Mr. Coats, The idea of a National Bank that directs credit into the productive areas of an economy, such as manufacturing and new modern infrastructure, as opposed to the current bankrupt speculative derivative bubble, is far from being “corrupt”; it, along with the global restoration of Glass-Steagall is the necessary ingredient to reviving economic growth! Alexander Hamilton as our first Treasury Secretary proved the necessity of a National Bank, to provide the credit to develop the young American Republic and won over President George Washington with the argument that providing such credit was necessary to carry out “the General Welfare”. The purpose of such credit, according to Hamilton was not simply to “make money”, but to “increase the productive powers of labor “, by increasing science, technology , and new forms of manufacturing. The argument of the British Empire apologists, like Adam Smith and later others, is that man could never understand what should be the outcome of economic activity, so man, he argued, should just “pursue pleasure and avoid pain” - like an animal - while the “invisible hand” of the so-called “free market “ would magically regulate the economy! This was - and still is- the argument of a financial oligarchy to run the world- and treat humanity as cattle - at the same time calling this form of economic slavery “freedom”! No, you are wrong about the BRICS -Plus, Russia, and China. They are discussing measures of economic development and cooperation which are akin to the American System of Hamilton and Henry C. Carey, as opposed to the British System of Central Bankers running the world through financial manipulation and calling this “ freedom from corrupt nation states”! The problem is that the US and Europe must join with this new economic combination- or face economic collapse and global war to defend a bankrupt speculative system. No, we need strong central governments, which was Hamilton ‘s intention with the creation of the Constitutional Republic and the establishment of the National Bank. Why is the IMF and private Central Banks operating for imperial money interests somehow superior to National Banks which lend money for development projects in the “General Welfare “? Why are such National Banks “inherently corrupt”, but the IMF and Central Banks “morally pure”? If you look at China’s Belt and Road , you see the application of Hamiltonian American System economics. The purpose is to not to make money for a few billionaires but to promote real physical economic growth. The original Bretton Woods plan of FDR was to develop the underdeveloped world with new TVA and other Infrastructure projects, all based on the Hamilton idea, and to end the idea of imperialism forever. This plan was sabotaged, and the fixed-exchange rate system of Bretton Woods was replaced with the floating exchange rate to manipulate currencies and enslave nations to international bankers’ dictatorships, all done, of course, in the name of ensuring “freedom”! No, the IMF system, which was set up by FDR to develop the underdeveloped world, became an instrument of financial empire. Sovereign nation states have to come together, to create a New Bretton Woods. The bankruptcy of the western financial system provides the opportunity for Americans to overthrow the new form of the British imperial system, which is this IMF system , and go back to the Hamiltonian American System. This is what Lyndon LaRouche fought for and why he was so vilified and defamed by the representatives of the British imperial system pretending to promote “freedom”, while they bankrupted nations. Regards, Gerald Belsky
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