THE GLASS STEAGALL ACT WILL REVERSE THIS BAILOUT OF THE DERIVATIVE PAPER SCHEME!
With our national debt over 12 trillion dollars, the deficit spending by Washington DC continues to mortgage fruits of our future labor to fund federal programs we don’t need and cannot afford. Rand Paul would fight to balance the budget and dramatically reduce spending, before further interest on our debt requires government to reach deeper into our pockets and into our children’s piggy bank.
LaRouche declared that the only option is for the U.S. Senate to pass the Cantwell-McCain amendment to the Dodd bill, that would reinstate the Glass Steagall separation of commercial banking from the speculative mess. “Otherwise, under the policy announced on Sunday night by the Fed, the United States and Europe are headed for 1923 Weimar-style hyperinflation, right now! Unless we stop this madness through the restoration of Glass Steagall, the entire planet is doomed to a rapid plunge into a new dark age.” –LaRouche
LaRouche reiterated his warning of May 11, that the $1 trillion-plus ‘super-TARP’ bailout of the entire bankrupt European Monetary Union, which was announced on Sunday night by the Board of Governors of the Federal Reserve Bank, is doomed to fail. “The entire purpose of the way the Greek debt crisis was handled, was to destroy the United States,” LaRouche declared. “The Greek debt crisis could have simply been handled by a sovereign restructuring of their own debt. –LaRouche
With so much blame going around for the current financial crisis it is surprising that so few in the mainstream press have discussed the role of the Federal Reserve System. For too long the Federal Reserve has operated behind a shroud of mystery—as Senator I would make sure that all Americans understand the dangers of unsound monetary policy and shed light on this secretive organization. –Senator Rand Paul