With the shocking news coming out in the past few days that the economy is still in really bad shape, that there is no recovery, it hits home the sad fact that all the bailouts did absolutely nothing to help neither the global economic nor financial crisis, which in effect, are one and the same.
Didn’t the “experts” tell us that if we (the government, and ultimately the tax payers) didn’t bail out the banks and investment firms that there would be a major financial crash? Weren’t many or our politicians told to vote for the bail outs or there would be martial law on the streets?
Yet, all those trillions of dollars in bailouts and we are worse off. There’s no turn around in site, at this point. We were lied to, ripped off and put in economic despair by criminals on Wall Street and the politicians who supported them, including the president.
Doesn’t it seem strange to you that President Obama, like Bush before him, rushes to bail out the banks, continues funding for several wars with no problem, but when it comes to helping the states out with their budgets, or rebuilding after a natural disaster, he claims there’s no money? Obama will visit a disaster site like Joplin, Mo. But where’s the help? Where’s the relief aid? New Orleans is still not rebuilt after Hurricane Katrina.
President Obama, and much of the Congress, unfortunately, is part of a global financial system which is responsible for the resulting crisis. The corrupt dying system is trying to save itself at the expense of the rest of the world’s population.
There is, however, a battle now to put an end to the monetary system of Wall Street and the City of London in order to save what’s left of our nation. That fight is over the Glass-Steagall Act of the Roosevelt era. This will create a firewall within the banking system between speculative investments (toxic assets) and real, productive economic activity.
A revived the Glass-Steagall Act would break the financial, and therefore political, power of Wall Street and international finance to control America’s economic policy. That’s why the British stated publicly that a Glass-Steagall Act would be considered an “act of war.” They, British global finance, understand that this is a war against nation states.
It’s time the American people also understand that we are at war and that Glass-Steagall is the opening salvo to win that war. Below is a link to a video by the LaRouche Pac explaining the battle going on now and what needs to be done.