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LIBOR-gate Never Again: Glass-Steagall Now

The National Slate  The following statement was released by Congressional Candidate, Kesha Rogers of the 22nd district of Texas

The entire criminal operation that has turned our cities into slums, stolen our pensions, bankrupted our cities and states, and murdered our most vulnerable citizens, all in the name of “too big to fail”, has now been exposed as “LIBOR-gate”. Let us be clear: this is not an interest rate scandal; what is exposed is, all the hell you’ve been suffering for the past 5 years, since the 2007 collapse of the system and the 2008-2012 taxpayer bailouts, was planned, preventable, and entirely intentional. The highest elements of government and finance crossed party lines to form a bipartisan coalition to murder Americans.

LIBOR is the London Inter-Bank Offered Rate, which is the interest rates banks offer to pay, when institutions buy their debt. 75% of major cities across the country purchased interest rate swaps, to “protect” themselves in case interest rates went up. But what has been revealed is that 16 major banks decided to rig the interest rates, and artificially lower them. Emails indicate that then-New York Federal Reserve Chair Timothy Geithner, in 2007, knew this was going on, and not only did nothing to stop it, but covered it up. When he became Obama’s Treasury Secretary, Geithner rewarded the banks that did it with taxpayer bailouts. The effect was that all these cities lost big money, while the bankers got their mortgage-backed securities, derivatives, credit default swaps, and other gambling debts bailed out with your tax dollars. Then the bankers foreclosed on you, demanded their contracts be paid, refused to lend, and said, “Your 401k has lost $150,000, so sorry.” All this while, the Bush and Obama administrations, working with the Federal Reserve, and Wall Street and European banks, knew the whole thing was a set up, from the very beginning. Instead of throwing these criminals in jail, our government held passed sham legislation, which did nothing to protect you.

This is the British Empire we have always talked about: using private ownership of money and debt, along with paid for politicians to enforce their laws, a financial-industrial cartel seeks to rule over nations and destroy our standard of living for their personal profit. Most Americans have known in their gut that we we’re being swindled by our leaders since the bailouts, but now the criminals are exposed in the court of human history.

– The Solution Is There, If You Fight For It –

There currently is no rule of law to prosecute this international crime spree. What is required is the immediate reinstatement of the original Glass-Steagall Act of 1933, now in Congress as H.R. 1489, with 71 cosponsors. Only Glass-Steagall will restore the rule of law outlined in the Preamble of our U.S. Constitution. As LIBOR-gate erupted, elements within the British oligarchy flipped, from calling Glass-Steagall “an act of war” to joining with LaRouche PAC in demanding its reinstatement. This call is coming in a period where we have reached the end of the system, just as Lyndon LaRouche warned, back in 2007. The breakdown of the trans-Atlantic system is well underway, and hyperinflation is looming. Even the British oligarchy has realized the disintegration of the banking system has reached a point of no return, and Glass-Steagall is now a matter of survival or extinction.

LIBOR-gate signals that the banking oligarchy, which funded Obama’s 2008 presidential bid, are now dumping him. This, combined with the Republican Party’s investigations into Fast and Furious and Wachovia/HSBC drug money laundering, and the Democratic Party’s attacks on Obama’s war crimes and human rights violations, opens the door for Obama to be dumped as the 2012 nominee for president, before the September Democratic National Convention.

With the reinstatement of Glass-Steagall, we will separate the fictitious gambling debt from the legitimate debt, refusing to pay any of the fictitious debt that is looting our cities and states, while protecting our community banks so they can lend for real productive jobs in industry and manufacturing. We must then institute a national system of credit, modeled on the first Treasury Secretary Alexander Hamilton, for investing into long-term large scale scientific and technological projects such as NAWAPA XXI and manned space exploration, to increase our nation’s productivity in collaboration with sovereign nations throughout the world, including Russia and China, for advancements in human progress. This is the policy the national slate of LaRouche candidates is campaigning on.

Now is not the time to wait around and see if something will happen. Your survival depends on making it happen. Glass-Steagall is not an option; it is a necessity. It is time now for the American people to break with the bad trends in thinking that Wall Street’s degenerate leadership has corrupted our nation with for too long. It is time we commit ourselves to a greater mission of progress for those generations to come.

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7 Responses to LIBOR-gate Never Again: Glass-Steagall Now

  1. Angel-NYC says:

    Good find, David2. Thanks for posting it.

  2. Mark Schumacher - NV says:

    Get the hell out of the regular banks and sign on with a credit union. Everybody does that and you will see some big changes, believe me.

  3. David2 says:

    Thanks Angel-NC

    The sad thing is that so few connect the dots, all the debt in the world could disappear overnight and the world would be no worse off.

    The roads, the factories, hospitals, tools, people, the land, minerals, trees, oceans, rivers, factories which are the real wealth and the source of all wealth creation would still exist, the people would be free of the enormous burden of usury and debt by the private bankers, so taxes would be almost nothing and a burden lifted from mankind.

    We live with an illusion of the threat of an illusion. It is propaganda, it is unreal. Poverty and suffering in the world is totally unnecessary apart from natural calamities, banker made poverty is a crime against humanity.

    Somehow we cannot break free of the small circle that confines each of us from the magnificent abundant universe where we belong.

    So much suffering created by such self deluded aliens that think they are the entitled to be the entitled, these psychopaths for whatever beliefs that join them into a group of evil oppressors are definitely inhuman.

    All the people in the world if put in Australia would each have one acre of land, children should not be hungry on this earth. Respect is all that is missing.

  4. diggerdan says:

    What is simple is living within our means. There is nothing wrong with having money, but buying that new car, that big screen t.v. ect. ect. and having to take a loan out from credit unions or some sleazy bank is wrong. Greed will bring people down,and people will find it impossible to stand up and be proud. All we got to do is live within our own personal means – very hard but very simple isn`t it but it works. Just plain honest and simple!

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