This thread was also posted here: http://www.dailypaul.com/272596/lyndon-larouche-claims-feder... with multiple comments. I remember looking at it earlier this week because someone said they thought LaRouche was a Crypto-Commie and that stuck in my memory so I went and found the post.
Anyways, I guess he likes FDR because he wants to create his own works project of sorts: “ NAWAPA XXI, a 21st-century advancement of the continental water management project, the North American Water and Power Alliance. “
He wants to restore a public system of credit like Hamilton’s First National Bank:
“Additionally, nearly half of the NAWAPA XXI report is dedicated to a proposal to fund NAWAPA through the restoration of the historic U.S. system of public credit. This proposal begins by separating valid debts from gambling debts under a new Glass-Steagall act, and continues stepwise to the establishment of a National Bank and the funding of NAWAPA XXI. The national policy precedents are then illustrated in detail, discussing Alexander Hamilton's establishment of the first National Bank,”
The words “system of credit” make me think of something I read last week from McFadden regarding the Federal Reserve being an asset based currency http://www.apfn.net/Doc-100_bankruptcy28.htm :
“One-half million dollars was spent on the part of the propaganda
organized by these bankers for the purpose of misleading public opinion and
giving Congress the impression that there was an overwhelming popular demand
for it and the kind of currency that goes with it, namely, an asset currency
based on human debts and obligations.”
"The Fed Note is essentially unsound. It is the worst currency and the most
dangerous that this Country has ever known. When the proponents of the act
saw that the Democratic doctrine would not permit them to let the proposed
banks issue the new currency as bank notes, they should have stopped at
that. They should not have foisted that kind of currency, namely, an asset
currency, on the United States Government. They should not have made the
Government [liable on the private] debts of individuals and corporations,
and, least of all, on the private debts of foreigners. "As Kemerer says:
'The Fed Notes, therefore, in form, have some of the qualities of Government
paper money, but in substance, are almost a pure asset currency possessing a
Government guarantee against which contingency the Government has made no
"The old struggle that was fought out here in Jackson's time must be fought
out all over again. The independent United States Treasury should be
reestablished and the Government should keep its own money under lock and
key in the building the people provided for that purpose.”
"Asset currency, the devise of the swindler, should be done away with. The
Fed should be abolished and the State boundaries should be respected. Bank
reserves should be kept within the boundaries of the States whose people own
them, and this reserve money of the people should be protected so that the
International Bankers and acceptance bankers and discount dealers cannot
draw it away from them.”
I realize that is a lot of text, but it seems that McFadden was speaking of the problem with Asset Currency and LaRouche wants to go back to a Credit based currency and bear does not know the difference between them or really, what a good currency would be. Except that Joe says that the Good faith and credit of the American people is basis for a currency and that currency can be rocks…rocks of any size and shape. Currency can be pieces of paper traded based upon the time and hardness of labor. Currency can be anything as long as there is competition and I suppose we should add the word voluntary to it?.
“Very few people know the VOLUNTARY or genuine versions of either capitalism or socialism, I'd say roughly 1% of the population understand the difference between voluntary capitalism/socialism and involuntary captitalism/socialism”
The only reason I was able to ask:
“False Capitalists" would those be involuntary capitalists?”
Is thanks to Josf’s beating a dead horse. Now I might be part of the 1%. But know, it took me a few minutes to review those words “False Capitalist” and come up with “involuntary.” And I still put it in the form of a question, because I was not sure I had the right conclusion. And then again, you used the word "understand," not just know, so maybe I am approaching the 1%.
"It is necessary to shut down Bernanke."
WOW the false capitalists will be swarming like roaches on this one?
"You also have to establish a credit system; we haven't seen one of those for a long time."
42:48 NAWAPA Project?”
A bait and switch routine? LaRouche keeps talking coupe de ta…like Obama will have to incorporate one to stay in power. I almost wonder if LaRouche wants one of his own to get into power as a 2nd incarnate of FDR.
I remember you telling me about the man whose father’s cows were ordered shot by a government man during the depression. That reminds me of the Raw Milk Cheese business in Missouri put out of business by a government man. Confiscating power thru disposing of power…and LaRouche wants a National Work Project and a national credit based currency like that of Hamilton’s First Bank.
Joe, that is very interesting. Very interesting indeed. You read between the lines and pick up on financial information while everyone else is thinking about a court case to get Obama impeeched…
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