Show: The LaRouche Connection

Episode: 0712 Averting Doom Pt 2.mpg

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Program No. 712
“Averting Doom,” Pt. 2

On March 12, 2008, Lyndon LaRouche conducted an international video webcast from Washington, DC, sponsored by the LaRouche Political Action Committee. Debra Freeman moderated the event. This edition of The LaRouche Connection features the conclusion of Mr. LaRouche’s opening presentation, and the first seven questions to Mr. LaRouche from the Discussion Session.

At the end of Part One of our coverage of this event, Mr. LaRouche was urging his listeners to use our nation’s uniquely Constitutional powers to get the U.S. economy moving again. “Protect the household. Keep people in their homes and communities. But you can’t save the homeowners, if you don’t save the banks! You have to save the local banks—the real ones that take deposits and loan money, and are vehicles of the Federal government and state governments to conduit funds through them, for local purposes or state purposes, and thus stimulate the growth of the economy. In this way you put people back to work, exactly the way Roosevelt did.”

He then proposes setting up a two-level credit system. Loans for authorized programs could receive Federal created credit, through the local, State, and Federal chartered banks at 1-2%. Loans for all other purposes would carry a floating (higher) rate. In this way, the banks are protected, by putting them through bankruptcy protection, and so are the people, and local communities, by keeping folks in their homes.

Also required is an economic driver program, involving large projects, especially nuclear power, which would “break the world free of petroleum slavery.”

LaRouche: “What we need is a revolt of the patriots: people who see what patriotism really means. Are you committed to some practical benefit for your nation, and the world?”

“We must overcome the stupidity which seems to control most members of the Congress and many citizens who prefer to be ignorant, because they like desperation better than solutions, in order to accept these three simple steps:”

1. Enact the Homeowners and Bank Protection Act, protecting legitimate banking functions, and homeowners.

2. Establish a two-tier credit system: 1-2% for government-authorized credit, letting the interest rate float, to 7-8-9% for other things. No stimulus package.

3. Bring together an alliance of the United States, Russia, China, and India, and bring other countries, and bring other countries into the same alliance, on economic policy, to create a new international monetary-financial system of fixed exchange rates, ending the presently hopelessly bankrupt floating exchange-rate system.

“Under these conditions, we can mobilize most of the world to get the Hell out of this thing and come back to a system where human beings can decently live again.”

From the Discussion Session:

• From someone associated with writing policy for one of the Presidential campaigns: “Sen. Clinton has refined her housing proposal to adopt policies that forcibly reduce the amounts of money owed by homeowners…. Can this be done without the establishment of a separate and new Federal institution?”

• From a Democrat member of the Senate, with close historic ties to the military: “Vice President Dick Cheney has recently called for an anti-missile defense system. You are repeatedly identified as the intellectual author of the Strategic Defense Initiative. Has Cheney finally come around to your point of view? Or, has your advocacy of an SDI changed?”

• From a group at the Hamilton Group: “We are grappling with the issue of economic vs. fiscal stimulus. Please address the question of a strong dollar. How would you defend the dollar in this framework?”

• From a member of the Black Congressional Caucus: Do you actually believe that Barack Obama is a fascist, or is he just being used? Isn’t it possible that he’s smarter than those who think they’re using him, and that he’s really using them?”

• From someone holding statewide office in New York: “Can you comment on the targeting of New York Gov. Eliot Spitzer?”

• From someone associated with a Presidential campaign: “Talk a bit more about what specifically corporativism is, and how it differs from what we know as the American System.”

• Composite question (from several sources): “Felix Rohatyn openly refers to himself as a follower of John Maynard Keynes, but recently tried to reverse his previous public hostility to Franklin Roosevelt, by saying he supported the New Deal. There are many ill-informed or lying authorities, who would insist that FDR and his Bretton Woods system were essentially Keynesian. Please address this.”

[For a complete transcript of the webcast, including the discussion session, see EIR magazine, Vol. 35, No. 12, March 21, 2008. Pp. 4-33. Or, visit, click on “LaRouche’s Writings,” and search for the March 12 Webcast listing.]

Release Date: April 9, 2008

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