Show: The LaRouche Connection

Episode: 0727 Civilization's Last Chance? Part 1.mpg


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Episode Description:

Program No. 727
“The Last Chance for Civilization?” Pt. 1

On Nov. 1, 2008 Lyndon LaRouche issued what he called the “November 11 Resolution,” in which he presented the indispensable measures to be taken in the face of the now hopelessly bankrupt world monetary system. He issued this Resolution as a discussion document for a private meeting to be held on that date, in Washington, with a satellite meeting in New York City, and identified the period between Nov. 11-19, as decisive for forcing a change in policy, at least among a leading group representing the institution of the U.S. Presidency. During that 9-day period, in addition to the Nov. 11 meeting, Mr. LaRouche gave an international webcast on Nov. 18, and a second private meeting on Nov. 19. During this brief, but crucial time, Lyndon LaRouche shook the world, as can be seen, in part, by the participation of members of President-elect Obama’s transition team in the discussion following the webcast, and by the questions and comments which poured in from across the globe.

Featured in this edition of The LaRouche Connection, are Mr. LaRouche’s opening remarks to the international webcast event in Washington, DC, Nov. 18, sponsored by the LaRouche Political Action Committee. The entire event, including a 2-hour discussion, was moderated by Harley Schlanger.

LaRouche: “What we’re involved in today, is a general breakdown crisis of the world financial-monetary system. There is no possible rescue of this system, as such. If you try to rescue it, you will lose the planet. You have to choose: Replace the system, or get a new planet. I think any sane person would say, ‘Keep the planet.’”

With the current system bogged down in more than a quadrillion dollars of speculative currency—more wealth than the world contains—there is not enough money to cover the demands of this currency. We’ve gotten to the point where we’ve got to sacrifice the currency claims or sacrifice the real, physical economy.

The United States must now, rapidly, re-assert sovereignty over its money. Under our Constitution, legal tender, can only be uttered with a vote by the U.S. Congress on behalf of action by the U.S. Presidency. Returning to this unique American Constitutional System, we can create what’s called a “credit-based dollar,” as opposed to a “monetary dollar.” In Europe, on the other hand, the monetary systems are not controlled by the governments, but by central banking systems, which negotiate with governments. Governments have no essential control, as issuing authorities, over debt and credit outstanding. And this is how artificial money was created: by people making a capital promise to go into debt, to get a greater amount of money uttered in their behalf, through such means as derivatives, now in the order of quadrillions of dollars, far above anything that could ever be paid. That is why we are never going to pay those debts!

Mr. LaRouche then takes his world-wide audience (listening in via the world-wide web), through what is required to be done at this point: put the whole shebang through bankruptcy reorganization. The U.S. needs to bring Russia, China, and India (to start with) to the table, to enter into an agreement on a new credit-based monetary system, and cancel most of the financial obligations of the current bankrupt system. Use trillions of newly issued credit for especially giant infrastructure projects worldwide, finally finishing the job President Franklin Roosevelt started: ending British colonialism. “Do we care what happens to our people, what happens to the country in the coming period, what happens to the world? Are we willing to kick against the pricks?”

[For a complete transcript of the webcast, see EIR magazine, Vol. 35, No. 47 (Nov. 28, 2008), pp. 4-39. On line at www.larouchepub.com]

Release Date: Dec. 8, 2008

Episode Short Description: N/A

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Date SD Episode Video Uploaded: Wednesday, July 8, 2009 - 20:56


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