The historic opportunity of 2011!
February 12, 2011
by Helga Zepp-LaRouche
(translated from German)
On the world scene now unfolding drama unprecedented The Egyptian people has been freed from a dictatorship, a process comparable to the fall of the Berlin Wall in Germany in 1989. The situation of the global financial system resembles a minefield where the slightest misstep could trigger a chain reaction leading to the complete disintegration of the financial and banking sector, similar to the collapse of Century 14. Meanwhile, the internal watchdog of the International Monetary Fund admitted the total failure of that institution, while more and more people around the world recognize the historical significance of the report Angelides, as the first institutional reaction responsible to the biggest financial crisis the history of mankind. Mubarak's resignation and the dramatic events in Egypt, are paradigmatic signs that the global system has been a miserable failure.
The events in Egypt, together with the report Angelides in the U.S., providing a ray of hope that can still save humanity on the brink!
Although it certainly was not his intention to do so, Greenspan and Bernanke rescue package with its hyperinflationary, and IMF Managing Director Strauss-Kahn, with his infamous conditionalities, have actually contributed to these positive developments in Egypt!
Because the findings of the Independent Review Commission (ERC) of the IMF, in the sense that the IMF's policy literally abounds in errors of judgments based on false premises, not limited to judgments and prescriptions in the context of the global financial crisis. Were in particular IMF policies toward developing countries which resulted in a disaster. And one of the reasons why, after Mubarak has been in office for over 30 years, the West suddenly realize just three weeks ago is a "dictator", is the fact that during all these decades, Mubarak was fully enforcing the program that the IMF would prescribe. This includes the devaluation of the currency of Egypt and the systematic privatization of the institutions and companies public and state property. The IMF is assigned to a share of privatizations that had to comply. And the new bosses who came, not even blinked ordering layoffs, which eventually led to Egypt at a rate of 30% unemployment and growing impoverishment.
The IMF forced Egypt to overthrow their agricultural tariffs and export fruits, vegetables and cotton to earn foreign exchange, thus making it unable to produce for their own internal needs. Was denied credit for infrastructure, energy and industry, instead of this is promoted tourism. Until about two months, the Mubarak government was determined to impose a second phase IMF. This left young people adrift, without the inspiration of a great project. In 30 years, nobody has raised a national aspiration that promises a better future. Under the leadership of Mubarak, Egypt ignored his African neighbors.
There are grounds for hope to the people there not only wants to get rid of Mubarak, but most want to replace every aspect of each of the policies that have to do with him and the IMF, with a real prospect of rebuilding. Egypt is not only a country of Asia and Africa, but is also the cradle of European culture, and if he can do this, it will be an inspiration to the entire African continent, and throughout the Arab world.
Europe should really help Egypt build the country's economy. Projects such as construction of new satellite towns to relieve the pressure on Cairo to expand arable land through irrigation projects that go to the Qattara Depression, building a modern infrastructure, power generation with high energy flux density, and modern industry, must be part of the immediate discussion, and must have available the necessary funds. And most importantly, you have to throw away everything even remotely related to the IMF.
Because, most significant is the admission CIS on the false IMF methodology, the prospects for that institution can be reformed, they are simply invalid. Its directors and associates are an army of monetarist instilled in neoliberalism, they have not even been able to dominate the pace of globalization, and not have the slightest idea about physical economy. But maybe there is still some hope for the IMF, if you completely replace your current staff with innovative industrialists, scientists and managers of savings banks of the old school.
Financial resources are also totally out of focus with their reports on the Report Angelides predicting, it will not have any effect. Only ten days after it was unveiled this report, without hesitation revealing the history of the past 30 years, revealing the causes of the worst crisis in the history of financial markets, and has become the book most sold in the U.S., and is to be the most sold in many other countries. Any teacher or student who is serious, and every politician who wants to keep his job, is now busy studying this report, more attractive than any of the TV police drama "about the people behind the financial crisis.
This report is a must read for all quines have seen their livelihoods ruined or damaged as a result the repeal of Glass-Steagall regulation and subsequent deregulation of the financial sector. And also to all those who are still doing relatively well, but recognize, intellectually and morally, that the system of deregulation of globalization not only endangers the lives of millions of human beings but is also threatening the very fabric of our society is still only partially free.
Each of the members of our federal parliament and state assemblies will have to be calibrated now by his attitude toward Angelides report, because while this 600-page document presents ruthlessly criminal machinations of the bankers and hedge funds, is completely lacks a commission equivalent here in Germany or in any other European nation. This is the reason, the BüSo began two years ago, a campaign calling for the convening of an Pecora Commission here, in order to expose the criminal activities in connection with the financial crisis. But the only response from our representatives in parliament, was that there were insufficient grounds for suspicion!
All German citizens have to make with this report, which soon will be available in German under the title Der Bericht FCIC, and should see their state and federal representatives, mayors, city Assembly members and members of municipal councils and requiring that the findings of this report also apply to the situation here. The directors of small and medium industries, and hundreds of city and municipal governments, have already filed lawsuits against certain banks who sold them betting on interest rates, with the full knowledge that their clients would be the losers, while among its members boasted that this was the only way to gouge money from their customers.
Therefore, instead of walking ridiculous fighting over the details of the law of Hartz IV unemployment, we should completely get rid of this inhuman law which, after all, is nothing more than simple outcome of these financial practices such as denouncing the report Angelides. And if repealing all measures made necessary by the deregulation of financial markets-that is, if you reinstall the Standard Glass-Steagall and allowed back to commercial banks issue credit for full-time productive employment Hartz IV becomes irrelevant.
control basic food prices
We must act now, because within weeks, could have a domino effect of nations for bankruptcy in the euro area. The Irish government is delaying payment for 10 billion euros to the Irish banks, depending on the outcome of new elections scheduled for February 25 and we anticipate that the next government will refuse to honor agreements with the suicide of Ireland troika of the European Commission, the European Central Bank (ECB) and the IMF. Portugal will not be able to continue paying for a long time the current interest rates of 7% on government securities, and if Portugal falls, this will drag him to Spain.
is noted
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