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Executive Intelligence Review, Volume 34, Number 37, September Executive Intelligence Review EIRSeptember 21, 2007 Vol. 34 No. 37 www.larouchepub.com $10.00 Schiller Institute: Eurasian Land-Bridge Is a Reality Bailout of Bankrupt Funds Bars Mortgage Crisis Fix LaRouche Celebrates ‘This New Millennium of Ours!’ Financiers Are ‘Up to Their Eyeballs in Caymans’ Founder and Contributing Editor: Lyndon H. LaRouche, Jr. Editorial Board: Lyndon H. LaRouche, Jr., Muriel Mirak-Weissbach, Antony Papert, Gerald Rose, Dennis Small, Edward Spannaus, Nancy EI R Spannaus, Jeffrey Steinberg, William Wertz Editor: Nancy Spannaus Managing Editor: Susan Welsh Assistant Managing Editor: Bonnie James Science Editor: Marjorie Mazel Hecht From the Managing Editor Technology Editor: Marsha Freeman Book Editor: Katherine Notley Photo Editor: Stuart Lewis Circulation Manager: Stanley Ezrol Who’s the guy on our cover? Some among our readers who are in INTELLIGENCE DIRECTORS need of new eyeglasses, may mistake him for Alan Greenspan—and Counterintelligence: Jeffrey Steinberg, Michele they wouldn’t be too far wrong. But this cayman is actually the CEO of Steinberg Economics: Marcia Merry Baker, Paul Gallagher a hedge fund in Queen Elizabeth’s Caribbean financial center, the Cay- History: Anton Chaitkin Ibero-America: Dennis Small man Islands. See John Hoefle’s chronicle (p. 15) for the gory details. Law: Edward Spannaus Our Feature documents how the U.S. home mortgage crisis is spin- Russia and Eastern Europe: Rachel Douglas ning so far out of control, that it threatens to bring down the global fi- United States: Debra Freeman nancial system any day—and yet, the U.S. Congress refuses to act. INTERNATIONAL BUREAUS With the Executive branch hijacked by Anglo-Dutch Liberalism, there Bogotá: Javier Almario Berlin: Rainer Apel is no other branch of government that can initiate effective action at this Copenhagen: Poul Rasmussen time. The precedent of President Franklin D. Roosevelt shows what Houston: Harley Schlanger Lima: Sara Madueño can and must be done in such an emergency. The legislation being cir- Melbourne: Robert Barwick Mexico City: Rubén Cota Meza culated by the LaRouche Political Action Committee, “The Homeown- New Delhi: Ramtanu Maitra ers and Bank Protection Act of 2007” (see www.larouchepac.com), Paris: Christine Bierre United Nations, N.Y.C.: Leni Rubinstein spells out the immediate measures our government must adopt. But it is Washington, D.C.: William Jones Wiesbaden: Göran Haglund clear that nothing but a powerful constituency mobilization can press Congress into motion. We report some significant resolutions and state- ON THE WEB e-mail: [email protected] ments from Democrats around the country, but it is going to take a great www.larouchepub.com deal more than that, before October, to win this fight against the hedge www.larouchepub.com/eiw Webmaster: John Sigerson funds. Assistant Webmaster: George Hollis As we go to press, the Schiller Institute is meeting in Kiedrich, Ger- many for a conference on the Eurasian Land-Bridge—the great infra- EIR (ISSN 0273-6314) is published weekly (50 issues), by EIR News Service, Inc., 729 15th St. N.W., structure projects that will put the whole world to work productively. Washington, D.C. 20005. (703) 777-9451 See p. 4 for a first report, with much more to come next week. We have several articles that are pertinent to the deliberations of the conference: European Headquarters: E.I.R. GmbH, Postfach 2308, D-65013 Wiesbaden, Bahnstrasse 9-A, Richard Freeman and Dr. Hal Cooper’s analysis of the proposed Alas- D-65205, Wiesbaden, Federal Republic of Germany ka-Canada Railroad, how it would link up to a Bering Strait Tunnel, Tel: 49-611-73650 Homepage: http://www.eirna.com and the economic impact of such projects; Tom Gillesberg’s history of e-mail: [email protected] Director: Georg Neudekker the Dane Vitus Bering, who, in the early 18th Century, led the voyages of discovery that resulted in exploration of what we now call the Bering Montreal, Canada: 514-855-1699 Strait; and our Science & Technology feature, by Drs. James Powell and Denmark: EIR I/S, Sankt Knuds Vej 11, basement left, DK-1903 Frederiksberg, Denmark. Tel.: +45 35 Gordon Danby, on “Maglev: Transport Mode for the 21st Century.” 43 60 40, Fax: +45 35 43 87 57. e-mail: eirdk@ Don’t miss Gregory Murphy’s little bombshell on “carbon swaps,” hotmail.com. with its undeniable proof of the genocidal intent of Al Gore and his elite Mexico: EIR, Manual Ma. Contreras #100, crew of global warming fanatics. Despacho 8, Col. San Rafael, CP 06470, Mexico, DF. Tel.: 2453-2852, 2453-2853. Copyright: ©2007 EIR News Service. All rights reserved. Reproduction in whole or in part without permission strictly prohibited. Canada Post Publication Sales Agreement #40683579 Postmaster: Send all address changes to EIR, P.O. Box 17390, Washington, D.C. 20041-0390. EI R Contents www.larouchepub.com Volume 34, Number 37, September 21, 2007 Strategic Overview 4 Schiller Institute: Eurasian Land-Bridge Is a Reality Cover Some 350 people from 40 nations gathered in Kiedrich, Germany for a This Week two-day conference on the Eurasian Land-Bridge. Lyndon H. LaRouche, Jr. gave the keynote address. A first report—with more to come next A cayman surveys issue. the scene for his next meal. International 18 Fox News Spews Chicken 6 Bankrupt Funds’ Bailout Push Bars Mortgage Poop To Boost Cheney’s Crisis Solution Iran War Bailing out the hedge funds, commented Lyndon LaRouche, Cheney does have a plan to bomb “is the precise equivalent of spraying cold gasoline on a Iran, but it has nothing to do with burning building,” spreading the fire into an international the anti-Iran chicken-poop explosion of inflation and a dollar collapse. propaganda that Anglo-Australian yellow media baron Rupert 9 Resolutions Murdoch is spreading through his news empire. To National Black Caucus of State Legislators “Resolution to Congress—Implement the Homeowners and 20 Africa Fears AFRICOM Bank Protection Act of 2007,” filed by State Rep. Juanita Will Create Conflicts Walton (D) of Missouri. ‘The Right Approach’ By former Congressman Andrew Jacobs, Jr. (D-Ind.). Dems Invoke FDR Legacy Resolutions on the housing crisis were adopted by Democratic Party bodies in Los Angeles and Massachusetts earlier this year. 11 Foreclosure Rates for Top 100 Metro Areas 15 Dead Crocodiles Found Beached on the Queen’s Cayman Islands 17 Secretary Espy Stayed Farm Foreclosures EI R Contents www.larouchepub.com Volume 34, Number 37, September 21, 2007 National Economics Science & Technology 22 On a Fateful September 26 Bering Strait Tunnel, 44 Maglev: Transport Mode Weekend: This New Alaska-Canada Rail: for the 21st Century Millennium of Ours! Infrastructure Corridors Drs. James Powell and Gordon Lyndon H. LaRouche, Jr. writes on Will Transform Economy Danby tell how magnetic the occasion of his 85th birthday. If Infrastructure corridors built as part levitation can revolutionize we can muster the resolution to of the Bering Strait Tunnel project world transport, in this article make emergency agreements will generate a renaissance in reprinted from 21st Century among sovereign nations now, he manufacturing and infrastructure in Science & Technology, Summer writes, to deal effectively with the the United States and Canada, and 2003. This article was presented global financial-economic crisis, will link the Americas to Eurasia as part of the proceedings of the “we will probably have defined the and Africa. Schiller Institute’s Sept. 15-16, hopeful future for all mankind for at 2007 conference in Kiedrich, Germany. least a millennium to come.” 32 U.S. Mortgage Crisis: Demise of an ‘Importer of Last Resort’ Book Reviews 34 Global Warming Update: Carbon Offsets Are 24 Gosselin: Canadian Genocide Patriot, Revolutionary George Washington’s French- Canadian Spy, by Henri 36 LaRouche Movement Gosselin. Organizes for a Nuclear Renaissance in Colombia Editorial 38 Vitus Bering and the Rediscovery of America 56 Republic vs. Empire: The man after whom the Bering Strait was named, was an intrepid The Crucial Battle Danish explorer (1681-1741), who helped carry out Leibniz’s dream of investigating the border between Asia and North America, as a way to promote the development of both. EIR Strategic Overview Schiller Institute: Eurasian Land-Bridge Is a Reality by Rainer Apel and Jeffrey Steinberg “We shall be assembled here on Saturday, Sept. 15, 2007, included Hal Cooper, an American consulting engineer who amid the onrush of what already onrushing events are demon- has done groundbreaking work on high-speed rail plans for strating to be, this most momentous period of change in glob- the Americas and Eurasia; Italian economist Dr. Nino Gallo- ally extended modern civilization since the great 168 Peace ni; and American civil rights pioneer Amelia Boynton Robin- of Westphalia. The outcome of this presently accelerating son. world-wide crisis, is not yet decided; but, the alternatives can be, and must be made politically clear. The Global Financial Collapse in Context “In any case, it is certain that the kind of global monetary- In her introduction to Lyndon LaRouche’s keynote speech economic system which has evolved in the aftermath of the on the morning of Sept. 15, Helga Zepp-LaRouche, the found- crisis-events of 1968, will not survive the presently onrushing er and chairwoman of the Schiller Institute, reviewed the calamities. It should also be made clear, as the proceedings of world financial system’s collapse. As the July G-8 meeting this two-day conference will help to show us, that there are failed to establish any transparency, nobody knows how many great, hopeful options for change, some of which will be ad- trillions of dollars of multi-leveraged debt is out there, and as dressed during the course of this two-day conference. For my LaRouche has pointed out, the system is finished.
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