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1 July 1983. Thought for the Week: "If one thing has been demonstrated in the world of scholarship above another, it is that men may be educated away from the Truth, as well as educated in the Truth. If a man be educated away from the truth, his departure from the truth will be in proportion to his education. His departure from the truth will be infinitely greater than that of the simple minded man".
Rev.P.Goard, quoted in The Servant Nation, by Major Gen. H.N. Sargent.
'THE TRIBUNE' AND MANY HAPPY RETURNS
(1923-1983, Sixty Years of Struggle for Socialism). The Communist Weekly, Tribune, has just "celebrated" sixty years of publication. In spite of the fact that we have recently been assured by some, "officially in the know", that the Communist Party is no longer subversive in Australia; we are incurably swayed by facts which have been demonstrated over a long period of time, and are not influenced by propaganda, disguised as "news". The fact is, that the "line" that the Communist Party in Australia is not subversive, is itself subversive! Some people have encapsulated this stratagem in the words: "The Devil Can Quote the Scriptures".
What interested us in the "birthday"
issue of Tribune were the plaudits and felicitations
from a variety of sources; principally unions. These are revealing
and tell much. Mr. Donald Horne is a well-known Australian.
An author, media critic, ex-Editor of The Bulletin
(Sydney), he now lectures in the Political Science Department
at the University of New South Wales. He has an article in
the "birthday" issue of Tribune, headed -"Tribune
has a definite future as an alternative".
Now on Page 14 is a very large notice
with the photograph of ten or so miners (underground, with
lantern-helmets, etc.), some giving the clenched fist salute.
We read - "Australian miners salute the 60th anniversary of
Tribune, the paper that has consistently championed
the struggle of workers in Australia". By the side of the
photograph of the ten or so miners is a slogan - "This is
just the beginning, the struggle continues".
"There is no doubt that it was in Keynes' name and on the basis of his theoretical work that the modern world has experienced the longest period of general inflation, and has now again to pay for it by a widespread and severe depression". Professor F.A.Hayek, writing on Keynes in The Australian June 25th.
Professor Hayek was joint winner of the Nobel Prize for Economics in 1974. We can well recall the period, over some decades, when Keynes was the Ultimate Guru of Economics. Hayek remarks that it isn't easy to explain why these ideas suddenly went out of fashion, leaving behind a bewildered community of economists. We well recall, ourselves, being admonished by local economists that we have no business writing on economics unless and until we had mastered Keynes' "General Theory". Then, a few years later we can well recall a Professor of Economics at the London School of Economics (Professor Walters) stating during an address at Monash University (Melbourne) that "modern economics were a failure", or words to that effect. Now, Keynes is "old hat". Paul Samuelson and Milton Friedman, and others, are the new "buzz" names.
Hayek states that the "old truth" is being rediscovered, i.e. that the acceleration of inflation cannot be indefinitely continued. Keynes himself, states Hayek, was thoroughly aware of the danger of growing monetary demand degenerating into progressive inflation: he feared this might happen. It did. Hayek says that Keynes was scientifically wrong "...I am claiming that perhaps the most impressive intellectual figure I have ever encountered ... was wholly wrong in the scientific work for which he is chiefly known..."
More information is coming out about this strangely gifted personality as a result of the current film now screening around the world. The current issue (June, 1983) of our monthly Intelligence Survey carries an article - "The Suppressed Truth About Gandhi'. Send $1.00 for a copy.
The Weekend Australian (June 25-26) carries a review of a new book, "The Viceroys of India" wherein there are some most revealing snippets about Gandhi, one of which is that Gandhi was introduced to the Hindu holy writings, the "Bhagavad Gita", by British Theosophists in London: he read it first in English! Lord Wavell, the second last Viceroy of India, said that Gandhi was 15% saint, 15% charlatan, and 70% extremely astute politician. One comment from the reviewer, Edward Kynaston, we know to be true: i.e. "Gandhi could not have existed without the British". We fully agree with the remarks that - "he (Gandhi) could not have got away with his campaigns of non-violence in any other colonial empire: one thinks of the Belgians and the Dutch and the French in North Africa, and certainly not within Hitler's Third Reich".
Inflation Ready to Blast Off in USA
Prime Minister Hawke has assured us that Australian Business should prepare itself for a sharp upturn early in 1984, following on from an earlier upswing in the economy in the U.S.A. At least Mr. Hawke is optimistic: no doubt his Government's political and economic strategy is now based on such a hoped for recovery. We fear that Messrs. Hawke and Keating will be waiting for longer than they anticipate, and that disappointment lies in wait for them.
The fact is that the "highly stimulative" policies over the last ten months will result in higher inflation, and higher interest rates. Maxwell Newton reports the expected: viz, the inflationary action of America's Central Bank ("the Fed.) was followed by renewed weakness in the dollar and a rise in the price of gold. The so-called hard heads in the financial world "fly into gold" whenever their currency weakens in the belief that it will, under the circumstances, more than hold its value. This often is the case, but we warn people about pinning hopes in permanent financial salvation from ownership of gold. In a general economic collapse it will be found that few speculators will have the money to buy gold. This is how financial fingers are burned!
The Canadian Intelligence Service
(June '83) carries a report from the Toronto Star (May
5th, '83) and highlights the fierceness with which the Money
Power will protect its monopoly: "State bank examiners have
brought the full force of the law crashing down upon a group
of children who started a bank at school to learn about high
finance. 'The law is the law', said Robert Ledbetter, a deputy
banking commissioner. His examiners closed the bank at Easton
Middle School for not having a charter, which would cost $200,000,
charging too much interest, collecting loans without a licence,
and using the word 'bank' in the title of a business without
Compared to what banks have been doing for many years, these children must be guilty of some heinous crime in financing hot dogs this way. We rather suspect that the bankers want a monopoly on this 'banking' business and are not too anxious that our younger people learn too much about it."
Creation of Money
Need for a State Bank
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