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18 October 1974. Thought for the Week: Since our civilization is a money civilization, it is obvious, in the first place, that this situation places us ultimately at the disposal of the banks, and that increased taxation, by lessening the amount of money at our disposal, increases this hold that the banks have upon us.
C. H. Douglas, in "Dictatorship by Taxation" (1936)
"Spending records of bankcard holders will be accessible to the Taxation Department." - The Herald ( Melbourne) October 14th.
It is fitting to mention, in order to give further emphasis to our "Thought for the Week", that inflation is a vicious form of taxation, and has the same effect upon us that direct taxation does; viz, send us scurrying to the money source; the banking system. There is no doubt that bankcards can be a great convenience; we all know that. We don't wish to dwell on the obvious; the columns of the Letters to the Editor in the daily press are full of the more obvious comments on this bankcard operation. It is nothing new. It has been established in some countries overseas for years. We have been asked to make a brief comment upon it and we shall.
The bankcard operation does and will add to inflation;
or to be more specific at this particular time, stagflation. Why stagflation?
Because the added high interest rate to be incurred by the purchase
under the bankcard operation will naturally make every purchase of goods
and services that much dearer (up to 20%) whilst at the same time doing
nothing to stimulate the industrial/commercial system.
There are two other comments we shall make on
this matter also. One is that we shall be surprised if, as has been
stated, the "Labor" Government, or any other Government, for that matter,
does legislate to prevent the universal implementation of the bankcard
operation. Our reason for saying this is that the forces of International
Finance, in our view, desire that as many people as possible are to
be brought under some form of control by becoming geared to the bankcard.
The heading of this item is a case in point.
OPEN LETTER TO THE HOUSEWIVESThe League has been experimenting with a brochure directed especially at the housewives on the Inflation issue, and the "Petersen Plan". Initial response to saturation distribution has been excellent. Please assist by obtaining a supply, and distributing in your area. Send donation with order.
THE BRITISH ELECTIONS
"What this election is all about, according to the Soviet party machine, is whether the class struggle is finally going to be fought to a finish, and a revolutionary democracy established." - Weekly Review (U. K.) October 10th.
This edition of the Weekly Review gives some considerable space to an analysis of the current British political scene by Georgiy Kuznetzov, a Soviet expert on British political affairs. We fear that he is, indeed, an expert because we find ourselves in pretty full agreement with his analysis in the Soviet political weekly, Za Rubezhom.
It has been obvious to us for many years that the era of political parties, as constituted in the West, is passing. They are fragmenting. We dealt in some detail with this process in the April (1974) issue of the League's monthly journal of political affairs, "Intelligence Survey". Accordingly, the era of stable political party government in the U. K. has passed, as it has passed in Australia. No longer can we be sure that an elected party government will govern for three years; in fact, it is now likely that it won't. We certainly do not now expect an elected party government to govern for the constitutional five years in Britain. The political instability of the government of the Continent has now come to the British world.
Georgiy Kuznetzov sees the (British) election
"ending in a Labour victory (right again) which must not be regarded
as anything other than a prelude to a class struggle on a scale not
seen before in Britain; and moreover, a class struggle that will be
waged, regardless of cost, until the final victory of the 'working class'
has been irrevocably achieved."
A probable victory for the Liberal-Country Party coalition around the middle of 1975 would usher in a period of intense industrial warfare. The pattern will be likely to be the same as in Britain. The so-called "conservatives" will be unable to cope with the situation (we are of the opinion that Dr. Cairns would welcome a brief Snedden Government; to allow it to be completely discredited!) and a Cairns Government, with the intention of implementing Dr. Cairns's Marxist "six-point Plan" would come to power.
As each Government sweeps in and out, like the pendulum of a clock, the political climate becomes more revolutionary, until that point is reached when the moment for violent revolution comes. The Communists will have their experts "testing the water" for the right temperature. However, the unrehearsed events shape history, and the "best laid plans of mice and men gang oft agley".
Mr. Wilson's majority is slender, and there is no telling what Mr. Enoch Powell will do with frustrated and bitter Conservatives, Scottish Nationalists, Welsh Nationalists, and the Members from Ulster. The whole political climate screams out for constructive leadership just as it will in Australia within the next 2-3 years.
WISHY-WASHY LIBERALS TURN TURTLE ON ANTHEM
"God Save the Queen should be used only for Regal and Vice-Regal occasions, and another anthem promoted for other times, the Liberal Party Federal Council said yesterday." - The Age (Melbourne) October 15th.
We believe that the decadent Liberals could have won the last election if they had had the political nous to take up the Heritage cause as an Election issue. Now they have slipped further into the bog of permissiveness. The Chipps, Gortons, Peacocks, have had their way again. Furthermore, the name of God has been deleted from the "new" Liberal Party policy platform.
On the brighter side, the Liberals are still for the alliance with the U.S.A., and say they are solidly for Federalism, and State Rights. But they are being edged to the Left, more and more, as the fires of inflation rage in the land, and the demands of the electorate for Government assistance, which is provided with strings (socialism) takes place because the individual is so heavily taxed, and battered by inflation, that he simply cannot provide adequately for himself and his family.
A Labor defeat next year will inevitably bring about divisions within the Labor Party; they are papering over the cracks now. Then the Liberal-Country Party Government will be rent with division and it could fall apart under the pressures of inflation and industrial warfare. Only a grassroots political Movement can salvage the situation and give direction to sound political principles. The League of Rights "moment" is coming; it will burst like a thunderclap on the Australian politicial scene in the few short years ahead and the reverberations will roll right around the English-speaking world.
Lord Robbins, one of the British orthodox economists
from way back, in a lecture in London last week, made some damning accusations
against the modern Welfare State in Britain. He said that the restrictive
practices prevalent in today's Britain were a great drag on efficiency.
He also blamed the Welfare State for much of the strike action which
has crippled Britain in recent years; the reason being that strikers
are able to go on welfare, and thus trade unions are not required to
bite into union funds for strike-pay. The system actually encourages
The present Portuguese Prime Minister (at the
time of writing) Colonel Vasco Goncalves, made an interesting, and not
unexpected (to us) comment on the clergy a few days ago. He said that
the "New" Government believes that there should be one sphere for religion,
and another for political, economic, and social activity. In other words,
the Church will be allowed to function so long as its teachings do not
interfere with the political and economic programme of the Government
of the Portuguese revolution.
The Liberal Party's Federal Council (14/10/74) condemned the "Labor" Government's new tax on unearned income. And rightly so. If the Government does not abandon this tax altogether it may well amend it drastically so as to apply to persons whose taxable income is in excess of $5,000 or a similar figure. We feel that this is likely. After all, the Government does not desire to alienate the tens of thousands of small investors with their few thousand dollars (life savings) invested in Building Societies, shares, loans etc., etc.
What is most interesting is a slip (?) or at least a revelation made in The Age (Melbourne) Editorial of October 2nd. Speaking of the "unearned income" surtax the Editorial continued: "It originated neither from the much-maligned Treasury, nor from the Asprey report on tax reform, but apparently from the febrile mind of the Prime Minister's principal private secretary. (Mr. Jim Spigelman)
It would be an understatement to say that Gough
Whitlam, a man whose concepts are distorted by Socialist political doctrine
and consummate egotism, is surrounded by some pretty fishy characters.
Neville Curtis, the student who was kicked out of South Africa, is now
gnawing at the Public Purse. We are paying for him! He is working for
the "education" (that's a good one...Ed) unit of the Australian Council
for Overseas aid funded by the Federal Government (us) and private grants.
His aim is to organise union and public boycotts of South African goods.
League supporters must realise that the Indian
Ocean region of the world is now being given all priority attention
by the International Communist global strategists. The French even the
realists, know this all to well, and are sending naval forces to this
region. The position is now that the Suez is virtually in the hands
of the Russians, through the latter's grip on the Arab World
The Western Australian Royal Commission into Aboriginal affairs, as reported in our issue of On Target (September 6th) did recommend the very "apartheid" which has evolved in South Africa. How the report even sneaked in "The Age" confounds us; we have seen nor heard nothing of it since. Added to all this, even the disinterested observer should be aware that the Chinese communists in East Africa are giving sophisticated arms to the African terrorists, and training them in their use. The final goal is South Africa. The capture of the Southern Hemisphere may well mean final success, or final failure for the Communist Conspiracy.
Labor's new Senator for Victoria, Senator J. Button, thinks that industrial trouble is a healthy sign. His comments made at a Dinner on September 30th in Melbourne have a very familiar ring to us. "Change"... "struggle" . . . "we should work toward the position of Yugoslavia where workers elect the management and run the company.
President Ford and the Soviet Foreign Minister (Andrei Gromyko) discussed U.S. trade "concessions" to Russia and a liberalised emigration system for Soviet Jews during September" Obviously, the latter is conditional on the former. Israel will receive 100,000 Jews from the Soviet Union a year according to the report from Tel Aviv (The Age, Melbourne Sept. 24th)
The Forms of MoneyWe are so used to thinking of money as the notes and coins which we handle every day that it is at first difficult to grasp the idea that this intangible thing credit, is also money. However, we are quite willing to accept the fact that notes and coins are both money, even though they look and feel quite different from one another, and if we lived on an island where cowrie shells were regarded as money we would soon learn to accept shells as money. So it should not be impossible for us also to accept anything that serves the purposes of money, as being genuine money. In fact, if one cares to think about it deeply enough, in is eventually realised that if the money supply comes into circulation as bank credit when overdrafts were granted to producers, then it is the bank credit which is our real money, and notes and coins are really a convenient substitute for that part of it which is used in the smaller day-to-day transactions.
One authority, R. G. Hawtrey (Sir Ralph Hawtrey, former under-Secretary of the British Treasury) has said as much; "Credit is often said to be a substitute for money. It would be just as accurate to say that money is a substitute for credit."
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