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18 February 2000. Thought for the Week: "...just as the banks create money out of nothing, so they bought the War Debt for nothing, and our income tax, sur-tax, and death duties are what we pay them for having created and appropriated for their own use the National Debt.
It does not require much assistance to see that just so long as the population will stand it...we shall go on paying an increased amount of taxes, the major portion of which will go to increase the power of banking institutions and their grip upon the population..."
"Dictatorship by Taxation" by C.H. Douglas, Belfast. 1936
DID HE KNOW SOMETHING?
by Jeremy Lee
At the time he joined the Clinton administration his Goldman Sachs holdings alone were reported at about $US100 million. His reported income from his brokerage partnership alone was reported at $US26.5 million in 1992. In July last year he stepped aside from the US Treasury Secretaryship, handing the reins to Lawrence Summers.
As well as involvement with Goldman Sachs, Rubin is currently chairman of the executive committee of Citigroup Inc. the world's largest financial services company. (Banker Malcolm Turnbull is the Australian partner and operative for Goldman Sachs & Co.) In a major speech to the London School of Economics reported by The Australian Financial Review (4/2/2000), Rubin warned of the serious danger of global crisis. He attacked the idea that computer technology lessened the danger.
The article added: "...Mr. Rubin ....
said he had been struck since returning to New York about
the pervading 'assumption that all will always be well' in
financial markets. Instead, he said, investors would do well
to consider increasing risks.
Rubin's remarks could well have been pointed straight at Australia. Our perennial trade deficit has given us a foreign debt touching a quarter-of-a-trillion dollars: household savings are at an all time low, and the social breakdown worsening all the time. Any tightening of the financial scene - and it's already started - is going to produce enough social misery to threaten the stability of government. Those with their hands on the tiller of international finance know what's coming. Is that why Rubin stepped aside last July?
CHINESE SPELL IT OUT FOR AUSTRALIA
In what must be the most humiliating
rebuff for the soft Federal Government of Australia the Chinese
have bluntly spelled out the true position on illegal immigration.
The Australian (4/2/00) reported: "A senior Chinese
official has blamed Australia's lax immigration laws for encouraging
the exodus of illegal immigrants from China. "Guo Xiqin, one
of China's top border officials, said Canada and Australia
'offer settlement rights to some immigrants' which lured more
into taking the risk to try to enter the country unlawfully.
Home truths are never comfortable. Mr. Guo Xiqin has done Australia a service by pointing out to politicians what many ordinary Australians know to be true.
THE POOR OLD BANKSAustralians will be thrilled to hear the latest news that the "gang-of four" (Westpac. ANZ. NAB and the Commonwealth) are now making between them over $19 million in profits every day. That's a dollar-a-day for each Australian four dollars-a-day for each average family of four or $1,460 for the average mum dad and two kids each year. It obviously isn't enough so it will be with moist eyes and a tug at the heartstrings that Australians will thankfully accept the half-per-cent interest rise - imposed you understand for our own benefit and the good of the nation!
ADDING TO THE WASTAGE
by Alfred King
Money is the controlling force in our lives. In true Big Brother fashion, the Establishment insists that all companies with a turnover of $50,000 or more must be registered and tagged with an Australian Business Number (ABN). This is in addition to the Australian Company Number (ACN). The existing style of invoice is no longer acceptable; we now must deal in 'tax invoices' as only these allow us to be able to reclaim the input tax on our purchases. The letter of the law must be followed in that the tax invoice must quote the ABN and the amount of GST.
The letter of the law killeth. Under
the new system larger companies should review whether they
want to continue to trade with smaller firms who are not registered
and will not be able to provide a tax invoice. The new system
favours larger companies with more administration staff and
better systems as these will be able to cope with the new
system. There will be much higher administration costs for
companies to keep track of input tax on every purchase invoice,
and output tax on every sales invoice, and then account for
Interestingly, the name of the regime reveals how the Establishment really regards us: it is called "A New Tax System" or ANTS. The elite, of course, represents the Queen insect, and we exist only to serve it. Firms become the unpaid tax collectors on behalf of the government (on behalf of the debt merchants) with the Gestapo GST inspectors hovering in the background to strike at any time that a firm is not able to keep up with the exacting requirements.
To give you an idea of what is to come: the most feared people in Britain are the VAT (GST) inspectors. The purpose of production is consumption. The GST is to increase the cost of living by 10%. Utilities will incur the increase: but it has yet to be announced whether we will be taxed on the air that we breathe. The GST increases the burden on everyone that signs an invoice, signs a contract raises an order, or pays an invoice. But trust them it will be good for us - they know because the IMF told them so.
The present industrial system is incredibly wasteful. Probably around half our work is taken up with administration and bookkeeping and about the same percentage of energy we use is also wasted. The GST adds to the burden and it adds to the waste. Alan Gourley has correctly pointed out that if you want to swap items with another person, there is no reason why you should pay the onlooker for the privilege. If you choose to use money, there is still no reason why you should pay an outsider. If we are told we are to be taxed on every transaction that we make (GST) we are annoyed but this is what has been happening for years, and not as a government tax, but for the benefit of a private group of people.
The cost of providing money for convenience use is so small it can be a function of government with no significant cost to government.
ARE WE WASTING OUR TIME?
by Tom Fielder
Back in the '30s, educationists accepted the 'humanist philosophy' with the result that about three generations of youth have been indoctrinated with a defective education. Results of which are plain to see in every walk of life. Fortunately not everyone has fallen victim to the so-called 'progressive' education. Those who have survived have discovered a vast body of scholarship ignored by 'conventional' education, smeared by the mass media and boycotted by the public library system.
Over the last hundred years or so, a vast library of information of vital importance has been accumulated. Information of particular interest to readers of OT as it deals with the history of what has become known as 'The Conspiracy'. Many books trace the evolution of our 'money system' and point out the deficiencies of how it operates today. (Sadly, some authors get it wrong.) A few authors explain how the financial system could be corrected to produce a much better result.
And, lastly, a very few are capable of pointing us in the right direction with a political strategy to achieve 'that better result'. Many on the conservative side of politics read a few books but fail to gain a balanced 'overview' of history. Then with great difficulty, struggle through a 'money' book or two, often by authors with an incomplete understanding of the subject. That there are known corrections totally escape them and so they become involved in political activities that have no potential to protect Australia from the major social. financial and political calamity that is inevitable in the New World Order Globalisation programme.
C.H. Douglas wrote an essay about 50 years ago titled, "The Tragedy of Human Effort". This essay could still apply today because so many actionists with the best intentions but with inadequate knowledge and understanding, are merely 'wasting their time' on useless and inappropriate political activities. The ALOR and the Social Credit Movement seeks to address this problem.
THE MAN WHO CONTROLS THE WORLD'S PURSE STRINGS
by Alfred King
The Adelaide Advertiser 22/1 tells us "Dr. Greenspan is undoubtedly the superstar on the international finance scene. On Wall Street he is seen as the High Priest of money when the Washington Oracle' speaks of exaggerated share prices or 'irrational exuberance', within seconds he triggers panic selling on the world's stock markets."
The Age, 10/1, reports: "the chairman of the United States Federal Reserve is having more impact on everything financial in your life right now, including your job, than anyone else in the world. In these dawning days of the 21st century, when trillions of dollars leap around the globe with a mouseclick. Greenspan is not just the most important central banker in the world; he is in effect the world's central banker. For all their talk, Canberra and the Reserve Bank have little choice but to respond to the market forces that drive interest rates, currencies or bond and share prices. A lot of those market forces, in turn, are influenced by the world's most powerful central bank many consider Greenspan the second most important person in the US next to the President. Others think the man appointed by President Reagan, kept by President Bush and then kept longer by President Clinton, is more important than any president."
In January Bill Clinton commented that he never offered the chairman advice on the economy or the nation's money. It is not only Clinton who humbles himself before the great Chairman Mao, er I mean Greenspan - The Age reports that politicians across the political spectrum also do. They know who really holds the power. It is certainly not the puppet-like US President. Bill Clinton who is expected to take a job with the New York Investment firm of Lazard Freres for an annual salary of $16M at the end of his term of office. It would go a long way to settling the legal fees he accumulated during the Monica Lewinsky sex scandal.
His old friend Vernon Jordan is senior managing director at Lazard Freres. They play golf together every week, and he offered to find a New York job for Lewinsky simply to get her out of Washington. Now he has found a job for the President. Two years ago Mr. Clinton ignored a recommendation of Secretary of State Madeleine Albright and instead appointed Felix Rohatyn - a top supporter of Democratic Party causes and personal contributor to Mr. Clinton's election campaign -to the prestigious position of Ambassador to France. Mr. Rohatyn is also a director of Lazard Freres.
History appears to be repeating itself at the 'Fed'. When asked why he is staying another term in the $US141,300 a year post at the Federal Reserve when he could earn a great deal more in another private-sector position. Mr. Greenspan replied "there is a certain, really quite unimaginable, intellectual interest that one gets from working in the context of where you have to put broad, theoretical and fairly complex conceptual issues to a test in the marketplace."
What I would like to know is whether anyone could possibly be taken in by such an answer. One can't help but be struck by the similarity with Paul Warburg who emigrated to the US from Germany shortly before the turn of the previous century. His employers at this time already had control of the European nations, and they wanted the same control over the US. Warburg was paid $US500,000 pa to lobby for the establishment of a US central bank. The main argument in favour of the establishment of such a bank was that it would eliminate all future recessions, and instead there would be only small, perpetual growth. In 1913 he gave up this fabulous salary to take his place as the first appointee to the Federal Reserve board on a salary of $US12,000 because, it was claimed, he was 'public spirited'. In fact, international bankers dominated the Fed's first board and have continued to do so ever since.
From its creation in 1913, the Federal Reserve allowed the US government to go massively into debt by buying bonds from international bankers. Then to pay for this debt, there was introduced a progressive income tax system - an important plank of the Communist Manifesto. When income tax alone cannot service the debt, the IMF insists that a GST be imposed on the population.
One of the greatest opponents to the establishment of the Fed was Charles Lindbergh Snr., father of the famous aviator. He said at the time of its creation "from now on, boom and bust, recession and depression, are going to be scientifically created." This is proven when the Federal Reserve monetary policies are charted against the Dow Jones Industrial Complex Index. People who know in advance the Fed's monetary policies can make a fortune.
In August the good doctor warned of the dangers of overvalued assets, and the markets lost 10% of their value. Yet in an apparent change of heart, he shortly afterwards argued that a 'virtuous economic cycle' is at work in the US economy, and the market 'boomed'... Feeling confused? The financial press tells us that the most logical explanation for the apparent contradictions is the difficulty of the task before him. Of course, his mates make money every time they know in advance when to buy low and sell high.
No depressions happen by accident, they are made to happen by the policies of the 'Fed'.
NOTHING HAS CHANGEDRoy Howe, Letter to the editor, West Australian. 4/2
"In case some people think that bloody-minded banks are a new phenomenon, read this extract from the Banker's Manifest, for private circulation among leading bankers only, in 1934. 'Capital must protect itself in every way, through combination and through legislation. Debts must be collected and loans and mortgages foreclosed as soon as possible. When, through a process of law, the common people lose their homes, they will be more tractable and more easily governed by the strong arm of the law, applied by the central power of wealth, under control of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged informing an imperialism of capital to govern the world. By dividing the people we can get them to expend their energies in fighting novel questions of no importance to us except as teachers of the common herd. Thus, by discreet action, we can secure for ourselves what has been generally planned and successfully accomplished.'"
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