July 2014 – Page 9 – Toms Blog on Life

On behalf of the Citizens Electoral Council, CEC National Secretary Craig Isherwood today endorsed the following emergency call by Schiller Institute founder and chairman Helga Zepp-LaRouche, to defend the nation of Argentina against the attempt by City of London and Wall Street speculative funds to crush it, in order to repay unjust, usurious debt.
Said Isherwood, “In his beautiful exhortation Evangelii Gaudium, Pope Francis has denounced the present speculation-based global financial system as ‘the dictatorship of an impersonal economy lacking a human purpose’, as an ‘economy which kills’. At the time of its 2001 default on its international debt, Argentina had a 25 per cent unemployment rate with fully 50 per cent of its citizens living in abject poverty. It renegotiated that debt and has been paying it regularly since 2005, but only because the nation grew by directing credit into its industrial and agricultural sectors. Now, these vulture funds, with the full backing of the U.S. Supreme Court, and of the Obama administration itself as of 2 July, intend to simply destroy Argentina under pretext of paying the debt.
“This is not only evil, but insane because Argentina can not and will not back down, and a full Argentine default would probably blow out the world’s financial bubble of almost $2 quadrillion in derivatives.
“I am proud to add my signature on behalf of the CEC to that of Mrs. LaRouche and urge all Australian citizens and institutions to do likewise. We must, as the Pope has demanded and for which Mrs. LaRouche has below provided some of the specifics, enact a ‘radical financial reform’ on behalf of the common good of all people, and all nations.” http://cecaust.com.au/main.asp?sub=pubs&id=NC_07_12.html
Do You Support Argentina—or the Criminal Speculators?
A battle to the death is ongoing between Argentina and two of the most notorious hedge funds, NML Capital and Aurelius Capital Management, and its outcome will determine whether humanity plunges into disaster and probably annihilates itself in a thermonuclear world war, or whether we get our act together in time and put a new, just world economic order on the agenda.
What is going on?
On the one side, are the unscrupulous mega-speculators, whose greed is insatiable, and who are part of the Anglo-American-dominated imperialist grouping. This grouping is attempting to establish a world empire through such activities as: the 24/7 spying on citizens by the NSA and Britain’s GCHQ; the Transatlantic Trade and Investment Partnership (TTIP), which would give all power to the multinationals and the “Too Big To Fail” banks at the expense of the right of sovereign governments to protect the general welfare of their citizens; the relentless eastward expansion of NATO and the EU, including with an ever more sophisticated Ballistic Missile Defense (BMD) system whose clear purpose is to enable thermonuclear first strikes against Russia and China, but which would unleash a thermonuclear holocaust and likely wipe out the human race.
One of the hedge funds, NML Capital Fund, is demanding a payment of $832 million on the bonds it purchased in default at the scrap price of $48.7 million only six years ago — a profit of 1,608 per cent! That would force Argentina into bankruptcy, and could very well trigger a systemic crisis of the global financial system.
On the other side stands Argentina, which has emphasized and proven that it wants to pay its debts, but in such a way that the Argentine economy maintains the growth needed to be able to do that. This was also, by the way, the argument by the late Deutsche Bank chairman Hermann Abs at the London Debt Conference in 1953, on the subject of restructuring the German debt.
Argentina has made it clear in an international advertising campaign, that it is paying and will continue to pay, but under conditions that do not kill off its own population and economy.
The recent murderous ruling by the U.S. Supreme Court in support of the hedge funds has triggered an unprecedented wave of solidarity with Argentina: the Organization of American States (OAS) — except for the United States; the G77, with its 133 member states; MERCOSUR (the Southern Common Market); UNASUR (the Union of South American Nations); China, Russia, France, and even 100+ British parliamentarians — i.e., the majority of mankind — are all defending Argentina’s rights against the usurers.
The crucial question here is: Is international law, as it evolved from the Peace of Westphalia in 1648, and as expressed in the UN Charter, still valid, or not? Can and must a sovereign government defend the general welfare of its citizens, or do criminal speculators have the right to use all means, as Shakespeare depicted so vividly in “The Merchant of Venice,” to demand the debtor’s “pound of flesh,” even if that means that the person dies?
There is a breathtaking process underway now among the BRICS countries (Russia, China, India, Brazil, South Africa) and Ibero-America, in which these States are constructing a new, just world economic order, based on building up the real economy, scientific and technological progress, and a vision of the future. This is the idea of a World Land-Bridge that will join peoples and nations as the driver for a world economic renaissance to replace the present, speculation-centered globalist nightmare which is driving the world toward war.
The only thing that the trans-Atlantic camp has to offer is the sacrifice of the common good, of the happiness and the life of its people, in favor of a Frankenstein monster, “the stability of the market,” to which anything and everything should be sacrificed, but which is itself hopelessly bankrupt. This system does exactly what Pope Francis says: It kills. You could also call it satanic.
In the struggle between Argentina and the hedge funds, there is no middle ground. Which side are you on? Which side is your government on? We want an answer!
Signed:
Helga Zepp-LaRouche, Chairman, Schiller Institute