The following mass circulation leaflet was released today by the LaRouche
Political Action Committee, as the collapse of conditions of life
in the United States is quickly approaching the genocidal conditions
in Greece and others in Europe.
Mike
Billington
Glass-Steagall or Mass Genocide
October 31st, 2013 • 10:09 AM
LaRouche PAC issued the following statement, for mass circulation, on Oct. 30, 2013.
The entire trans-Atlantic financial system is hopelessly bankrupt, and the
only solution to this crisis is the immediate reinstatement of Glass Steagall in
the United States. Unless the Congress passes Glass Steagall in the coming days
and weeks, with a veto-proof majority, breaking the power of Wall Street and
restoring a commercial banking system free from the quadrillion dollars in
derivatives and other gambling debts, the American people will soon be facing a
mass kill, far beyond the genocidal horrors that have been imposed on Greece,
Portugal, Ireland, Cyprus and Spain. Wall Street must be bankrupted before they
bankrupt us all.
Every month, the Federal Reserve, with the full backing of President Obama,
pumps $85 billion in fresh bailout money into Wall Street and the major European
banks. At the same time, the White House and Congress have agreed to impose
killer austerity cuts on the vast majority of Americans. In the coming months,
the body count will skyrocket, as health insurance costs triple, as the health
care delivery system is vastly scaled back, and vital social safety net
programs, from Medicare and Medicaid to Social Security and Food Stamps, are
stripped down to a minimum.
Already, under Obamacare,14 million Americans have lost their existing health
insurance, thousands of doctors have been fired by the major HMOs, critical care
hospitals are to be shut down all across the American heartland, and home health
care services are being cancelled. Whether you can afford health insurance or
not, the doctors, nurses, hospitals and research facilities are not going to be
there unless you are among the wealthiest handful of Americans.
To be blunt: This is how it was in Nazi Germany under the Hitler T-4
euthanasia program, and this is how it is in Great Britain today with the Tony
Blair-initiated N.I.C.E. program, under which medical care is denied to those
deemed to be lives not worth living.
In order to feed Wall Street's insatiable appetite for bailouts, hard-working
Americans are being told that their pensions can no longer be paid and they are
facing a brief life of abject poverty, despite decades of contributions to their
pension plans. City workers in Detroit have been told that their pensions will
be cut by 90 percent, which is nothing less than a death sentence. What is
happening in Detroit today is in the near-future for every city in America. In
New York City, the home of the Wall Street too-big-to-fail banks, the official
poverty rate is 46 percent.
Under Title II of the Dodd-Frank bill, not even your household savings
accounts are secure. As in Cyprus, your savings will be looted as part of the
so-called bail-in scheme to save the banks at all costs.
The message coming from Washington is clear: If you are old, sick or
disabled, you are as good as dead. If you are young, you have no future. The
message is coming from President Obama and from Congressional Republicans, who
are fully complicit in plans to vastly reduce Social Security, Medicare and
Medicaid. So far, the vast majority of Democrats in Congress have been cowed
into accepting Obama's diktats.
The only serious fight-back is coming from those in Congress who are backing
the return to Glass Steagall. With two bills in the Senate (S. 985 and S. 1282)
and one in the House (HR. 129) with 75 co-sponsors, Glass Steagall could be
restored now. It is no exaggeration to say that this is a life or death issue.
Under Glass Steagall, the United States can return to a
Constitutionally-mandated credit system and launch an era of unprecedented
economic growth and prosperity for all. Without Glass Steagall, we are facing
mass kill.
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