JEROME KERRIEL AND THE FUTURES MARKET

by Betty Luks
Incredibly, one young Frenchman has lost his employer-bank 3-4 billion Euros. How can this be? Well, if you were allowed to play roulette with your employer's computer-figures and there was no limit to the number of noughts behind the main blip figures, maybe you would get carried away too.

I thought I should try to grasp how this futures market works, so I looked up the edition of "The Global Trap: Globalization and the Assault on Prosperity and Democracy" published in the 1990s by Pluto Press.
Here is a sketchy explanation:
Futures trading started out as a form of insurance for e.g., exporters who wanted to protect themselves against fluctuations in the value of their trading partner's currency. But with the coming of computers and their virtually unlimited capacity, the derivatives trade 'made itself' completely autonomous.

This meant the big financial centres had now their own exchange just for the futures trade. This heralded a dramatic change in the nature of financial transactions, of which only 2 to 3 per cent now directly serve to protect trade and industry. All other contracts on the futures exchange "are bets organised among themselves by those who conjure with the market," writes Martin and Schumann in "The Global Trap."

For example German government bond prices are not now negotiated by dealers in fixed-rate securities at German banks. Long before that, jobbers (middlemen or wholesalers…ed) have negotiated prices at London's 'Liffe' futures exchange, where two-thirds of deals in 'bond futures' are now transacted.

We are told: The big banks have done splendid business out of this latter risk which was first generated by the derivatives trade itself. It is completely out of the control of any government and huge sums slosh around the world daily. Numerous corporations have long been their own bankers.
Corporations such as Siemens earn more from its financial transactions than from its world-famous products. Hundreds of big companies look after their 'credits' by themselves issuing world loans.
And so it goes on in this vein, with our politicians attempting to give the impression they are still in control!

LETTER TO THE PRESS ON THE ISSUE:
To The Editor, The Chronicle, Toowoomba. 29, January 2008.
Subject: JEROME KERRIEL and the Billions of Euros he lost his bank on the Futures Market Roulette Wheel.
Dear Sir,
Like the wind, electricity, music and God, all money besides currency in the form of notes and coin, is totally invisible.
Jerome Kerriel understands this, if nobody else does. He has been operating his own Bank within a Proprietary Bank, distributing credit to his friends and colleagues' accounts instead of the usual debt distributed by his employer. A millionaire every minute is being made in China by the same process, but for different reasons!
Jerome has obviously overlooked powerful colleagues or opponents, who have not shared in the largesse, or others who fear their own similar activities might reach the media front pages. Distributing money for wars knows no boundaries, the winners being those who end up with no financial debt, just as Jerome's friends can now appreciate.
The good news about all of this, is that nobody has lost anything, or been deprived of anything, but a lot of people have gained something for nothing. This is what must be stopped!
While Jerome probably will not be facing a civil court, for obvious reasons, he may have to face a far worse "Court", similar to that faced by Jesus Christ when he whipped the same type of money-lenders 2,000 years ago!
A flogging, a crown of thorns and a very heavy cross to carry and hang from, will be far worse than any sentence a civil Court can bring. Otherwise we will hear no more of this continuing practice.

Yours Truly, John Brett, Highfields, Qld.. 4352. 46987505

HAS BRITANNIA LOST OUT?

by Betty Luks
The headlines in the United Kingdom's Telegraph 28/1/2008 read: "After three centuries, Britannia loses her place on British coins." The headline itself is misleading or the reporter doesn't know too much of Britain's ancient history.

The article disclosed: "The image of Britannia, which has graced British coins for centuries, is to be removed from the 50 pence piece as part of a redesign by the Royal Mint." Only three centuries? Rubbish!
The image of the Barati's tutelary, the ancient goddess of plenty, Britannia, who watched over and safeguarded the people on land and on the seas, has graced British coins for more than a mere three centuries! But note, I emphasise the word British.

Britannia on Early Roman Coins of Britain:
Inscribed on a coin of Hadrian (117-137 A.D.) is the name 'Brita' (the name of one branch or tribe of the ancient 'British') and an image of their goddess of plenty, Britannia, who is posed seated upon a rock.
The second coin depicted in Waddell's fascinating book, is an ancient Lycian coin from Antonine (138-161 A.D.). Britannia is seated on a chair (of a ship) amidst the waves. The waves are personified by a semi-submerged water-nymph as was the conventional method of representing rivers and the sea by the Lycians, in the Roman art of the period, to which the second coin belongs.**

The ancient Lycians dwelt on the coast of southwest Asia Minor and their language was a branch of the Anatolian languages. According to my dictionary search this language-group is an extinct branch of the Indo-European family of languages known from inscriptions and important in the reconstruction of what is known as 'Proto-Indo European'; that is, the ancestor of all Indo-European languages.

For me, J.R. R. Tolkien summed up the British peoples' loss, and imprinted the fact on my mind, when his great parable in film form begins with the words:
"History became legend, legend became myth, and those things that should not have been forgotten, were lost."
It seems to be every other race and nation and ethnic group is encouraged to search for their roots, retain their identity, and continue to develop their own culture - but not the British Peoples!

**The illustrations and background details appear in "The Phoenician Origin of Britons, Scots and Anglo-Saxons," by L.A. Waddell, 1922.

SO MALCOLM IS INTENT ON APOLOGISING IS HE?

by Betty Luks
Liberal MP Malcolm Turnbull is so sure that the present generation of Australians should accept responsibility and apologise for the "forcible removal of several generations of aboriginal children (from their parents and communities) from the turn of the 18th and the 19th Century, through to the early 1970s". The Australian online, 29/1/08:

Right! Right!
If the man is in such an apologising frame of mind, and as one who has only recently resigned from that class of banker-financiers once known in derogative terms as 'coin clippers', I demand he apologise to ALL AUSTRALIANS! But let me explain why.
As a recent merchant banker, a member of the present evil financial system, and now a member of the present Commonwealth Parliament, which legislation under-girds the 'coin clippers' debt-money system, he can act as representative for both groups and apologise to the following:
§ Those families broken up because of financial stress
§ To those families who have lost fathers, sons and/or husbands through suicide. Men, who could see no hope of financially surviving because of 1970s prices but carrying 21st century costs and overheads. There is such a thing as a just price Malcolm. How can a people seeking justice for all consider a just wage but never a just price?
§ And to all those families who lost their homes, businesses and farms, primarily through no fault of their own but because of the present corrupt financial system!!!

Come on Malcolm. Apologise!
But no, an apology is not enough. If you are truly genuine, then you must strive for financial policies that will reflect and release and distribute the real wealth of this great land to all the people. By doing so, you will have helped establish just and honest economic and financial systems for all Australians.
But don't expect me to honour you for it Malcolm, and I do hope neither will you expect to receive an 'Australia Day' award.

To my understanding, you will have done only that which it is your duty to do! You will have helped to express through a just financial system God's Grace in the realm of a nation's housekeeping, or as you would say, economics. You will have accepted your responsibility as a member of the Commonwealth Parliament charged with the responsibility for a just distribution of God's abundance to all Australians, including the Aboriginal people.
As Jesus said: Sufficient the day the evil thereof. Look at the evil around you today Malcolm - and help to set that at right - and you will have done that which it is your duty to do.

We believe: A Statement of Liberal Party Beliefs.
Taken from Ninth Reprint October 1964. Policy No 12: "We believe that national financial and economic power and policy are not to be designed to control men's lives, but to create a climate in which men may be enabled to work out their own salvation in their own way."

ALLOW ME TO INTRODUCE THE PRESIDENT OF THE EUROPEAN UNION

Source: From David Flint's Opinion Column:
William Hague's speech in the House of Commons on 21 January 2008 on the EU (Amendment) Bill to ratify the Treaty of Lisbon, without a referendum, was very amusing, and perceptive. Mr. Hague understands how the politicians, having concocted a camouflage for the EU Constitution to avoid allowing the people to vote, will themselves choose the President of Europe behind closed doors. And then the incumbent will turn what was intended to be a ceremonial post into one which wages awesome power.

The Speech of 2008:
Mr Hague, a wonderful biographer writer as he demonstrates in "William Pitt The Younger," (Alfred A. Knopf, New York, 2005), has delivered what some are already calling "the speech of 2008." He referred to reports of a drive led by President Sarkozy to make Tony Blair President of Europe.

"To see how the post of a permanent President of the European Council could evolve is not difficult even for the humblest student of politics, and it is, of course, rumoured that one Tony Blair may be interested in the job. If that prospect makes us uncomfortable on the Conservative benches, just imagine how it will be viewed in Downing Street!

I know Blair's mind as well as they do:
"I must warn Ministers that having tangled with Tony Blair across the Dispatch Box on hundreds of occasions, I know his mind almost as well as they do. I can tell them that when he goes off to a major political conference of a centre-right party and refers to himself as a socialist, he is on manoeuvres, and is busily building coalitions as only he can.

"We can all picture the scene at a European Council sometime next year. Picture the face of our poor Prime Minister as the name "Blair" is nominated by one President and Prime Minister after another: the look of utter gloom on his face at the nauseating, glutinous praise oozing from every Head of Government, the rapid revelation of a majority view, agreed behind closed doors when he, as usual, was excluded.

"Never would he more regret no longer being in possession of a veto: the famous dropped jaw almost hitting the table, as he realises there is no option but to join in. And then the awful moment when the motorcade of the President of Europe sweeps into Downing Street.

"The gritted teeth and bitten nails: the Prime Minister emerges from his door with a smile of intolerable anguish; the choking sensation as the words, "Mr President", are forced from his mouth. And then, once in the Cabinet room, the melodrama of, 'When will you hand over to me?' all over again."

MULTICULTURALISM AND ITS POISONOUS 'FRUIT'

by Betty Luks
It is 7 or more years since Victoria's then premier Steve Bracks was intent on introducing legislation outlawing 'racism', anti-semitism, etc., and further promoting the policy of 'multiculturalism'. Discussion papers from the general public and interested groups were invited and the League of Rights made a submission.

For those readers interested, a copy of the League's Submission will be posted on its website at a later date. Look for it under the Race, Culture and Nation section - Racial and Religious Tolerance Legislation.

At the time, the League insisted the Australian people have the right to openly discuss such matters without being criminalised for doing so and, in fact, saw the proposed legislation as a violation of their long established rights to freedom of speech and association.
So you can imagine our interest in Janet Albrechsten's report from Canada on the Canadian Multiculturalism Thought Police - better known as the Canadian Human Rights Commission - and the troubles 'free' Canadians are now experiencing as a direct result of similar legislation in place in that country. (The Australian January 16, 2008)

Albrechtson quoted Alan Borovoy, general counsel to the Canadian Civil Liberties Association who back in the 60s and 70s was instrumental in helping to set up the legislation he is now opposed to. In the Calgary Herald, he said:
'During the years when my colleagues and I were labouring to create such commissions, we never imagined that they might ultimately be used against freedom of speech". Pointing to the empire-building frolic of the commissions, Borovoy advised that the legislation needed to be changed to make it clear that these commissions had no business investigating and making edicts about thought crimes.'

David Icke's Open Letter:
David Icke (many of our readers will have heard or know of him) has recently written an open letter to the Canadians. It is headed: Hey 'Free' Canada: Get Off Your Bloody Knees: "This is not just a story about Canada - it is the blueprint for the end of free expression that is unfolding across the planet under the guise of Orwellian terms like 'Political Correctness' and 'Hate Speech'.

I first came across Richard Warman, a 'lawyer' working for the Canadian government, when he campaigned with the above organisations to have my public talks in Canada and elsewhere banned because I was a 'racist'. This is invariably the insult hurled at anyone who gets close to the truth. Even people demanding the truth about 9/11 or those questioning the official version of global warming have been dubbed as akin to 'Holocaust Deniers' and if you question any aspect of the official version of the Nazi concentration camps you can now be jailed by the Thought Police.

Ernst Zundel, an elderly pacifist, was illegally abducted from his home in the United States, thrown in a Canadian jail and eventually extradited to Germany to be jailed again for the maximum five years by a kangaroo court masquerading (barely) as the arbiter of 'justice'. What was Zundel's 'crime'? Differing from the official history of what happened in the Nazi camps. He was, in other words, jailed for this thoughts, his views.
Even his lawyer, Sylvia Stolz, has now been jailed for three-and-a-half years, and banned from practising law for five years, for having the same thoughts and views as her client.

All this in 'free' Germany.
What happens in fascist states is that the verdict and the sentence are agreed before the trial or the evidence. That is what happened with Zundel and that is what happens in the 'justice' and 'human rights' system in Canada, as we shall see. What we need to understand before all freedom is extinguished is that you don't have to agree with what someone says to defend their right to say it. Indeed, you are defending your right to say and think what you choose because unless everyone has free speech and free thought then no-one does. You can't be free to think and say what you believe if someone is deciding what you can think and say.
That is not freedom of speech or thought - it is the freedom to agree with what the Big Brother state allows you to think and say.

As Voltaire is claimed to have said: 'I disapprove of what you say, but I will defend to the death your right to say it.' Why? Because your freedom is my freedom. So what is happening in Canada and elsewhere is an attack on the freedom of everyone and what is happening is truly, truly, staggering in what is claimed - hilariously - to be a 'free society'."

Ouch David! These barbs must have stung 'freedom loving' people wherever they be! We hope so. Now get off your ***** knees and fight once more for your fundamental freedoms of thought, speech and association.
Write to your political representative expressing your outrage at what is happening here in Australia and to all who have already paid a price of persecution and prison for you to retain your freedoms.

Further reading: "Here We Go Again," by Douglas Collins - Canadian journalist who was hounded by the thought police in that country and wrote of his experiences to warn his fellow Canadians. $26.00 posted.

GREENHOUSE CUTS WOULD LAND US IN THE MIDDLE AGES

Source: Sydney Morning Herald, 26/1/08:
Greenhouse cuts would land us in the Middle Ages, says Labor sceptic "The Hawke government finance minister Peter Walsh has warned the Rudd Government that cutting greenhouse gas emissions by 60 per cent by 2050 would send Australian living standards back to the Middle Ages. Mr Walsh, who was at the forefront of Labor's conversion to economic rationalism in the 1980s, heads the Lavoisier Group of hardline climate-change sceptics.

In a submission lodged with the Garnaut climate change review, the former West Australian senator disputes the scientific evidence that carbon dioxide emissions are causing rising global temperatures. He points out that the Romans grew grapes in northern England in the first millennium and the Vikings grew cereals in Greenland in the second millennium. "Those much warmer periods cannot reasonably be attributed to anthropogenic greenhouse gases," he says. He also says the temperature on Mars has risen in a similar way to that on Earth. Mr Walsh says that changes in solar behaviour are a better scientific explanation for temperature changes and that many scientists believe a cooling period will set in within the next decade or so.

The review by Professor Ross Garnaut is examining the economic costs for Australia of tackling climate change. Mr Walsh tells Professor Garnaut that a mooted 60 per cent cut in emissions by 2050 would have significant adverse consequences: 'The latter figure is unachievable without substituting nuclear power in place of coal and crude oil or, alternatively, a reversion to the living standards and population densities of the Middle Ages.' He describes emissions trading as the 'cargo cult of the 21st century'."

IS THE GLOBE COOLING? IT IS ALL SO CONFUSING

January 2, 2008:
You wouldn't know it from the dramatic, tearful pronouncements of doom that emanated from the UN's recently concluded climate summit in Bali. And you would get no idea from the Bush administration's much celebrated about-face acceptance of global warming at that summit. Nor would Al Gore be likely to let on. But the really, really inconvenient truth is that, for six years now, there has been no global warming.

According to former long-time BBC science correspondent and editor David Whitehouse, global warming, in contradiction to the current theories predicting ever-increasing temperatures, has stopped. "The fact is that the global temperature of 2007 is statistically the same as 2006 as well as every year since 2001,"
Whitehouse noted in an article in New Statesman. "Global warming has, temporarily or permanently, ceased. Temperatures across the world are not increasing as they should according to the fundamental theory behind global warming - the greenhouse effect." In Whitehouse's estimation, "something else is happening...." Maybe it's global cooling.

According to the Washington Times, 2007 was noteworthy for the number of "record low temperatures ... being set all over the world." In Buenos Aires, the Times recounts, "snow fell for the first time since the year 1918. In Peru, 200 people died from the cold" and "the Peruvian government declared a state of emergency" amid a rash of cold-related crop failures and respiratory ailments.

Similar problems afflicted the northern hemisphere with cold snaps in the Spring destroying 95 percent of South Carolina's peach crop and 90 percent of North Carolina's apple harvest. According to the Times, the cold trend is continuing:
"On Dec. 4, in Seoul, Korea, the temperature was a record minus 5 degrees Celsius. Nov. 24, in Meacham, Ore., the minimum temperature was 12 degrees Fahrenheit colder than the previous record low set in 1952. The Canadian government warns that this winter is likely to be the coldest in 15 years."

Despite this, David Deming, the author of the Times article and a geophysicist with the National Centre for Policy Analysis, says true believers in global warming will not be swayed by any amount of evidence that runs counter to their preferred theories.
"Nothing creates cognitive dissonance in the mind of a true believer," he writes. "In 2005, a Canadian Greenpeace representative explained 'global warming can mean colder, it can mean drier, it can mean wetter.'

In other words, all weather variations are evidence for global warming." "I can't make this stuff up," Deming sarcastically concludes.