"They can; they're going to have to do it," he said. "All this bullshit: `we're going to see if we can do it....' The whole thing was a fraud perpetrated against the American government. And therefore, I don't care what the agreement was, if the agreement was an instrument of fraud, then the agreement is cancelled. It's that simple! Stop this bullshit! A fraud against the US government, does not mean this is an obligatory arrangement. If it's fraudulent, if it's misleading, if it violates the separation of state from private interests, in those cases it's cancelled, and these guys would pay the money back! I want us to get the money back, now!
"To teach the world a lesson as to who's boss," he added.
On the fact more than $100 billion of the AIG bailout has gone to cover derivatives bets, LaRouche asked, "Why should anyone have to pay that? It's a gambling debt! It's not an asset, it's a gambling debt! We should go out with an all-out pitch, the whole organization: `They're stealing! They're stealing! Stop them from stealing! The President must stop them from stealing. Somebody has to go to jail. These guys should go to jail!' The contracts should be cancelled! We're not obliged to honor it! It's a gambling debt! We don't pay gambling debts!
"Put organized crime into bankruptcy!" he expostulated.
"Cancel it! Cancel it! The United States government cannot be taxed implicitly for gambling debts. People who lose on gambling debts should eat their losses, or run away and hide!
"The idea that they had a moral obligation, or something, on the bonuses. This is what the crap is," he continued. "It's not legal: you cannot make agreements with the government, behind the government's back.
"And this was a crony operation!" LaRouche said, referring to the fact, among others, that Goldman Sachs has been the leading beneficiary from the AIG bailout, secretly receiving at least $12.9 billion of taxpayer money for worthless derivatives gambling-chits. "Call this cronyism gone wild. All these guys were cronies. A couple of these guys from Wall Street should be in prison right now! Sitting there awaiting trial, but under custody, so they can't run away. Goldman Sachs is the number one. The officers of Goldman Sachs should be in prison now, being held as a precautionary measure, so they can't run away, and they can't get any assets. This would be the proper procedure; this is a fraud against the government."
Former New York Governor Eliot Spitzer has just pointed out that the AIG bailout was agreed on last fall in a meeting of government officials Hank Paulson, Tim Geithner, and Ben Bernanke, joined by "private citizen," Goldman Sachs CEO Lloyd Blankfein!
"And they're afraid that someone is going to say this is an attack on the capitalist system," LaRouche added.
"Bankruptcy reorganization is exactly what should be done," he concluded. "The whole world system is bankrupt; therefore the whole world system has to be put into bankruptcy reorganization. That can only be done by individual governments and by groups of governments. So, the point is, cancel this whole thing! The bailout ends! We just went bankrupt; we're putting everything through bankruptcy reorganization!
March 21st Webcast Invitation
March 9, 2009 (LPAC)--On March 21, 2009 at 1 pm Eastern Time (10 am Pacific), leading economist and former Democratic Party Presidential candidate Lyndon LaRouche will address an international webcast of the utmost strategic importance for not only all American citizens, but for individuals everywhere. The event will be broadcast live at http://www.larouchepac.com
March 9, 2009 (LPAC)--On March 21, 2009 at 1 pm Eastern Time (10 am Pacific), leading economist and former Democratic Party Presidential candidate Lyndon LaRouche will address an international webcast of the utmost strategic importance for not only all American citizens, but for individuals everywhere. The topic: War Against the British Empire! The event will be broadcast live at http://www.larouchepac.com
As LaRouche outlined the theme on March 7: ``We are presently in a state of war. It's a war against the British Empire. The United States' existence is being attacked by the British Empire, and we have this crazy fascist, former Prime Minister of England Tony Blair coming in, and brainwashing a bunch of not only our citizens, but some of our members of Congress.'' They are attacking us, and our President, on every front, using Wall Street and any other fascist asset, like George Soros, which they can.
``So, now we're out to win war! And everything we do, every day, is to mobilize in the morning: You know, at Reveille, you're going to get up, and you're going to start fighting war! And some of the people will start fighting the war before Reveille, just to get things moving. We're out there for a war against the modern equivalent of the Liberty League, the bunch of traitors, the bunch of Fascists whom we fought in the 1930s in the form of the Liberty League which now represent the crowd behind Gingrich and so forth today. So we're going to fight that war, and we're going to win it: That's our major objective.''
Tune in to www.larouchepac.com at 1 pm Eastern (10 am Pacific) March 21, 2009.
March 15, 2009 (LPAC)--Popular anger over taxpayer bailouts could be tipped over the edge by the Obama Administration's unwillingness to say where the AIG bailout money went, writes Washington Post senior columnist Jim Hoagland, who is clearly alarmed by what he calls the gathering forces of radicalization and social explosion in the U.S. Citing Larry Summers' refusal to answer a question about AIG, Hoagland warns that the government needs to "get in front of what could become a destabilizing public anger," and explain what happened, or else things could get out of control.
Lyndon LaRouche's approach is more to the point: call a Pecora Commission hearing immediately to unmask the full extent the crimes involved in the efforts to bail out the British imperial system. Expose it, and change it--or face the pitchfork brigade of incensed Americans.
Hoagland's alarms came even before the news broke on Saturday night, that AIG will pay $165 million in bonuses to executives in its Financial Products division, the subsidiary whose derivatives trading bankrupted AIG. U.S. taxpayers have so far coughed up $173 billion in federal bailout funds to keep the AIG charade going. It was reported last week by ABC that AIG's Financial Products Group--the epicenter of the AIG collapse--is based in London; it was responsible for losing almost $500 billion.
These bonuses come on top of $121 million in bonuses already paid out by AIG while it sucks on the taxpayer teat.
News stories claim that Treasury Secretary Geithner allegedly objected to the bonuses, but that AIG said they were legally obligated and could not be canceled. AIG's chairman Edward Liddy said he can't retain "talented staff" (the very same staff who lost billions gambling in derivatives such as credit default swaps!) "if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury." (Continued and arbitrary bailouts by the U.S. Treasury are apparently OK.)
When Administration spokesmen tried to defend this "legal contracts" ruse on the Sunday talk shows, a couple of the hosts pointed out, in a clear reference to auto worker unions and others, that workers are constantly being asked to give up contractually-guaranteed wage increases and benefits.
The only solution to the new dark age crisis is in going back to the most profound level of ideas embedded in our Hamiltonian American System of physical economic science, now significantly refined through the LaRouche-Riemann method! Everything else is just more of the same, though on a world wide genocidal scale, waste of time! Let the post Bretton Woods System go, it is a dead skunk which can never be revived. While you still have the liberty given of our forefathers and the free will to act, do so act within the only defensive effective means to save our nation, go with LaRouche. Oh, by the way, only LaRouche, "The Lone Economist", was right!
March 21st Webcast Invitation for the free and the brave solutions.
This is the third, and concluding document of an EIR series written in this author's supplementary response to a question submitted, with an eye to the subject of a new U.S. economic policy, during the course of an international webcast of January 22, 2009, on the current economic crisis. The titles of the preceding two documents of the series are "Nations as Dynamical" and "The Meaning of Physical Time." PDF version of this article.
]]>"If this Gordon Brown is so opposed on principle to tax evasion, those congressmen might have asked themselves, why did he not as chancellor [of the Exchequer] demand transparency from Jersey, the Cayman Islands, Bermuda, and the rest? With Brown in the Treasury, Britain regularly lobbied the UN and EU against moves to bring financial services under great multilateral supervision."
There is an estimated $8.2 trillion British pounds of private wealth currently sitting in "tax havens," that would produce 180 billion pounds in lost tax--more than double last year's global aid budget. But, says the Guardian, cracking down on tax havens would serve "an even more profound purpose--to recast the debate on offshore taxation in moral terms. A better expression for tax havens is 'secrecy jurisdictions,' where along with the profits of legal activity, the spoils of fraud, terrorism, drug trafficking and plunder ... are hidden."
LPACTV: LaRouche Declares War on the British Empire
http://www.larouchepac.com/node/9443
March 8, 2009 (LPAC)--As American taxpayers, you all now own the world's largest insurance company--or rather, its now-broken down holding company--for a mere $173 billion (and counting) in taxpayer dollars. Bankrupt, it was sold to you without your permission or even that of Nancy Pelosi's and Barney Frank's corrupt Congress, by your agent, the Goldman Sachs CEO Hank Paulson who posed as U.S. Treasury Secretary for several years. Now, it is revealed, Paulson's "Goldman Sucks" has gotten the biggest share of that money, trailed by two dozen other international banks and hedge funds.
It has been known for months that the ever-growing bailout/takeover of AIG was vaporizing trillions of dollars in the notorious London-run market for "credit default" derivatives contracts. This has been accompanied by AIG's payout of effectively all of the taxpayer bailout money--now at $180 billion committed--to its "counterparties" on these derivatives. These had to be banks and hedge funds, and it has been rumored that Goldman Sucks was the head pig at the trough.
That's now confirmed. Just two days after a Federal Reserve official was pummeled at the Senate Banking Committee--particularly, by Sen. Richard Shelby--for refusing to name AIG's lucky "counterparties," Fed sources have leaked them to both the Wall St. Journal and New York Times. Of the first $50 billion AIG payouts with Treasury money, which the Journal has learned of, $7 billion went directly to Paulson's and Tim Geithner's Goldman Sachs; $6 billion went to Deutsche Bank; other beneficiaries were HSBC, RBS, Morgan Stanley, Merrill Lynch, Bank of America, Societe General.
The Times' sources told the paper that this $50 billion is probably only about one-quarter of the story of AIG's "pass-through" of taxpayer bailout funds to banks and hedge funds.
Call out the new Pecora Commission. Here's pure political corruption by the former Treasury Secretary, carried out in plain sight, and accomplished by a complicit congress, lead by "Miss Leadership" Nancy Pelosi and Barney "Bailout" Frank. Paulson, meanwhile, was melting down the gold at Goldman Sachs.
LPACTV: Weekly Update 03.07.09
http://www.larouchepac.com/node/9433
Freeman: The next question comes from someone who is part of the economic advisory board for the President, and who is also a very prominent Roosevelt scholar. He says: "Mr. LaRouche, as I'm sure you are aware, President Obama has repeatedly been forced to defend FDR's pre-war policy from those individuals who insist that the New Deal was a failure, and that, in fact, the only thing that got the United States out of the Depression was the Second World War. From a policy standpoint, I find this to be completely absurd. The truth of the matter is that the United States would have never been in a position to fight and to win the Second World War, had it not been for FDR's pre-war policy. From the standpoint of being an historian and an FDR scholar, I find this to be absolutely offensive. However, I do think that it is important to take the question up, since it is now being spread about so widely. Could you please comment on your own assessment of President Roosevelt's pre-war policy, and also what it is that motivates these people to launch this kind of attack?"
LaRouche: This is a very interesting question, and it has a rather simple answer, but it requires some explanation to understand what we're talking about.
On the day after Pearl Harbor, Franklin Roosevelt moved toward war, and assumed war powers. Under these conditions, certain Wall Street and Chicago interests, which had been the supporters of Mussolini and Adolf Hitler, up to that point, sort of deserted their offices and moved over to new premises, and continued with the same equipment.
Now, Harry Truman, as Senator, was part of this group, and he showed that, after Roosevelt's death. So, what these guys--like the American Enterprise Institute--these institutions today were constituted after Pearl Harbor as new organizations, containing the same intention as the supporters of Mussolini and Adolf Hitler, in the United States and Britain, during the 1920s and 1930s. Up until 1940-41, these guys were hard-core fascists, all of them, including the firm, for example, of Prescott Bush, Brown Brothers Harriman. Brown Brothers Harriman represented American and British interests, Wall Street interests. Brown Brothers was tied to the head of the Bank of England, who was the creator of Adolf Hitler. So these guys, and the Mussolini supporters--of course, Winston Churchill was a great lover of Benito Mussolini; I don't know if they had the same sexual inclinations or not, but anyway, the same kind of thing. So, these guys, who were fascists of the Coolidge variety and the Hoover variety, continued in power in the United States, as on the Supreme Court case, that issue, which was illustrated with that, up until we went into war after Pearl Harbor.
Now, the first thing you have to look at--is like this woman, [Amity Shlaes], who's the leader in this campaign, is tied to things like the American Enterprise Institute--these guys have exactly the same philosophy, economy, and politics, that the Nazi supporters, the Hitler supporters, the Mussolini supporters, had in the 1920s and 1930s. These are the people who were opponents of Roosevelt then.
Now, you've come to a time when this British crowd, the same British crowd, is moving toward a new kind of fascism, a revival of fascism, which is what the Bush Administration really was all about. And that's the problem. So they are lying, as the questioner put it; they're just plain lying. There's no truth to what they're saying. There's no truth to what this notable woman is saying. She's a liar! She's a degenerate.
Now, the other aspect of the thing, which you know--the questioner--is, you know the story of Harry Hopkins. You know the story of how this began, when Britain and Japan were engaged in a treaty to attack and destroy the United States naval fleet, in large degree, on the high seas. And it was at this time, in the early 1920s, that the plan was made, the agreement was made, between Japan and the United Kingdom, to have Japan take out Pearl Harbor as part of this joint British-Japan operation. The pretext of this, was that Japan was brought into the fold of the British Empire during the 1890s, which resulted in Japan, under British direction, launching the China wars, the Japan-China wars of 1895 through 1945. There were some breaks in there, but Japan was at war, and aimed to destroy and break up China, from 1895 to 1945. That was the policy. This policy was a policy which had been set by the British.
The British, of course, had been for Hitler; they had been for Mussolini--until the German Wehrmacht succeeded in taking over France, because of cooperation with the fascist government of France, which invited Hitler in, in effect. At that point, the British saw that the Western Front had been breached. They were very happy to have Hitler going against Russia, against the Soviet Union and other states in Eastern Europe. They were never upset about the killing of the Jews by Hitler--not at all! But when Hitler's forces were in France, and threatening the British fleet with a takeover by getting the French fleet, of taking over the naval power, then the British suddenly became anti-Hitler. Reluctantly, but anti-Hitler, without giving up any of their bad tendencies.
And what happened is, when Roosevelt died--and the British knew that Roosevelt was out to destroy the British Empire as soon as the war was over, and he was--then, the British moved in with their Harry Truman. And Harry Truman was sympathetic to this kind of interest.
So, what you had in this whole period, you had the same financial interests, which are British-linked, come back into power by taking over control, with Harriman and company, for example: Harriman, who had been responsible for Prescott Bush, in financing Hitler. Harriman became a key figure of the Democratic Party, and one of the controllers of the Democratic Party in the post-war period.
So, if one knows the history--as I'm sure the questioner probably knows a good deal of this, and knows the history of these right-wing think tanks, like those centered around Chicago, which were creations of pro-Nazi organizations in the Wall Street community, and Chicago community before--then there's no mystery about what these bastards are doing. They were fascists then, and they're fascists today! And, like fascists, they lie like fascists (not like rugs).
Text Transcript:
http://www.larouchepac.com/node/7966
Fascists, Then and Now, Stalk the FDR Legacy
http://www.larouchepac.com/news/2009/02/22/fascists-then-and-now-stalk-fdr-legacy.html