire, are filled with filth, financial and otherwise, and have to be held accountable for their crimes. "We cannot bail these bastards out," LaRouche stated.

Germany is the other critical nation at this juncture, LaRouche stated. If Germany dumps Obama’s insane sanctions policy against Russia, and gets into business again with Russia, this could serve as a block against the severity of the trans-Atlantic collapse. It is in Germany’s national interest to do so; and it is also the best option for Europe as a whole—the advantages and implications would be tremendous.

The problem is German Chancellor Murky Merkel, along with her Finance Minister Wolfgang Schaeuble. But the pressure is growing in Germany to escape from the trap of the European collapse, and Merkel and Schaueble’s departure from government could open the way to that path.

The time to act is now, LaRouche stated. The entire trans-Atlantic system is going down; but its replacement is at hand with a Glass-Steagall reorganization in the United States and internationally, and joining with the half of humanity represented by the BRICS process, in reconstructing Man’s commitment to science and a global physical-economic renaissance.