Waiting and hoping for real change. FDR memorial, Washington, D.C. Credit: Norman Maddeaux
The trans-Atlantic financial panic which is now developing is worse than that of 2008; it puts us on the edge of the collapse of economy and civilization.
Although Wall Street is fiercely insisting that “it’s only the European banks,” this is a lie shown by their own trillion-dollar pile of bad assets, with their derivatives now beginning to blow out. We await the first major bank failure, perhaps as early as this month, or this week. But the real panic is what will then follow. A quadrillion-dollar mass of derivatives connect all these megabanks together since Glass-Steagall was done away with. They have already reduced the trans-Atlantic and Japanese economies below zero growth; their collapse will destroy those economies.
We can save the United States from bankruptcy and collapse. Congress can take emergency actions. With a Glass-Steagall reform, Congress can shut Wall Street down, and then start creating national credit for investments in real productivity in the American economy—for the first time in half a century. It requires the science driver “mission” of a fully revived U.S. NASA program, in collaboration especially with China’s, India’s, and Russia’s space programs.
Saving the United States from bankruptcy requires more than unconditional surrender by Wall Street; it also requires Congress to remove Barack Obama from authority, or Wall Street’s panic can end in Obama’s world war.
We are at the brink of Turkish-Saudi invasion of Syria, acting on plans made with Obama’s Defense Secretary Ashton Carter, and directly risking war with Russia.
The move, which could be upon us now, makes no sense. It is insane for an increasingly bankrupt and discredited Saudi Arabia, and an already destabilized Turkey, to stage an illegal invasion and put the planet on the verge of world war. Russian President Putin’s intervention since Sept. 30, 2015 had not only created the alternative to an ISIS/al-Qaeda takeover of all of Syria; that alternative also has been successful in moving the war close to ceasefire.
These threatening invaders are irrelevant. The war factor is Obama, and the British bankers and royals who guide and control him. If Obama is openly pushing Turkish and Saudi pawns, to threaten a war which can destroy civilization, the backlash to that action may cause his removal from the office of President by use of the 25th Amendment.
The greater war factor is the now-rapid collapse of the banking systems and the economies of Europe and the United States. Wall Street’s panic is the reality. Stick to the job of shutting it down immediately. If we do so, we have the means—with Russia and its ally China—of avoiding Obama’s world war.