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Greek Daily Covers LaRouche Hyperinflation Warning
27 February 2013
(EIRNS)—The Feb. 23 issue Greek daily Hellada (Greece) published an article citing Lyndon LaRouche’s Feb. 16th warning that the transatlantic financial system is in a hyperinflationary situation because of the failure to implement a Glass Steagall reform. Written by Nikolas Laos, whose interview with Helga Zepp LaRouche appeared in the same daily on Feb. 25th, the two-page article was headlined "Economic and Political Figures Warn of Second Wave of the Global Crisis in 2013," with the kicker "Credit Supernova and Upcoming Chaos." To quote directly the first two paragraphs of the article, the content of which is drawn from the Feb. 21 issue of the EIR Strategic Alert: "Deep concern is expressed by many sides about the occurrence of a major new wave of global systemic crisis in the second half of 2013, after the start of this phenomenon in 2008. "First of all, with his usual harsh and radical language, Lyndon LaRouche, head of the political and cultural movement LaRouche PAC, and a bitter opponent of President Obama, warned on Feb. 16th 2013 that preventing or slowing the process of reforming the banking system in the spirit of the Glass-Steagall Act (the separation between commercial banking and investment banking) ’would cause a general breakdown crisis of the entire Atlantic system.’ He added that the bailouts’ ’hyperinflationary policy is now out of control. If you take into account the growth rates of hyperinflation, in this process, which is not stopped, the entire system is going to explode. We are now in a situation which is very similar to the Weimar hyperinflation, in the final phase, when inflation skyrocketed.’ "But the speech of technocrats and major international financial players are not at all optimistic. Bill Gross, chief executive of the financial giant PIMCO (it concerns the largest bond trader worldwide) in the prospectus issued in February 2013 wrote verbatim, that ’a credit supernova’ threatens the global economy and reaffirmed in its own way, the above-mentioned concerns of LaRouche. Specifically, Bill Gross confirmed that there is a serious problem because of hyperinflation policy bailouts in alarming proportions. ’In the 1980s $4 credit were needed to create $1 in the Gross Domestic Product. During the last decade $10 were needed, and since 2006 onwards $20 to produce the same result’..." [DEA] |