A note to readers: this is an old post on the archive website for Promethean PAC. It was written when we were known as LaRouche PAC, before changing our name to Promethean PAC in April 2024. You can find the latest daily news and updates on www.PrometheanAction.com. Additionally, Promethean PAC has a new website at www.PrometheanPAC.com.

The time is come to put the Federal Reserve Bank into a long-overdue bankruptcy and to reestablish the National Bank of the United States, based on the principles established by Alexander Hamilton, revived by Abraham Lincoln, and rediscovered by Lyndon LaRouche. 

The monetary policies of the Federal Reserve, its Wall Street owners, and its fellow central bankers, have metastasized to the point that the real physical economy, and the people it supports, will not survive unless the central banking system itself is ended and our national economic sovereignty is restored. 

The Federal Reserve has, once again, printed vast amounts of money to prop up and bail-out the financial assets of Wall Street’s banks and funds, and their global partners-in-crime. And they will keep getting away with it, until the American people stop believing that money is economics.

Our greatest economic and political leaders, like Alexander Hamilton, Abraham Lincoln, Franklin Roosevelt, and John Kennedy understood that economics is about man’s ability to discover and create, so as to improve the physical economy and the nation’s productivity. The loss of that understanding has ceded the field to the Empire of Money and has left our ever-shrinking productive economy further battered by credit-starvation, lockdowns, environmentalism, and wokeness.

Because of this, we are now experiencing one of the greatest transfers of wealth, from working people and the productive economy to the billionaires and parasites, in modern history. The elites, who are on the receiving end of this and who are the controllers of the Washington “uniparty,” are now scheming to use the Federal Reserve to attempt to control their multi-quadrillion-dollar bubble. They have escalated beyond their “usual” methods of bailouts and bail-ins and are now using inflation to further loot the American people and the real economy. It will not work, and it must be stopped.

Join our campaign to put the Federal Reserve into bankruptcy and replace it with a Third National Bank of the United States, the constitutional purpose of which will be to channel increasing amounts of credit into productive industry and frontier areas of scientific and technological development. Government policy itself must a shift away from the de-industrializing “green new deal,” and toward the promotion of advanced research in space exploration, fusion power, biotechnology, and frontier research and development.

Our goal will be to fully implement this in what will, hopefully, be a second Trump administration. But this will not be possible unless a Congress loyal to this program is elected in 2022—a Congress which will act to nullify the Biden Collective’s attack on the American population, and which will introduce the types of transformative economic programs that will grow the real physical economy and the productivity of our workforce.

The Economic Revolution at Hand

The last time the United States had a fully sovereign national banking and credit system was in the latter half of the 19th century, thanks to the genius of our martyred President Abraham Lincoln. That ended with the establishment of the Federal Reserve in 1913. For the past 108 years, the monetarist policies of central banking dominated more and more of our nation’s economy. Contrary American credit policies, such as Franklin Roosevelt’s Tennessee Valley Authority, the Glass-Steagall Act and John Kennedy’s Apollo program have been almost entirely eliminated by post-industrial, green madness. 

This was dramatically accelerated by the August 15, 1971, elimination of the Bretton Woods system, allowed the dollar to float and ended sovereign control over our currency. Since then, the Federal Reserve has carried out increasingly disastrous policies, ranging from austerity to criminally high interest rates to the free-trade elimination of well-paying manufacturing jobs. With each asset bubble and subsequent financial collapse, the Fed bailed out the financiers, reduced the population’s living standards, and crushed the real economy. The “Great Reset” signals the world’s central banks efforts to eliminate any remaining semblance of national economic sovereignty.

President Trump’s Presidency threatened the rule of these world’s central bankers, pledging to defend the principle of national sovereignty for all nations, and to make America a manufacturing super-power, once again. Trump’s support for Glass-Steagall and promise a return to the American System was blocked by the political assaults on his Presidency and opposed by Democrats and Republicans alike.

Despite these attacks and the curtailment of Trump’s Presidency, a powerful movement of citizens has emerged over the past year, a political revolution of the type brought about by Abraham Lincoln when he created Republican Party. Donald Trump’s understanding of that is seen in his assertion that the “old GOP” is dead, and that the new Republican Party must become the party of working people.

Lincoln understood that his political revolution was the foundation upon which he could carry out his economic revolution of reestablishing the American system of national banking.

The 2021-2022 political revolution must be prepared to carry out this long-overdue economic revolution, one fought for by Lyndon LaRouche throughout his life. Join our campaign to the end the Federal Reserve System and create the Third National Bank of the United States.

Find a PDF of this statement here.