April 20, 2010 -- Are you surprised by recent allegations that Goldman Sachs was involved in a financial swindle? This has been the character of the economy, as statesman Lyndon LaRouche has warned, since 1987. The real question is, why haven't we put this dead system through bankruptcy? Goldman Sachs received billions of dollars in bailouts as this swindle was carried on, as did every other financial institution in the world. No one is safe from this collapse, and no amount of financial bailout will save this bankrupt system.

Only a Global Glass-Steagall bankruptcy reorganization will work, by separating the worthless “assets,” from those tied to the real economy. All derivatives, and related financial trash, will be thrown out. Don't let the Harvard economists fool you: these gambling bets are not improving the economy. There is no way for the economy to be “safer” when it's based on a financial bubble.

We must throw the financial gambling out, along with our worship of “financial contracts.” Instead we should restore a contract with a higher power!

John Winthrop, founder of the Massachusetts Bay Colony, spoke of a higher liberty, which he called civil or federal liberty, which was “the liberty to do only that which is good, just and honest.” His follower in the next generation of American founders, Cotton Mather, brought this principle to economics, when he introduced into the colonies the true artificer of economic freedom and national sovereignty, public credit. In 1691, he wrote in Some Considerations on Public Credit, “Now what is the security of your paper money less than the credit of the whole nation?” To continue, what is the security of your credit, but the assurance of an increasingly productive economy? And what assures this increased productivity, but new technologies, and more efficient organization of infrastructure?

Even more importantly, what can you give to future generations from your having lived? Let's not just give them a “debt-free” future, let's give them an actually better future!

The economy now can only be saved through a global bankruptcy reorganization, according to Glass Steagall standards. We must defend the interests of the nation, by forcing all loyalists to the British monetary empire, such as President Obama, and my opponent Barney Frank, out of office.