www.LaRouchePAC.com
LaRouche: There IS a Plan B!
September 27 2008 (LPAC)–Lyndon LaRouche today reiterated that the trillion dollar taxpayers bailout scheme, being peddled by Hank Paulson, Barney Frank, Chris Dodd, et al. is doomed to fail. “If the bailout is passed, this will not solve anything. It will trigger Weimar hyperinflation immediately, will bring down the whole banking system, and, contrary to Gordon Brown’s fantasies, will not save the hopelessly bankrupt British banking system.”
LaRouche emphasized, “However, as many people inside Washington and on Wall Street perfectly well know, there is a Plan B. Plan B is my three-step solution, which begins with bankruptcy reorganization, rather than hyperinflationary bailout. First, pass my Homeowners and Bank Protection Act (HBPA). This viable proposal has been out there since Sept. 2007, and everyone serious, who has studied it, knows it will work. Had Congress shown the guts to pass my HBPA in 2007, this crisis would have been averted, and we would have already been on the road to a new, viable international financial order.
“Second, Congress, in coordination with the Fed, must establish a two-tiered credit system. The Fed must immediately increase short-term rates to 4 percent, to send a clear signal that the U.S. government is behind a strong dollar. At the same time, Congress, using its Constitutional authority, must issue trillions of dollars in low-interest credit for earmarked infrastructure projects, in the vital interest of the nation. We need high-speed rail and maglev, nuclear power, water management, new hospitals, repairs on our bridges and roads. These kinds of projects should be financed through capital budgeting, authorized by Congress at 1-2 percent interest.”
LaRouche said, “And at the same time, the United States, Russia, China and India must take the lead in convening a treaty conference to establish a new international financial system, based on fixed exchange rates, along the conceptual lines of what Franklin Roosevelt did in 1944 with the original Bretton Woods System. We can and must put the bankrupt current international financial system through bankruptcy reorganization, and launch, on a global scale, what I have proposed with the domestic capital investment in massive infrastructure.”
LaRouche noted that prominent Italian officials have voiced their support for the convening of such a New Bretton Woods conference, and Russian leaders, including President Medvedev and Prime Minister Putin, have voiced similar support, particularly if the United States takes the lead.
“So no one in good faith,” LaRouche concluded, “can honestly claim that the current bailout scheme on the table of Paulson, Frank and Dodd is the only option. It is not the only option. It is the option of a dark age for civilization. My Plan B is available, is viable, and can and must be acted upon now. This week.”
Duration : 0:10:0
[youtube wHpvhG6IFlw]
January 25th, 2010 at 1:13 am
Well put!
Well put!
January 25th, 2010 at 1:13 am
but why should i …
but why should i care about monetary reform, the game is on, American idol is on, the shops are full of cheap crap to buy and i have a full belly.
and then one day they no longer had any choice…
can we stop repeating history yet?
January 25th, 2010 at 1:13 am
phil !!
phil !!
January 25th, 2010 at 1:13 am
i wish more people …
i wish more people knew about and understood this…thieving scum!!
the banks have messed it all up again…
January 25th, 2010 at 1:13 am
Great comment.
Great comment.
January 25th, 2010 at 1:13 am
the writing is …
the writing is illegible
January 25th, 2010 at 1:13 am
errata:Most of the …
errata:Most of the existing crap money was stagnating (in offshoe accounts) that’s why we are NOT seeing massive deflation,
January 25th, 2010 at 1:13 am
Hyperinflation …
Hyperinflation scenario assumes there is no shadow banking with trillions of speculative products that are worthless and might not take into account that most of the money is debt (not printed paper) so that defaults do not shift money around but actually makes money cease to exist. Most of the existing crap money was stagnating that why we are seeing massive deflation, there might be inflation when the money vanishing is less than the money being pumped(assuming the new $ arent stagnating)
January 25th, 2010 at 1:13 am
why cant i see the …
why cant i see the video
just moved new area zr
January 25th, 2010 at 1:13 am
thank you very much
thank you very much
January 25th, 2010 at 1:13 am
i had been looking …
i had been looking for something on the glass steagal act…. thnx a lot!
January 25th, 2010 at 1:13 am
or the potential to …
or the potential to overleverage..the tempation to exploit then of course they couldn’t cover it and we need a “necessary bailout” those bastards..
January 25th, 2010 at 1:13 am
this is where …
this is where corporate welfare started
January 25th, 2010 at 1:13 am
Thanks for posting …
Thanks for posting this.