BY: LYNDON LAROUCHE
And so, by having Glass-Steagall system, and having a banking system which works on the basis of public credit, which is an important feature of our Constitution, when the Constitution is observed, we are now at a point where we’re going to have to take the possibility of developing a banking system as a healthy one again, get rid of all this garbage, and we’re going to have to, at that point, start with an infrastructure program, in areas like water, power, and mass transportation—these will be the key drivers.
We’re going to have to invest, quickly, largely in these areas, we’re going to have get government credit to back to the regular banking system, that is, the mercantile banking system, as well as the Federal means themselves, we’re going to have to use that credit to get mass employment started in production of basic economic infrastructure. By using infrastructure as the leader, we then require ourselves to restore industries, productive industries, of manufacturing and agriculture, in areas where they have been destroyed. Because we can not build the infrastructure, without industrial production and agricultural production.
So therefore, we use the Federal credit and the combination of a Glass-Steagall system and a global fixed-exchange-rate system—Roosevelt’s conception—we use that as the driver to create credit to build infrastructure; we use the building of infrastructure as the incentive and prompting for development of industry and agriculture, and also, of course, local communities. So, that’s the way we are going to have to proceed.