European Banks and the United States

In an April 14th address, published on LaRouchePAC.com, Lyndon LaRouche pointed to major events in the transatlantic community contributing to two possible outcomes in the near future. “Whether civilization will crash, which is a possibility, or whether there will be a recovery of civilization, this decision will be made largely in Continental Europe, including Russia, and the United States.” He went on to say the latter outcome will depend on breaking through existing, downward trends with new trends and new options. The upcoming April 22nd elections in France could become a breakout situation with the growing influence of French presidential candidate, Jacques Cheminade. Running on the campaign theme: “A world without the City or Wall Street, great infrastructure works for tomorrow,” Cheminade has propelled himself into prominence both in France and internationally, especially with his recent prime-time appearance on two major French media stations, France 2 and TF1, where he discussed his policy of eliminating illegitimate debts through a Glass-Steagall Act, and answered questions on his comparison of U.S. President Barack Obama to Adolf Hitler. Further, on April 8, Cheminade became the first French presidential candidate to expose the Eurex plan to market new financial instruments speculating against French state bonds. It is more than an election ploy, but an attack “operating out of the City and Wall Street to make France—and more generally all nation-states—crawl.” Cheminade continued, “In front of the expected turbulence and the war the financial markets are declaring on France, our country, thanks to her history and the nature of her institutions, is neither helpless nor unarmed.” He went on to detail how a Glass-Steagall separation of deposit from investment banks, would be a defense against such acts of financial warfare. Outside of these and similar leading policy initiatives, like the proposal for Glass-Steagall in Italy, there has been a failure on the part of the vast majority of European governments, a failure to deal sanely with the Euro crisis, which could break out, triggering a transatlantic and, ultimately, a global financial collapse. That crisis is currently accelerating with the depletion of the already expanded €1 trillion EFSF fund, the tension around ratifications of the ESM, the increasing likelihood of a Spanish default, the May 31st Irish referendum on the Austerity Treaty, and the May 6th Greek elections. In the event Jacques Cheminade were to emerge as a leading candidate in France, with his current platform, La- Rouche noted, “You’re going to have an effect in Spain. The Greek effect, the Italian effect, and the German, are all going to change.” A change in those global components, in tandem with the direction of Russia following their March elections, would have immediate effects on the United States. “A situation where there is a collapse over the control of politics in Europe, will mean a shock effect inside the United States, the hatred of what’s going on in the United States, economically and otherwise, by the number of leading people—still sane people—is such that that combination can change the course of world events. “It could also go the other way.” The contempt the American population has for Barack Obama accelerated over the past week. Supplementing the ongoing efforts of LaRouchePAC, media activists Alex Jones and Sean Stone inaugurated the national Movement to Impeach Obama, focusing on Walter Jones’ House Concurrent Resolution 107, “Expressing the sense of Congress that the use of offensive military force by a President without prior and clear authorization of an Act of Congress constitutes an impeachable high crime and misdemeanor under article II, section 4 of the Constitution.” There has also been a surge of web activity centered around the LaRouchePAC article “Four Deaths of Obama Opponents a Remarkable Coincidence?” The article questions the statistical likelihood of four political opponents of Obama dying suddenly between the lead-up to the August 2008 Democratic Convention and March 2012.