28 April 2000. Thought for the
Week: "And when the tempter came to Him, he said,
If thou be the Son of God, command that these stones be
made bread. But He answered; it is written Man shall not
live by bread alone, but by every word that proceedeth
out of the mouth of God." (Misuse of gifts and resources
We trust that our readers were strengthened in their faith during Holy Week.
ACRES OF NEWSPAPER COPY
by Jeremy Lee
With household savings at an all-time low, and household debt at an all-time high, literally millions are now at the mercy of interest-rate rises and share-market collapses. Both are likely. A falling exchange rate for the dollar is just as likely a reason for interest rate increases as inflation. If the dollar looks like falling further there will be a stampede of foreign money out of Australia, seeking another temporary shelter. It was this global flight of capital, which led Dr. Mahathir to impose 12-month restrictions on invested capital from overseas being removed in a hurry. Australia may yet regret not having followed Malaysia's example.
Perhaps it was best summed up by the opening sentence in an article by Alan Mitchell in The Australian Financial Review (Easter edition, 20-25/4/2000): "Last week was not the end of the share market bubble - but it had the smell of the beginning of the end..."
HANGING ON WALL STREET AND THE US
It has long been said that when Wall
Street sneezes the rest of the world catches cold. It is truer
today than ever. Following the Asian meltdown, which started
in August 1997, there has been a remarkable recovery in most
Asian economies, built out of exports. Florence Chong explained
in The Australian (26/4/2000):
The trouble is that, with these sort of imports, the United States is running a trade deficit which is scaring politicians and economists alike. Again, Chong explained: " Last year the current account deficit of $US339 billion was 3.7 percent of gross domestic product. The figures had more than doubled since 1997, US Treasury Secretary Larry Summers said last week. "Since 1992 the US has chalked up record trade deficits year after year, reaching $US350 billion last year. This exceeded the total import bill of Japan, and was $US100 billion more than 1998. In January, the US trade deficit of $US28 billion was again a record...."
It's not too difficult to see what a
recession in the US would mean to the nations, which are trying
to recover by exporting to the American market. Running a
trade deficit of just under $US1 billion a day is not something
even the mighty US economy can sustain. An article from London's
Economist (The Weekend Australian. 22-23/412000)
Terry McCrann, in the same issue, concluded his article: ".... Self evidently, we will follow where the US market goes. But we have some special factors to make life difficult in our real economy. Rising domestic inflation, the current account deficit and the GST."
By way of comfort, Australia's trade deficit, as a percentage of GNP is almost twice that of the US!
ZIMBABWE - AN INEVITABLE TRAGEDY
Funny how Robert Mugabe's 1980 fans,
including former PM Malcolm Fraser, are now either silent,
or are condemning him. Mugabe was always an Idi-Amin-type
thug: nothing has changed. Stephen Fowler, in The Australian's
MEDIA section (20/4/2000) said:
Again, it is the moderate African farm workers who suffer, along with the white farmers -just as they did during Kenya's Mau Mau emergency in the 'fifties. Reports of the re-emergence of the Mau-Mau in Kenya accompany those describing the tragic events in Zimbabwe. Africa is rapidly becoming a charnel house, much of it due to the soft, ignorant liberal molders of "world opinion".
INTERNATIONAL MONETARY FUND EXPOSED
The demonstrations against the recent Washington meeting of the IMF and the World Bank were not as dramatic as the Battle in Seattle. But they achieved a lot. The Australian Financial Review (Easter, 20-25/4/2000) reported: "Demonstrations may have failed in their goal to shut down the IMF and World Bank spring meetings in Washington, but they did force out into the open a debate about global poverty and economic development that had largely been conducted behind closed doors. Rich countries are now publicly acknowledging that 20 years of aid to the world's poorest nations has failed to make an impact on poverty "
A scathing half-page attack on the International Monetary Fund by former World Bank chief economist Joseph Stiglitz in (19/4/2000) added fuel to the fire, including these words: ".... They say the IMF is arrogant. They say the IMF doesn't really listen to the developing countries it is supposed to help. They say the IMF is secretive and insulated from democratic accountability. They say the IMF's economic 'remedies' often make things worse - turning slowdowns into recessions and recessions into depressions. And they have a point. I was chief economist at the World Bank from 1996 to last November, during the gravest global economic crisis in half a century. I saw how the IMF, with the US Treasury Department, responded. And I was appalled ...."
Many who have informed themselves how the world's power-elite really works are probably also appalled - but not surprised.
DEAFENING SILENCE - CONTINUING TRAGEDY OF RHODESIA
by Philip Butler
One of the first acts of the people who took over a (farmer's) property was to have a victory feast, for which they killed the most productive cow of the herd, Age letter to the editor (21/4/2000). Over 15 years ago, thousands of acres of productive land were taken over by Mugabe and his thugs -supposedly for the betterment of the majority of 'landless' natives. Today, these same properties are in ruins and owned by Mugabe's family and his political cronies.
In 1978 Ivor Benson in his penetrating
analysis ("Undeclared War: the struggle for Africa")
of the forces hell-bent on destroying western influence and
control in Africa wrote, "Western politicians also understand
perfectly well that the millions of dollars worth of ('aid'
sent to a country such as Zimbabwe) is also helping to sustain
a system of government which, left to itself, would quickly
collapse into ruins."
The real questions have to be asked of Malcolm Fraser, Gough Whitlam, former PM of Canada Pierre Elliott Trudeau, Henry Kissinger, and leaders of the Christian churches; what are they going to do about the tragic situation now that their 'mate' Mugabe is finishing off this once prosperous little country?
It didn't matter what compromises Ian
Smith and his fellow Rhodesians made - and there were many,
even installing the first black moderate. Bishop Abel Muzorewa,
as Prime Minister - Malcolm Fraser was determined to bring
Mugabe to power. Rather than honouring Fraser, the Liberal
Party members should be hanging their heads in shame at the
active part that Fraser played in the tragedy. But then, I'm
not sure these people know what shame is, and I suppose the
next thing we can expect from Fraser and his CARE organisation
is the rattling of tins asking Australians to help fund the
feeding of the helpless black Zimbabweans - those who have
suffered at the hands of his 'mate' Mugabe.
A positive step would be to write to John Howard suggesting that the present immigration policies restrict the percentage of Asians coming to this country and we make room for our racial kith and kin from Zimbabwe. But then, these people would have a message for Australia that the politicians do not want to hear. It is about the betrayal, by western leaders, of the western nation of Rhodesia.
Further reading: "Too Bright the Vision" by Father Arthur Lewis.
WATCH MY (PRIME MINISTERIAL) LIPS
by Antonia Feitz
Howard said, "And if you look back now at the beginning of the twenty-first century ... you can say that we have deregulated our financial system, and that was possible because BOTH SIDES OF POLITICS on that issue took a constructive view. I have never DENIED CREDIT TO THE FORMER GOVERNMENT for the work it did in that area. WE STARTED the process with the Campbell Committee. THEY CONTINUED it. But they were able to continue it, because WE HELPED THEM in Opposition, WE DIDN'T OBSTRUCT THEM in Opposition. And so it was with their attempts at privatisation. One of the great ironies of this privatisation debate is it was possible for the current leader of the Opposition as Finance Minister to achieve the privatisation of the Commonwealth Bank, because we in opposition took a constructive view - WE DIDNT OPPOSE IT."
In this paragraph, the word 'constructive' clearly means 'bi-partisan'. So whatever happened to the idea of Her Majesty's loyal opposition, which is paid precisely to challenge government policy in the parliament? It didn't happen. Our system of government failed us, and that's why Australia is in the mess it is today. Only we can regain our country by neutering the major parties. Substituting one for the other is useless. All it does is make people feel a bit better for "throwing the rascals out", as Professor Quigley said way back in 1966.
"Tragedy & Hope" by Prof. Carroll Quigley, $70.00 posted. From all League book services.
LETTERS COLUMNThe following was sent to the editor of The Age:
Sir, The enemies of David Irving and of the historical revisionists are naturally rejoicing at the verdict in the defamation trial brought in Britain at the verdict in the defamation trial brought in Britain's High Court against Deborah Lipstadt, but the result may not be as absolute as Jonathan Freedland's partisan comment (The Age, 13/4) suggests. A judge who states that he will not rule on "what actually happened during the Nazi regime" and then later claims that "no objective, fair-minded historian would... doubt that there were gas chambers at Auschwitz and that they were operated on a substantial scale to kill hundreds of thousands of Jews" (Freedland's quotations) would seem, very simply, to have contradicted himself, which at least raises a question about his reliability.
A few years ago a similar trial result went against Count Nikolai Tolstoy, who, like Irving, has been a gadfly to the current internationalist Establishment; but Count Tolstoy won an appeal in the European Court of human Rights. And once there was enormous rejoicing at the guilty verdict against John Demjanjuk in Israel in 1988, but, as Jewish Attorney Yoram Sheftel has shown in his Show Trial (1995), the court responsible was corrupt and a later trial released the innocent man.
In my view Judge Gray's reported statements do not have the ring of impartial assessment and appear to be lacking in both magnanimity and mercy. Perhaps Irving will turn out to have valid grounds on which to appeal. Nigel Jackson, Belgrave, Vic.
BY THEIR FRUITS YOU WILL KNOW THEM
by Betty Luks
The question was asked then and must be asked now 'Where are the bleeding-heart do-gooders in the West when these sorts of crimes are being committed? Where are their bleeding-heart clergymen who helped beat the terrorists' (liberation) drums, who applauded the assaults on the people (both black and white) and excused the hideous crimes and abominations as they babbled the 'one-man one-vote' chant? Now that brave little Rhodesia is but a thing of the past and (formerly white-ruled) South Africa collapsing before our very eyes, guess which country is going to attract the undivided attention of the 'globalists' in their push for world control? Of course the strategy and tactics are different (pursuit of policies by other means) but objectives are the same.
In this country they are not using terrorist groups to force the farmers and businessmen off their land and properties, it is being accomplished through commercial and financial pressures. (The GST is another nail in their coffins). Because of the part played by our so-called 'leaders' in their betrayal, we Australians owe the Zimbabweans and South Africans (black and white) an apology.
Frankly, I hope our readers do not have one good night's sleep until they have written to their weak-kneed, lily-livered politicians expressing their disgust and outrage at what is happening in these countries. Ask John Howard - who was treasurer in Fraser's government - what is he going to do about it?
Further reading: "Harvest of Fear: a diary of terrorist atrocities in Rhodesia" and "Murder & Witchcraft in Zimbabwe".
HOWARD TAKES THE CAKE
by Antonia Feitz
He, who has continued with the disastrous Hawke-Keating policies of exporting all the satisfying, skilled and well-paid jobs that Australian youth could once aspire to, actually had the gall to say that. He, who has left Australia's non-academic youth with nothing but low-paying, casual jobs in the service "industry", had the gall to say that. And just like Keating, Howard has caved in to the feminists.
Who remembers that in his 1970 maiden speech, the 25-year-old Keating said, "Family life is the very basis of our nationhood. In the last couple of years the Government has boasted about the increasing numbers of women in the workforce. Rather than something to be proud of I feel this is something of which we should be ashamed ... Is this Government doing anything about child endowment? Is it doing anything to put the working wife back in her home? It is not." (Quoted in Paul Sheehan, Among the Barbarians, 1998, p.109)
Surreal, isn't it? And now that other champion of the traditional family. John Winston Howard has similarly repudiated his own beliefs saying. "Men should carry an equal burden of the social responsibilities and family responsibilities that are carried by women." Seeing as Howard's own wife. Janet - to her credit - was a full-time mother to their three children, it's incredible he has the gall to spout such feminist rubbish. I wonder what Janet thinks about it. After all, her husband's new sentiments are extremely insulting to her life's choice to make her family her priority.
Between "Labor" Keating and "Liberal" Howard it seems Australia can no longer afford what was good enough for the Keating and Howard children, even though survey after survey shows that most parents still think mum is the best person to care for baby.
from ERA Newsletter May-June 2000:
What was the injunction from Christ? Ye cannot serve God and mammon? No wonder the organised church does not take a stand against the usurious system all the world is groaning under. It has its own shares in the system! Isn't it time the organised church understood the difference between joint venture banking practices and the Babylonian system based upon Usury?
Further reading: "War Cycles/Peace Cycles" by Richard Kelly Hoskings.
"On Target" is published by the Australian League of Rights, Box 1052. G.P.O. Melbourne 3001.