Helga Zepp-LaRouche to Estulin Conference:
I Am Appealing to You To End This System of Horror
by Helga Zepp-LaRouche
The following is a transcript of Helga Zepp-LaRouche's video-recorded remarks to Daniel Estulin's June 2 seminar in Barcelona, Spain, on "World Government and the Bilderberg Club."
Ladies and Gentlemen: I am very grateful that Daniel Estulin invited me to address you in this way, because we are right now confronted with an extraordinary danger which is threatening the very existence of our people and nations in Europe. The British Monarchy and its underlings in the form of the EU bureaucracy, have written a law, a so-called bail-in law, which is now supposed to replace the defunct bail-out policy of the last four-five years which, as you have experienced in the most brutal form, has already shortened the life of many people.
Now the first time you have seen what this bail-in policy means was in the form of the so-called "Cyprus template," which Dijsselbloem, the new head of the Euro Group, basically announced would be the model for all other countries in future economic crises. In the case of the Cyprus bail-in, the depositors of the Bank of Cyprus had to suffer a haircut of probably 60%. You in Spain have seen what it meant when the depositors and stockholders of Bankia were induced to buy so-called preferential stocks, where then when the bank went under, people had to take a write-down of up to 99%, and that is the model for all future cases.
Now this law has been written by the EU Commission, and in the text, which I strongly advise everyone to read very carefully, they admit that they were helped in the formulation by an institution called ISDA, which stands for something like International Swaps and Derivatives Association, and if you look that institution up, you find on the board of directors, representatives of the 20 or so top investment banks of the world.
Now that means the EU Commission has just become the carrying-out organ of the top banks and of the financial oligarchy. Now in the United States there is a similar law with the identical bail-in clause. It is called the Dodd-Frank law, and that law is presently being debated, and there is a campaign launched by LPAC, the LaRouche Political Action Committee, to confront every elected official that the implementation of this law is treason against the Constitution because it denies the average citizen their right to live. Because if this law would be enacted in case of a crisis, people would overnight have no means for self-subsistence.
Because if you look at the amount of debt of this usurious and treasonous financial system, it is mind-boggling. Now the outstanding state and bank debt of the EU countries alone is 14 trillion euro. The New York Times two days ago admitted that the outstanding derivatives, over the counter, are 700 trillion dollars, but the real figure, if you include shadow banking and things that are not accounted for, you probably end up with 1.5 quadrillion dollars.
Now if you want to bail in that, by stealing the deposits of the population, you have haircuts like we have seen in Cyprus or in the case of Bankia, well, that leads to an instant death of millions of people.
Now therefore this law is treason, it must be stopped by all means, and the statements of the U.N. Human Rights Commissioner, that the Troika policy in Greece is already a human rights violation, is absolutely applicable. What is also true is what the former Presidential candidate of the Socialist Party in Portugal, Manuel Alegre, said, that this policy of the EU is turning all of Europe into a concentration camp, and those people who have not yet been affected should not be complacent, because they will be the next in line.
Now this is a policy which also means that the EU has absolutely no raison d'Ítre. Not only is the euro a failed experiment; not only were all the promises that this Europe would guarantee peace have been a terrible lie, because what this policy has done is that it has pitted the nations of Europe against each other. Now people in Southern Europe hate Germans, in part because they mistake Mrs. Merkel with the German population and I can proudly tell you that not all Germans are agreeing with this woman. It has absolutely not reflected the soul of Europe. What have the EU bureaucrats to do with the beautiful classical tradition of Greece, of Spain, of Portugal, or Italy? They have nothing to do with the German classical period or any other value.
The Pope has recently made a very important intervention, by saying that this financial system is basically turning human beings into commodities which can be used and thrown away.† Now this has to end. I am appealing to you to join the resistance, to do everything possible to leave the euro, and to leave the EU, implement Glass-Steagall, end this system of horror, and basically implement a credit system instead, and then we have to go for the real economic development of Southern Europe.
Now it is absolutely urgent. Please if you find the words I said shocking, please verify it. Your life and our whole life depend on it.