(July 22, 2012) President Obama’s Treasury Secretary Timothy Geithner has been caught dead to rights covering up the rigging of interest rates on $800 trillion in financial transactions, including mortgages, college loans, credit cards and municipal debt. Documents from the New York Federal Reserve Bank and the Bank of England show that Geithner knew, by no later than 2007, that the 18 biggest U.S. and European banks were fixing the Libor (London Inter-Bank Offered Rate) rate to profiteer at the expense of now-bankrupt cities and counties throughout the United States and Europe. Geithner is guilty of covering up the crime of the century. He should have resigned from office two weeks ago, when the filthy details of the Libor scandal first came to light. President Obama should have fired him on the spot for his role in the deaths and suffering of tens of millions of Americans, who lost healthcare, fire and police protection due to the bankers’ looting.
Of course, President Obama has no intention of dumping Geithner, since he, himself, is guilty of a string of “high crimes and misdemeanors” and has followed Geithner’s every demand on behalf of Wall Street and London, from one bailout to the next, as millions of Americans lost their jobs, their healthcare, their life savings and, in too many instances, their lives. What did the President know about Geithner’s role in the Libor scandal? When did he know it? These are questions that Congress and the American people have every right to have answered.
Both Obama and Geithner are also complicit in the protection of drug-trafficking bankers, who have laundered trillions of dollars in dope proceeds, through some of the biggest Wall Street banks. On July 17, the Senate Permanent Subcommittee on Investigations, chaired by Sen. Carl Levin (D-Mich.), released a 330-page report with an additional 100 pages of documents, showing that HSBC, formerly the Hong Kong and Shanghai Banking Corporation of British Opium Wars infamy, has been responsible for laundering over half of all of the illegal drug money that has gone through U.S. banks over the past decades. That same British bank not only laundered money for the murderous Mexican drug cartels; HSBC also laundered funds for Saudi banks implicated in financing the 911 attacks. All of these criminal acts by HSBC, documented in the Senate report, took place while Geithner was either President of the New York Federal Reserve Bank overseeing HSBC, or Obama’s Treasury Secretary.
From drone assassinations of American citizens without a trace of due process, to launching an illegal war in Libya, to covering up the Fast and Furious government program that armed Mexican drug cartels with weapons that killed at least two American Federal agents, to the most devastating leaking of U.S. national security secrets ever, this President has done far more damage to the United States than George W. Bush and Richard Nixon combined. If these crimes by Obama and Geithner are tolerated any longer, there is a very high probability that the world will be brought to the very edge of thermonuclear extinction, through new wars in the Middle East targeted against Russia and China, ostensibly over Syria and Iran. War on Syria and Iran was intended to be launched immediately after the assassination of Muammar Qaddafi last October, but strong war-avoidance efforts by the Russian government, by the U.S. Joint Chiefs of Staff and other patriotic circles around the globe, have stalled—but not prevented—those wars. Russia has made clear that any new wars, under the banner of “humanitarian interventionism” and the end of national sovereignty can and will lead to general war, involving the use of thermonuclear weapons. Russian President Vladimir Putin is not bluffing on this in the least. Lyndon LaRouche has spelled out a clear way out of this civilizational crisis, beginning with the immediate removal of President Obama from office through Constitutional procedures. This must be done immediately, starting with the ouster of Geithner and his immediate criminal prosecution for his role in Liborgate and the drug money laundering of HSBC. With Obama and Geithner removed from office, Congess can immediately pass HR 1489, restoring the complete Glass Steagall separation of commercial banks from the gambling activities of investment banks and hedge funds. Those guilty of the Libor rigging, the drug and terror money laundering, and related crimes must be sent off to jail.
If you want to avoid war and want to see a real economic recovery, Obama must be out of office before the September 3, 2012 start of the Democratic Convention. There are plenty of viable candidates to replace him as the Democratic presidential nominee. As long as the choice is between Obama and Mitt Romney, the United States and the rest of the world are doomed to depression collapse and potential thermonuclear extinction.
Lyndon LaRouche called the shot on the global financial crash that began in July-August 2007. He has championed the return to Glass Steagall, a revival of an American System of sovereign credit and national banking, and has spelled out the North American Water and Power Alliance (NAWAPA XXI) great projects path to the creation of millions of new productive jobs and an era of scientific progress and restored prosperity for all.
Are you prepared to throw that all away for fear of removing President Obama from office while there is still time? Will you act this week?