Lyndon LaRouche forecast the collapse of British Imperial System

[Terry Mauro]

Lyndon LaRouche issued a warning that the financial crisis erupting around Banco Santander is but a reflection of the inevitable collapse of the British Imperial system.

Quote:

Any countries or individuals on the international scene who think they have a deal with the Brazilians and the London-run Eurozone to replace the dollar-based international financial system, Lyndon LaRouche stated today, are fools who are walking right into a British trap. They are engaging in stupid, wishful thinking, because the British are not capable of surviving the financial debacle whichthey themselves are unleashing. They are sitting on top of the

bomb that they have just ignited, LaRouche said.

This bout of unreality might well be called the "Santander Syndrome," since the British gambit revolves around Spain's Banco Santander, the number one bank in the Eurozone which is controlled and deployed by British financial interests such as the Royal Bank of Scotland, and old Venetian fondi such as Assicurazioni Generali of Venice.

http://www.larouchepac.com/node/13489

In another location LaRouche placed the Banco Santander crisis in historical context. Showing it to be a self inflicted fatal wound.

Quote:

To bring the presently immediate strategic assessment into

consideration, this past week's British financial crisis,

featuring a keystone role of Britain's nominally Spanish puppet,

Banco Santander, brings the world as a whole to the brink of

crucial strategic choices, choices on which the fate of all

humanity now depends for even the immediate future ahead.

Thus, my concern is for the safety of that necessary system

of cooperation among the respectively sovereign United States,

Russia, China, and India, now, before the otherwise inevitable

general breakdown-crisis of the planet already in progress takes

over the planet as a whole. Without that specific form of

cooperation which I have specific for action among a group of

nations led by those four, there is not a proverbial "chance in

Hell" that civilization as whole will not be plunged into a

prolonged, planet-wide new dark age, worse than that which struck

Europe during the medieval Fourteenth Century, if the present

policies of the United States and the British empire are

permitted to continue along their presently disastrous course.

It is to London's credit, if only in a certain manner of

speaking, that the British Empire appears not to have forgotten

the lesson of its victory at Paris in the February 1763 Peace,

the lesson subsequently spelled out by Gibbon's advice to Lord

Shelburne, in remarks accompanying the delivery of Gibbon's

{{Decline and Fall of the Roman Empire}}. Only the truly worst,

or most damned of politically illiterate fools of the world, will

insist, still today, that the British system is not that of a

fully witting world empire.

Presently, Britain's own, likely imperial misfortune, lies

in what it chooses to overlook; it overlooks the fact that, in

the inevitable, actual end-game built into Gibbon's scheme,

despite Gibbon's prayers to the wasted soul of Julian the

Apostate, the British system was, itself, ultimately doomed by

the very same means it has achieved what it has considered its

successes. By defining what was in fact, a period of empire with

finite beginnings and conclusions, it has written, with nothing

other than its own hand, a prophecy of its own doom. They wished

a Julian, and they received one, the British imperial monarchy of

today. One could take the pathetic case of that Nero-like British

puppet, the pathetic U.S. President Barack Obama, as a most

relevant case in point.

For example.

The British empire's most crucial victory of recent decades,

has been the result of the successful assassination of U.S.

President John F. Kennedy.

On that occasion, no one who should have acted, and was

capable of having done so, at the point of that assassination,

was willing to move. The moral stuffing had been largely taken

out of us during the nearly two corrosive decades since the

accession of President Harry S Truman. Thus, the British

interests and their assets within the U.S. government, adopted

the prolonged U.S. land-war in Asia which President Kennedy, so

advised by General of the U.S. Armies Douglas MacArthur, had

stoutly, and rightly resisted, and it has been all the way, down,

down, down, for the U.S.A. ever since.

France's King Louis XI, the inspiration for England's Henry

VII, knew that lesson from European history far better than

President Kennedy's fear-struck successor.

Such are some lessons from the past. Now consider the

present, and its possible future outcome in the light of the

past. Turn next, to the rather important, but otherwise

coincidental matter of the British puppet-institution known as

Banco Santander.

[Guest Stephen Turner]

There's only one tiny flaw in this, Santander are not in a financial crisis, in fact, they appear to have done very well out of the recent mess.

[John Simkin]

There's only one tiny flaw in this, Santander are not in a financial crisis, in fact, they appear to have done very well out of the recent mess.

You are far too generous in your assessment. There seems to be several flawed arguments in the article.

[Guest Stephen Turner]

There's only one tiny flaw in this, Santander are not in a financial crisis, in fact, they appear to have done very well out of the recent mess.

You are far too generous in your assessment. There seems to be several flawed arguments in the article.

Indeed, but life's to short to point up all the inaccuracies. I though by revealing that the main plank of the arguement is in serious error the rest would suffer by comparison.

[Terry Mauro]

John and Stephen,

So both of you are vouching for all the real estate values and derivatives instruments listed on and off the balance sheet of Banco Santander? Their paper isnt worth the paper.

That's the issue.

http://wlym.com/~leesburg/eir/tls/tls10021...he_show_374.mp3

[Guest Stephen Turner]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

[Terry Mauro]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

http://www.businessinsider.com/91-billion-banco-santander-is-spiraling-lower-again-today-2010-11

[Len Colby]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

http://www.businessinsider.com/91-billion-banco-santander-is-spiraling-lower-again-today-2010-11

Are we take it based on this post that you've accepted Steve's proposal? If so you have less than 3 months for Santander to go bust. But then again anyone who's been here long enough knows you don't pay your bets even when you have overtly made them.

[Terry Mauro]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

http://www.businessinsider.com/91-billion-banco-santander-is-spiraling-lower-again-today-2010-11

Are we take it based on this post that you've accepted Steve's proposal? If so you have less than 3 months for Santander to go bust. But then again anyone who's been here long enough knows you don't pay your bets even when you have overtly made them.

I wouldnt worry about any bet, the entire system is bankrupt.

[Terry Mauro]

If the Inter Alpha Group is not already bankrupt there would be no need to sacrifice the Irish population to brutal austerity.

Thousands Protest Against Irish Bailout

Henry McDonald - Dublin

More than 100,000 Irish citizens took to the streets of Dublin today to protest against the international bailout and four years of austerity.

http://www.commondreams.org/headline/2010/11/27

PS- 100,000 Irish citizens, not bad for a country of less than 5 million.

[Steven Gaal]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

++++++++++++++++++++++++++++++++++++++

Gee toooooooo BAD it DIDNT happen in a year.

http://www.businessinsider.com/banco-santander-earnings-2013-1

[Len Colby]

The great man speaks.

Tell you whst Terry, if old Lydon is correct, Santander will be a bust flush within a twelve month. If that happens I'll pay a Hundred pounds into any charity of your choise, if not, you do the same. I'll keep this one bookmarked.

++++++++++++++++++++++++++++++++++++++

Gee toooooooo BAD it DIDNT happen in a year.

http://www.businessi...earnings-2013-1

LOL only in Gaal's mind is a bank having its profits drop to 22 billion Euros (2.2 was an obvious typo) equal being "a bust flush".

Edited February 3, 2013 by Len Colby

[Steven Gaal]

GEE BANKING CRISIS OVER (FEB 4 / 13) ???

“Banks still are a very weak link in Europe’s recovery,” said Bas Jacobs, a professor of economics at the Erasmus University of Rotterdam. “Not enough losses have been written off. Eurobanks with impaired balance sheets become zombiebanks, which reduce lending to make up for those losses.”

Teetering banks are also the central issue in a bailout for Cyprus, which will be the euro-area’s fifth. As European leaders hold off on a rescue agreement for the Mediterranean island nation, a report cited by Nicosia-based broadcaster Sigma placed the worst-case scenario for recapitalizing Cyprus’s lenders at 9.2 billion euros.

That would make the country’s debt unsustainable, Sigma reported yesterday, citing a Pimco report.

Joachim Fels, chief economist at Morgan Stanley in London, cited concerns over a Cyprus bailout and possible debt writedowns that could again roil markets.

“I worry about a resurfacing of worries about bail-ins for bank creditors in Cyprus and even about euro exit, which could easily lead to another bout of the euro crisis,” Fels wrote in a note to clients yesterday.

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Is This The Beginning Of A Horrifying Stock Market Crash In Europe?

February 5, 2013

Source: Michael Snyder, BLN Contributing Writer

Are we witnessing the start of a historic financial meltdown in Europe? In recent days, two massive corruption scandals have greatly shaken confidence in European financial markets. The first involves Spanish Prime Minister Mariano Rajoy. It is being alleged that he has been receiving illegal cash payments, and the calls for his resignation grow louder with each passing day. The second is a derivatives scandal at the third largest bank in Italy. Allegedly, there were some very large unreported derivatives deals that were supposed to help hide losses at the bank, but instead they actually made the losses much larger. The investigation that is looking into this derivatives scandal is starting to spread to other banks, and nobody is quite sure how far down the rabbit hole this thing goes. But what everyone does agree on is that this derivatives scandal has shaken up Italian politics, and the outcome of the upcoming election is now very uncertain. Former Prime Minister Silvio Berlusconi is rapidly rising in the polls, and the European establishment is less than thrilled about that. Meanwhile, stock indexes all over Europe fell rapidly on Monday, and even the Dow was down 129 points. So will all this blow over in a few days, or is this the beginning of a full-blown stock market crash in Europe?

That is a very good question. Perhaps there would not be so much concern if the overall European economy was doing well, but the truth is that the underlying economic fundamentals in Europe have continued to get even worse. The unemployment rate in the eurozone is at an all-time high, and the unemployment rates in both Greece and Spain are now over 26 percent. Much of southern Europe is already in the midst of a full-blown economic depression, so it really has been remarkable that the financial markets in Europe have been able to hold up as well as they have so far.

But now all of that may be changing. Just check out what happened on Monday according to Bloomberg…

National benchmark indexes declined in all of the 18 western European markets, except Greece and Denmark. Italy’s

FTSE MIB Index (FTSEMIB)

sank 4.5 percent, the most in six months. Spain’s IBEX 35 slid 3.8 percent for a sixth day of declines, the longest losing streak in 10 months. France’s CAC 40 plunged 3 percent for the biggest drop since April. The U.K.’s FTSE 100 dropped 1.6 percent and Germany’s DAX lost 2.5 percent.

Unfortunately, what happened on Monday was just the continuation of a trend that started last week. The following is from Zero Hedge…

The

last four days have seen the biggest plunge in over six months with the IBEX (Spain -5.7%) and Italy’s MIB -6.7%

. At the same time, Europe’s seemingly invincible OMT-promise-protected sovereign bond market has started to underwhelm. Italian bond spreads are 32bps wider and Spain 28bps wider – the biggest increase in risk in two months.

European banks have been hit particularly hard during this recent downturn.

Just check out some of the huge declines that European banking stocks experienced on Monday…

UniCredit SpA: -8.3 percent

Commerzbank AG: -5.9 percent

Santander: -5.7 percent

Intesa Sanpaolo SpA: -5.4 percent

Credit Agricole SA: -5.4 percent

Société Générale SA: -4.8 percent

Banco Bilbao Vizcaya Argentaria SA: -4.7 percent

Those are huge moves for just a single day of trading. If we have a couple of more days like that, everyone is going to be talking about a “stock market crash” in Europe.

Unfortunately, it does not appear that any solutions to the scandals that are shaking up southern Europe right now will be forthcoming any time soon.

In Spain, it is increasingly looking like the Prime Minister may actually have to resign. A recent CNN article explained what the scandal is all about…

Rajoy denied on Saturday allegations that he and other leaders of his conservative People’s Party had received secret cash payments from a fund operated by the party’s former treasurer. Rajoy said he would publish details of his personal wealth and income tax states on the prime minister’s website.

Of course politicians all over the world are accused of doing evil things all the time, but in this instance it appears that there may be some solid evidence that Rajoy may not be able to deny. The following comes from a Bloomberg report…

Newspaper El Pais last week published allegations of illegal cash payments, featuring extracts from handwritten ledgers by the former People’s Party Treasurer Luis Barcenas showing payments to officials including Rajoy.

At this point, opinion polls are showing that even most of his own supporters do not believe him…

Polls show that 60pc of his own supporters do not believe the official explanation. A national petition drive calling for his resignation has already collected almost 800,000 signatures. Socialist oppo­sition leader Alfredo Pérez Rubalcaba yesterday joined the chorus calling for Mr Rajoy’s head, saying the country had ­become “ungovernable”.

So definitely expect things in Spain to get worse before they get better.

Meanwhile, the derivatives scandal in Italy continues to get more “interesting”. Italy’s third largest bank is on the brink of collapse due to huge problems with derivatives contracts, and that bank just happens to be closely linked with the Italian politician that is currently leading in the polls…

The Italian scandal is related to Italy’s third-biggest bank, Monte dei Paschi di Siena, which has received two government bailouts and may yet have to be nationalized as its losses mount.

The bank is closely associated to Italy’s Democratic Party, whose leader, Pier Luigi Bersani, is leading in the polls, though slipping from his highs as former prime minister Silvio Berlusconi makes a late surge before the Feb. 25th general election. “The Monte [banking] scandals now look like overwhelming the Italian election campaign and put [Mr.] Bersani and the Democratic Party’s victory at risk,” James Walston, political commentator at the American University of Rome, said in his Monday blog.

The Monte scandal centres on allegedly unreported derivatives deals that were apparently designed to hide losses and instead made the losses deeper. The bank, now under new management, has admitted that the derivatives losses might total more than €700-million.

So who benefits from all of this? Well, it turns out that as a result of this scandal former Prime Minister Silvio Berlusconi is rapidly gaining more support. The following is from a recent Telegraph article…

In Italy, ex-premier Silvio Berlusconi has upset the political landscape just three weeks before elections, surging back into contention with vows to rip up “German-imposed” austerity policies and cancel a hated property tax.

His Right-wing alliance has risen to 28pc in the polls, relishing a widening scandal at Banca Monte dei Paschi that has embroiled the Italian left.

But even if none of these scandals had happened, it was inevitable that the gigantic debt bubble in Europe would end up bursting at some point.

In fact, the entire globe is on the verge of a debt implosion. This was something that Bill Gross of Pimco discussed in his February newsletter…

“

So our credit-based financial markets and the economy it supports are levered, fragile and increasingly entropic – it is running out of energy and time.

When does money run out of time?

The countdown begins when investable assets pose too much risk for too little return;

when lenders desert credit markets for other alternatives such as cash or real assets.”

No debt bubble can expand indefinitely. At some point it can no longer hold itself together.

Europe is rapidly approaching that point, and so is the United States.

So how much time do we have left?

Edited February 5, 2013 by Steven Gaal

[Len Colby]

GEE BANKING CRISIS OVER (FEB 4 / 13) ???

Strawman since I never made such statement, I was only talking about Santander which is still highly profitable.

And OMG banks Cyprus are in trouble!? The end must be near!

Edited February 6, 2013 by Len Colby

[Steven Gaal]

Strawman since I never made such statement, I was only talking about Santander which is still highly profitable.// END COLBY

++++++++++++++++++++++++++++++

NO. THE THREAD IS ABOUT THE EUROZONE CRISIS THAT HAS NOT ENDED. (TWO INTERACIVE GRAPH ARTICLES)

Eurozone crisis: three years of pain

Greece's finance minister revealed a black hole in the country's budget in October 2009 – the first sign of a debt crisis that has shaken markets and sparked unprecedented austerity and protests

http://www.guardian....ine-three-years

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Graphic detail

Charts, maps and infographics

European economy guide

Taking Europe's pulse

Feb 5th 2013, 14:35 by Economist.com

http://www.economist.com/blogs/graphicdetail/2013/02/european-economy-guide

Edited February 6, 2013 by Steven Gaal