Russian Conference Endorses Global Glass-Steagall

[GlassSteagallfan]

Russian Conference Endorses LaRouche's Global Glass-Steagall

November 9, 2011 • 10:23AM

The official resolution of the International Conference on Fundamental Problems of Sustained Development in the System of Nature-Society-Man, held Oct. 24-25 at Dubna University in Russia, has now been published. It includes the following unanimous endorsement of Lyndon LaRouche's calls for global application of the Glass-Steagall principle and a fixed-exchange-rate financial system, and the launch of infrastructure and industrial development projects for the next 50 years:

"In view of the persistent threat of disintegration of the existing world financial system, caused by the ballooning of speculative capital, which has no real backing and has reached astronomical dimensions (USD 1.5 quadrillion, by some estimates) as of 2011, as well as the fact that the measures proposed by countries party to the global crisis are insufficient and have not reduced the size of the 'soap bubble,' which is fueling negative trends within the world economy and aggravating the global crisis, additional measures are urgently required.

"In this connection the participants in the conference unanimously support the call by Lyndon LaRouche and Helga Zepp-LaRouche for curing the world financial system through adoption of the necessary, top-priority measures, including:

"- a restoration of Roosevelt's Glass-Steagall law (dated June 13, 1933), which forbade banks from using citizens' deposits for their purely trading operations, as well as defining investment in the real economy and in future infrastructure projects, within the global economy;

"- adoption of a system of fixed exchange rates by participating countries;

"- government support for industry-banks, which invest in projects in the real economy, including the innovation economy, based on a system of fixed exchange rates;

"- agreement on and implementation of long-term (around 50 years) government contracts with the national central bank and a system of industry-banks, in order to create conditions for a transition to the sustained innovation-based development of countries taking part in the global process of preserving the development of planetary life on Earth."

As reported earlier, the keynote presentation at the Dubna event was a video address by Lyndon LaRouche and Sky Shields on "Principles of a Credit System for Economic Recovery and Transformation of the Earth and the Cosmos." (click here for keynote transcript) The participants also had an opportunity to study Helga Zepp-LaRouche's Aug. 12 document, "Breakdown Crisis Out of Control: Urgent Appeal for a Global Glass-Steagall System," which was circulated by the conference organizers in Russian translation.

The organizers' conference bulletin notes that the event was attended by 120 representatives of scientific institutions in Russia, Kazakstan, Kyrgyzstan, and Ukraine, including a dozen universities throughout Russia: from the St. Petersburg State Polytechnical University in the west, to Arkhangelsk's Northern Arctic Federal University, to the Far East State University in the Pacific Ocean port city of Vladivostok. Greetings were received from the deputy chairman of the Federation Council (the upper house of Russia's Federal Assembly) A.P. Torshin, Academician Yu.S. Vasilyev, who heads the St. Petersburg State Polytechnical University, and the vice president of the International Engineering Academy, A.A. Speransky.

It was announced during the conference that the Dubna International Scientific School—"Project Management of Sustained Innovation-Based Development"—has been awarded the Order of the Glory of Russia, a prestigious recognition of outstanding public service in the national interest, as determined by the official Russian Heraldic Chamber.

The LaRouche-Shields video has drawn over a thousand viewers in its first ten days online at RuTube and YouTube (additionally, it is available in the Dubna conference video archive). In one representative RuTube comment, a viewer exclaimed that Shields "is close to the Russian Cosmists in his thinking"—the term refers to a school of scientific thought including the Russian-Ukrainian biogeochemist Vladimir Vernadsky and Konstantin Tsiolkovsky, one of the fathers of space flight—and expressing amazement that "somebody is working to popularize the ideas of Vernadsky in the United States!"

keynote transcript: http://www.larouchepac.com/node/20002

RuTube: http://rutube.ru/tracks/4939521.html?v=4f935c8fd004b34e35fa0d1f9a4d6956

YouTube: http://www.youtube.com/watch?v=OJpYN0i9fls


http://www.youtube.com/watch?v=OJpYN0i9fls

[ktlight]

GlassSteagallfan, extremely interesting stuff. I want to know more.

[Maia Gabrial]

Can't we just get away from money altogether? As long as money is a motivator, there will always be crime and greed...

[Bill Ryan]

Can't we just get away from money altogether? As long as money is a motivator, there will always be crime and greed...

Not possible:

If I grow apples, and I live next to my neighbor who grows potatoes, we can trade our crops.

But if my apples are ready before his potatoes, I give him my apples -- but he gives me a note promising to give the potatoes later, when they're ready to be dug up.

Now, there's a third neighbor, who grows cherries. He wants some potatoes. The potato-grower doesn't like cherries. But I love them.

So I give the cherry-grower my note from the potato-grower -- and he gives me his cherries. Now he can collect the potatoes later.

And now we have money. :)

The problem is not the notes of exchange (which is all that cash is). It's the banking system, and the way money is created as debt through lending, which is then abused by the bankers and the citizens.

Watch this marvelous video:



http://video.google.com/videoplay?docid=-2550156453790090544

[spiritguide]

I hope this all means that we share as a species, without ego, for the benefit of all and that common purpose and good are the cornerstones of future human evolution. Anything less cannot succeed and only start the cycle over that leads to the present situation. We don't need to be governed into the future, we need to be led by leaders. The populace openly feels this and the awakening is opening up minds everywhere. As the universe evolves so shall we. IMHO

[Gardener]

"- a restoration of Roosevelt's Glass-Steagall law (dated June 13, 1933), which forbade banks from using citizens' deposits for their purely trading operations, as well as defining investment in the real economy and in future infrastructure projects, within the global economy;

My sentiments exactly, it isn't difficult, in fact it is really easy, its just common sense. Roll it back, loan only when there is a proof of re-payment, the ablity to re-pay. Banks just need to stay out of the casino of derivitives and any other speculative area. I don't know anything about trading but i don't need to to see they are theives when nothing tangible is being traded.

g

[GlassSteagallfan]

GlassSteagallfan, extremely interesting stuff. I want to know more.

Sky Sheilds, the narrator in the video, is part of the LaRouchepac.com Basement Team. Sky is extremely smart and is now in many of the Weekly Reports which air every Wednesday with Mr. LaRouche.

Go here: http://www.larouchepac.com/basement