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30 May 2008 Thought for the Week:
in the modern world is confronting serious problems which have no simple, universal
solutions. But many of the problems have a common root. Science, technology and
the economy have been treated by modern societies as ends in themselves, rather
than as important tools to enhance well-being.
- - Sir James Goldsmith in "The Trap" 1993
WAR CYCLES/ PEACE CYCLES OR BOOM AND BUST
Australian Farmer and the AWB:
How? The Federal
Government plans to accredit multiple wheat exporters, thus replacing the system
under which the statutory Australian Wheat Board (AWB) had an export monopoly
and served Australian wheat growers very well for over 60 years.
First Advance payment:
Government withdrew Rural Credit guarantee:
And now, there is already growing disquiet among the knowledgeable grain operators who are expected to manage this new 'open' wheat market. At best it is loaded with volatility in prices and uncertainties in supplies. They are privately saying this year's marketing will be chaotic, with billions of dollars worth of wheat to be exported.
do they think so?
Corporate people are, as yet, reluctant to tell the wheat growers this news. But bankers JP Morgan have warned that liberalising wheat export arrangements in Australia will certainly affect the working capital needed to market the Australian crop.
Alice's crocodiles welcomed little fishes
in with gently smiling jaws:
Farmers themselves must
While we are considering the precarious situation farmers will find themselves in once more, let's revisit the strong words on the subject by Arthur Calwell in "Be Just and Fear Not": Our older readers may still remember the Great Depression years of the 1930s, with the huge numbers of unemployed men with no means of gaining an income. So many Australians during that period faced extreme circumstances and excruciating hardships.
recorded that the Deputy PM and Treasurer Theodore, having probably "the coolest,
best and most experienced financial brain in the southern hemisphere" had spoken
of Sir Robert Gibson's (then Chairman of the Commonwealth Bank), proposal of a
Fiduciary Note Issue to relieve the distress of both the farmers and the unemployed.
Typical of the Marxist ideologues in the Labor Party, the senators rejected assisting the farmers because they were, in the senators' eyes, "capitalists and exploiters."
It's Time - to recall the Great Betrayal:
can we hope for at best?
Is there is still a chance?
The following terms outline the
shady methods of the world's grain traders:
OUR ECONOMY IS ON 'ARTIFICIAL LIFE-SUPPORT'
C. Cook USA
"Only the most naïve, self-centred, and deluded jingoist could describe such a scenario in terms of the freedom-loving Western democracies being besieged by the "bad guys." Rather what is happening highlights the growing failures of Western globalist finance whose impact on political stability has been so corrosive. As many responsible commentators are warning, we are likely to see major financial shocks within the next few months. The warnings are even coming from high-flying institutional players like the Bank of International Settlements and the International Monetary Fund.
The root cause of the catastrophe:
can be done?
The banking system which rules the economy through the Federal Reserve System has produced the crushing debt pyramid of today. he system is a travesty. Banks, which can be useful in facilitating commerce, should never have this much power. Many intelligent people have called for the Federal Reserve to be abolished, including former chairmen of the House banking committee Wright Patman and Henry Gonzales and current Republican presidential candidate Ron Paul.
Some might call such a program a revolution. I prefer to call it a restoration - of national sovereignty. Central to the program would be the elimination of the Federal Reserve as a bank of issue and restoration of money-creation to the people's representatives in Congress. This is what our Constitution says too. It's the system we had before 1913.
The monetary prescription:
The idea of Income," as opposed to lobs," is a civilized and humane idea. When are we going to realize that everyone doesn't need a paying job in order for an industrial economy to provide all with a decent living? When are we going to realize that the productivity of the modern economy is part of the heritage of all of us, part of the social commons?
Why can't mothers have the choice of staying home with the kids like they could a generation ago? Why can't some people choose to do elder-care? Why can't others comfortably go into lower-paying occupations like teaching or the arts? Why can't some just opt to study or travel for a while or learn new skills or start a business without facing financial ruin as they often must today? Why can't retirees enjoy their retirement instead of having to stay in the job market or worrying about Social Security going broke?
The U.S. and world economies
are on the brink of collapse due to the lunacy of the financial system, not because
we can't produce enough.
Fundamental monetary reform implemented to restore economic democracy is what America's real task should be for the twenty-first century. One thing is for certain. The out-of-control financial system that has wrecked the U.S. and world economies over the last generation cannot be allowed to continue.
* The following is for those
who find the world of finance and its terms a mystery:
SHARIA LAW PROMOTED FOR THE WEST'S FINANCIAL WOES
by Betty Luks
We suggest the answer to 'rogue economics' has been known for at least the last eighty years. The problem is not that there is no answer from within the Christian West, the problem is the lack of will and want of understanding on the part of westerners. They have yet to band together and insist on legislative change through their political representatives.
crisis direct consequence of rogue economics:
Pleased as I am to learn that economist Loretta Napoleani is studying and analysing the core of the sub-prime crisis and what brought it to a head, I turn now to Social Credit authority Mr. Vic Bridger for an edited version of his clearer explanation of the core problem.
The sub-prime crisis
in the USA:
banks have reached the position of lending nearly 100 to 1, i.e. lending $100
for $1 in their possession, they reach a point where growth is restricted as well
as leaving themselves open to substantial losses. Having reached this stage, banks
resort to borrowing themselves from other banks and then can continue to lend
on the same basis as before.
of the sub-prime:
As if this was not enough,
some of these sub-prime market forms created new 'structured finance products'
referred to as collateralised debt obligations (CDOs). They are in actual fact
'slices' of the other mortgage securities, issued as bonds.
of money into the tottering system:
In keeping with the usual question that is put to Social Creditors we can ask: "Where is the money coming from?" The answer is quite simple: "They create it out of nothing like the commercial banks do." The whole exercise in the debt lending game is for the banks to offload their risks out of the banking system. It has been estimated by the US Congress's Joint Economic Committee that although there have been 1.7 million foreclosures in the first eight months of 2007 it is expected that probably 2 million families will lose their homes over the next two years. That statement is sufficient to indicate that the problem is going to get worse.
It is interesting to note the resort to the
idea of a "Change of Heart" creeping into the debate on the problem. C.H. Douglas
in his book Social Credit wrote:
to Sharia Law:
the good lady is right about one thing that is certain - if I have understood
her correctly. She said: "The sub-prime crisis, it is created by an instrument
which is based upon lending money that creates money."
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