August 5, 2008 (LPAC)--The world has now reached the point of crisis which so many, even among my associates, have lacked the guts to see. The doom of the present world system, which was formally decreed for the future, from the guilty mouth of U.S. President Richard Nixon, on August 15, 1971, has now arrived. The exact day, or hour, on which a most notable kind of breaking development in U.S. policy might occur, now remains uncertain with respect to the short term, but, what is assured is that, if we do not see the emergency action which I have projected, the present world system is doomed in the short term, perhaps the very short term.

Now, the relevant financial and political officials are lying their heads off. The uncertainty is, that while they are all lying, none among them is exactly certain what the truth is.

Presently, it is fairly estimated that no less than 1400- 3000 U.S. banks (not counting European banks, for example) are already lying virtually dead in the morgue of dead banks. Only a few among these have been processed for public burial, the others are lying as mortal remains in the cooler. The number could be much larger, perhaps 5,000 or more banks.

The reasons it is difficult to estimate the exact number, are two. First, the relevant officials and relevant others would be lying their heads off, if they still had heads.. Second, there is a certain uncertainty about the definition of "dead;" the present system is certainly dead, and could not be resuscitated in its present form; how many of these cases could be resurrected under a new system, depends upon how soon, and in what framework the needed shift toward a replacement banking system might occur.

The Factor of Mass-Idiocy

With the dying-out of my own and the preceding generations, there is no longer any remaining competence on the subject of economy among the younger generations, neither the Baby-Boomer generation which has generated most of the worst incompetence reigning within the U.S. Congress and Wall Street today, nor the young-adult generation, has any competence in the matter of economics. They are fantasy-ridden, who share something of the rubbed-off lunacy of former Federal Reserve Chairman Alan Greenspan, in their wishing to believe that money is simply what their wishful dreaming might hope money might be, or become. With rare individual exceptions, the relevant reigning academics, marketeers, and politicians are as crazy as loons in these matters.

The pertinent fact is that money is essentially merely fictitious, not an expression of any sort of "real" value. The very belief in a "money system" is a definite mark of some form of a personal clinical insanity closely related to the most morbid types of sexual fantasies. The rising supremacy, in the matter of government and finance, of, most notably, the so- called "68ers" of North America, western and central Europe, and the former Soviet Union today, echoes the "68ers" hatred of "blue collar" industrial, agricultural, and scientific strata of society, a condition in which actual and simulated cocaine fantasies have taken the place of reality in their concerns. For these "Alice-in-Wonderland" types of depraved veterans of the "68er" mass-lunacy money is "Anything we hope to choose we can believe."

The first phase of the ongoing collapse, is financial- economic. The second phase is the collapse of the prevalent "Boomers" lunatic belief in "our chosen. globalized, way of life." However defiantly the lunatics wish to choose to believe, the system is now coming down, such that only the reforms I have stipulated could possibly prevent a global lunge into a "New Dark Age" much worse, and more long-lasting than that of Europe's Fourteenth Century.

The only "prediction" which makes sense now, is the prediction that you might suddenly, miraculously, give up your silly ways of believing. The party in which you thought you were participating, is over.

The present system is as good as dead. Sane people are those who accept that reality as fact.

www.larouchepac.com/node/11109/print