"It is clear to me," LaRouche warned, "that the entire global financial system is hopelessly bankrupt, and that the behavior of some key American officials, including Larry Summers, Nancy Pelosi and Barney Frank is tantamount to treason." LaRouche explained: "The President is clearly unprepared to deal with the horrendous financial and monetary collapse that he has inherited, and he is being hoodwinked into endorsing policies that will only assure that the entire system blows. Otherwise, President Obama would never have gone along with the swindle announced yesterday by his Treasury Secretary, Tim Geithner. You cannot solve this worst financial and monetary crisis in modern history by turning over the keys to the banking system--at taxpayers expense--to a bunch of hedge fund thieves. Is the President prepared to squander another $6 trillion in taxpayers money over the period between now and April 15? That is what the plan announced yesterday by Secretary Geithner is going to mean.

"I know," LaRouche continued, "that Geithner is not the sole author of this swindle. He is the vehicle through which the scheme has been floated. I have no doubt that, ultimately, this plan was hatched in London, which stands to lose everything if the offshore hedge fund empire is shut down. So, we are not dealing with a well-meaning blunder. We are dealing with a policy that is intended to destroy the United States altogether. It is coming from a London-centered financial oligarchy that is out to wreck the United States, beyond repair. And people like Speaker of the House Nancy Pelosi and House Financial Services Committee Chairman Barney Frank are fully complicit in this treasonous effort. For them, and for people like Larry Summers, their complicity in this action is tantamount to treason. If the plan, announced on Monday by Secretary Geithner is allowed to go forward, this can be the trigger that detonates the crash of the entire global financial system. This will not just bankrupt the United States. It will bankrupt the world."

LaRouche concluded, "President Obama is, no doubt, well meaning, but he has been taken in. If this continues any longer, the U.S.A. will be finished. I do not wish to see that happen. I do not wish to see worthless and semi-worthless paper on the books of the banks bought up by taxpayers' dollars at 80 or 90 cents on the dollar, and turned over as assets of the very offshore hedge funds that have played such a pivotal role in the unfolding of this crisis. I am speaking in blunt terms, because the stakes are so great, and nothing short of the whole truth is going to serve the President's needs at this time."

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LaRouche elaborated. ``This is the same kind of Keynesian--i.e. fascist--swindle that was put in place just hours after the death of President Franklin Roosevelt, by his replacement, Harry Truman. Truman's instant abandonment of FDR's Bretton Woods System, a credit system of fixed exchange rates, which was adamantly opposed by Lord Keynes, the British delegation and their Wall Street accomplices, was tantamount to treason by Truman. It was a betrayal of everything that FDR stood for, beginning with Roosevelt's commitment to the elimination of the British Empire at the close of the war. Truman's betrayal was a form of warfare against the United States. True, there were no guns pointed at American soldiers, but it was as much an act of treason as any act of military aggression during the war.''

Under the proposed Geithner PPPIP, announced today, private sector investors, led by hedge funds, would set the price of the toxic assets to be removed from the books of the banks--at vastly inflated prices. The hedge funds and other so-called private investors, themselves, would put up only a tiny fraction of the capital. The vast majority would come from taxpayers' money, pumped through the Treasury Department and the Federal Reserve. ``This is no different than the already discredited scheme of Paulson and Geithner from last Autumn,'' LaRouche explained. ``It is just a continuation of the TARP swindle, but with the hedge funds now brought in on the action--all at taxpayers' expense.''

LaRouche further noted that, to the extent that any private funds are channeled into this black hole, it further dries up private funds for productive investment. ``What this means,'' LaRouche concluded, ``is that the government is driven to come up with one Keynesian program after another--and that spells massive hyperinflation. That is why I warn President Obama, that if he goes along with this latest version of the same swindle that goes back to Harry Truman and his abandonment of FDR in favor of that self-professed Fascist, Lord Keynes, his Presidency is in jeopardy.''

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