London orders S&P downgrade to orchestrate bailout

London orders S&P downgrade to orchestrate bailout

The London bosses of Standard & Poor’s instigated this week’s carnage on global markets to force through another round of hyperinflationary bailout, known as Quantitative Easing 3 (QE3).

David Beers, the London-based head of S&P’s sovereign credit ratings section, schemed with U.S. Treasury Secretary Timothy Geithner and Barack Obama, to announce a downgrade that the Obama administration could use as leverage for their $4 trillion “Big Deal” plan: to permanently undermine America’s Roosevelt-created welfare safety net by gouging trillions of dollars out of Social Security and Medicare; and to trash the U.S. Constitution by creating a fascist “Super Congress” to dictate ongoing budget cuts.

The intention of this “Big Deal” is to free up U.S. government finances to meet the private bankers’ demands of more bailouts for their bankrupt system; in effect, S&P is directing a coup against the United States, with the Obama administration’s complicity, to steamroll the strident opposition that has been building for months against QE3. As the CEC reported on 27th May, this opposition was so strident it forced bailout-happy Dominique Strauss-Kahn’s removal as head of the IMF.

Isherwood: We have the solution

Citizens Electoral Council leader Craig Isherwood today demanded S&P and private financiers be stripped of their power to dictate the running of the economy:

“After their AAA scam on subprime CDOs and CDS derivatives blew up the financial system in 2008, S&P’s bosses should be in jail for fraud, not dictating financial policy,” he blasted.

“Now is the time for national governments to step up and take charge of the financial system.”

Mr Isherwood continued, “This is a dire crisis, because it is more than a financial panic; it is a global economic breakdown crisis, accompanied by a social breakdown as seen in England, which threatens the lives of billions of people.

“The most important thing people need to understand, is that we in the CEC, along with U.S. Statesman and physical economist Lyndon LaRouche, know exactly what to do,” he declared. “We must apply the principle of people first—just because the monetary system is dead doesn’t mean we all have to die too.

“We must reject all banker demands for austerity on the people to pay their gambling debts, and put them into bankruptcy and/or jail instead. We must enact the policies Lyndon LaRouche is calling for—a global Glass-Steagall reorganisation of the debt, and national banking to regulate the financial system and direct credit into economic development.

“In other words, we must do what American President Franklin Roosevelt did in the Great Depression. The bankers hated it, and tried to run a fascist coup against him, but the people prospered.

“Otherwise, we are facing a New Dark Age, a hyperinflationary financial meltdown, a free trade and “green” induced collapse of the production of food and other essentials, social breakdown, and banker-dictated fascism.”

He concluded, “This week should have proved to some wishful thinkers that they were completely lied to by their political leaders, the media and so-called economic experts. The global financial crisis that erupted in July 2007 was never fixed, but made far worse.

“If you want to see a real solution, join the CEC and fight for it.”

ENDS

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