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The Greek Crisis:The Only Way Out of This Mess Is To Repudiate the Greek Debt
LaRouche
(EIRNS)-The European Union is just stalling, economist LyndonLaRouche said today. The Greeks have made it clear that the issues are limited, that they can not and will not pay illegitimate debt by killing their citizens. Otherwise, the Greeks will simply leave Europe. Some parts of Europe are refusing to admit the fact that their governments, or their representatives, have committed a fraud against the Greek people. Those elements are demanding that the Greeks have to pay the debt, which a fraud has created. We must tell them: The fraud will not be honored. You stole the money, for pure speculation, and you're now demanding to get it all over again. We're saying, "No. You've stolen more than enough from us already."
The fly in the ointment is, that an honest treatment of the debts which areattributed to the Greeks, would mean the bankrupting of major speculative interests in Europe and the United States in particular. The problem that Europe has to worry about, is the fact that the European debts, these gambling debts, are not fungible.
Therefore, writing them off would mean, cancelling Wall Street, and going back toGlass-Steagall.
The Troika is missing the point. What they are defending are worthless assets.They're trying to recommit a fraud, which they had already committed previously. What they must do, along with the United States, is to restore the Glass Steagall policy, as Franklin Roosevelt did-cancel the worthless debts. Europe must cancel its worthless debts in the same manner, especially the British.
The Europeans must eat the fake debt. What they're demanding is the protection of their thievery. The solution is the re-establishment of the Glass-Steagall policy for the relevant regions of the planet, including the U.S.A. If you close down those banks in the U.S., under the law, which are speculative banks, you have now changed the character of the money system in the United States, to eliminate this swindle system. Use Glass Steagall as a source of credit. You put that source of credit into the hands of the U.S. government, so it's now the U.S. government, which is the agency which actually represents the people of the United States.
We recommend that a similar approach be applied to Germany, to France and so forth.In that way, the swindlers lose the money-but they are swindlers. Take the swindlers' money away from them, and give it back, respectively, to national banks-that is, to governmental banking systems. This will create a new Glass- Steagall policy of international development in a significant part of the trans- Atlantic region.
German Finance Minister Schäuble and his cohorts-pirates and burglars aresquawking to protect the interests of the pirates and swindlers. Let's go back to Franklin Roosevelt's methods. France needs it. Clean out the monetarist system. That will not solve all problems, but it will give us a foundation from which to build up solutions. Get some production going. Shut down this euro speculation system; these guys are all thieves, and the British most of all. We don't need to worry about their benefits; they don't have any benefits coming to them.
What we need is an economic system, a federal banking system, a nationalbanking system, go back to the U.S. concept of Franklin Roosevelt, of Glass- Steagall. It's the swindler class which is making these demands of Greece. Don't listen to the swindlers; go back to national economy, and we won't have such swindlers.
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