National Emergency Statement! LaRouche Speaks on Fed Rate

Aug. 5, 2008 (LPAC)--Following the Federal Reserve's non-action on interest rates today, Democratic statesman and economist Lyndon LaRouche responded urgently to that potentially suicidal failure for the United States.

"The Fed has failed to raise interest rates today--that is a clinically insane non-act," LaRouche said. "A general bank interest rate of 4% must be instantly established--but with two tiers of rates--whatever you have to do to establish it! If you're loyal to the United States, you'll get the Fed to do it."

The 4% general overnight rate, LaRouche has explained in a nationally circulated statement, is necessary "to keep funds inside the United States banking system," keep them from fleeing and finishing off the dollar in an uncontrolled collapse. Bank of England interest rates are far higher, and so are the British-manipulated rates of the European Central Bank. The dollar is set up for a collapse unless the Fed is made to act now.