PRESS RELEASE
LaRouche: Shut Down Wall Street Before it Kills You
Dec. 22, 2015 (EIRNS)—The entire trans-Atlantic financial system is on the very edge of collapse. It could happen any hour, any day now, as a growing number of financial experts have warned, and the result will be much worse than in 2008.
Just in the past days, four major hedge funds in the United States have gone bankrupt, all of them involved in the speculative financial bubble which now exceeds $2 quadrillion by conservative estimates. The fourth to fall, Avenue Capital Group, had to stop withdrawals from one of its larger funds on Dec. 15, after a sudden loss of $1 billion.
The junk bond market is not an isolated segment of the financial system, but the high-yield, high-risk market which produces “value” for the entire system. As the real economy slows down, and oil and commodities prices collapse, lending and securities based on those prices are also plunging. Such vulture investors as Wilbur Ross and Carl Icahn fear that the collapse could spread to the much larger investment-grade corporate credit market—possibly bringing down the entire Western financial system.
Whatever the case, the system cannot be saved. As Lyndon LaRouche has stated repeatedly, all the so-called money on Wall Street is nominal, speculative paper not worth a nickel, and must be written off in the same way Franklin Roosevelt did upon coming into office in 1933. President Roosevelt was then able to put people to work, and to return dignity to a population which had been driven nearly to death.
But the situation is far worse today, LaRouche said, especially since the mechanisms for confiscating people’s savings are ready to be implemented. He pointed to the Italian citizen who committed suicide after his life’s savings were “bailed-in.” In Canada as well, suicide rates have spiked among oil field workers, whose companies have been hit by the drop in oil prices.
“We cannot have more suicides,” LaRouche said in a statement which has been distributed worldwide. “We cannot allow it to continue.” Wall Street and the City of London have to be shut down, to protect the people, their income, their employment, their food supply, and even their lives.
