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11 July 2008 Thought for the Week:

"East Beats West: Justin Marozzi on how Mahathir Mohammed rescued his country and made fools of the IMF".
- - The Spectator, 18 March 2000.

"Dr Mahathir has struck his own blow against the denizens of the Twin Towers without taking a single US life."

- - James Gibb Stuart, The Herald (Glasgow), 24 September 2001.

DEFENDING NATIONAL ECONOMIC SOVEREIGNTY

by James Gibb Stuart - Source: www.ProsperityUK.com
It was at a League national seminar a few years ago, Donald Martin National Director of the British League of Rights mentioned that James Gibb Stuart, author of "The Money Bomb"*, had been of assistance to the Malaysian Government at the time of the Asian financial crisis.
When other Asian nations went into financial meltdown, Malaysia warded off the worst of the crisis. What was James Gibb Stuart's advice? The following outlines James Gibb Stuart's advice.

Stuart was asked - provide advice please - three days later the government acted:
"In 1998 James Gibb Stuart was asked to provide advice to the Malaysian government, which was then struggling against an IMF induced economic crisis.

The following is taken from his Briefing Paper.
Three days after receiving this material the Malaysian government announced exchange controls.

"It has been suggested that I might make some comment on the current financial crisis which would be helpful to our Muslim friends in Malaysia and elsewhere.
Let us begin by noting that this is not a failure of Asia and its systems, but a reflection upon the creed of deregulated so-called "free market" finance capitalism which too many Asian nations have embraced.
Those who embraced it least are least affected. Those who accepted it without question are now faced with several years of reduced expectations, deprivation and ruin.
Why? Not necessarily because of their own faults and excesses, which could be many, but because the banking and financial model they so enthusiastically adopted is itself basically flawed, and possessed of a fatal instability.
It was not as altruists or benefactors that Western bankers ventured into Eastern markets, but as fugitives from a milieu which had reached the limit of its tolerance.
The deregulated "free market" finance capitalist system which prevails among the developed nations is based upon an ever increasing burden of debt, and when the societies within which it is practised approach their saturation point, it must find new outlets for its ever-increasing outflows.
The Western institutional lender has a much greater compulsion to lend than his prospective client has to borrow.
But now the lending has to stop. Eastern nations should be looking inward towards their own indigenous strengths and resources, rather than importing capital from abroad. Once this fact is appreciated, some acts of self-preservation must follow.

FIVE ACTS OF ECONOMIC SELF-PRESERVATION

1. First comes a measure of foreign exchange control, to prevent the nation's reserves, its financial lifeblood, from being sucked out by speculators.

2. Secondly, the progressive liberalisation of financial markets should be reversed, as this advance towards a global economy can rob developing peoples of the benefits of their own national resources.

3. For the same reason, and thirdly, there should be no inclination to privatise national assets as a device for paying off government debt. Such assets belong to the people, and should not be put up for auction, where market forces can consign them to foreign ownership. British experience of privatisation proves that selling assets to reduce national debt is only a temporary expedient. They can only be sold off once, and when they are gone, the cycle of debt and borrowing continues.

4. In the matter of existing loans that have gone sour, it is impossible to generalise. Each situation must be dealt with on its merits, and acrimony and trade reprisals avoided. But, fourthly, there should be every endeavour to avoid further borrowing, particularly in US dollars. The recent round of currency devaluations has shown this to be a treacherous device whereby international entrepreneurs can buy up the local economy at bargain prices.
At this stage a clear appreciation is needed of what constitutes money, wealth and resources. Even without the lure of foreign financial inflows, we must ask, to what extent is the nation impoverished? The sun still shines. The crops still ripen. The eager workman's hands and skills and energies are in no way diminished -- provided he can have faith in his Government to protect his earnings and ensure an adequate reward for himself and his family.
Even in conditions of economic crisis, the primary priority is not to pay the bankers or reassure the stock markets, but rather to see that the people are properly fed and housed. A child dying of malnutrition in the midst of plenty is a crime against humanity and a blight on the bounty of Mother Nature.
That is why IMF 'bail-outs' which hinge upon further foreign borrowing, liberalisation of markets and cutbacks in social expenditure, should be rejected in utter abhorrence. Fortunately, support for this viewpoint is finally coming through from Western sources, where the more independent-minded economists are now contending that the IMF and its harsh methodology should be drastically revised or abolished.

5. We spoke about debt-inflicted Eastern nations turning back upon themselves, looking inward at their own basic strengths and resources. In this regard, and fifthly, money incentives to stimulate commerce, agriculture, industry and social programmes, need not be in the form of expensive US dollars. All recognised, legitimate governments can on occasions create their own debt-free money and use it for essential national objectives. Despite banking protestations, this expenditure is not inflationary, since it does not increase the volume of debt -- and it is debt, not the supply of money, which causes inflationary pressures.

These five acts:
Stopping the haemorrhage of national reserves by means of exchange controls; reversing the liberalisation of financial markets; rejecting the privatisation of public assets; avoiding foreign loans or further borrowing; and steadfastly maintaining social programmes, with government created debt-free money if necessary -- all in the face of IMF outrage -- will cause the charismatic leader to be smeared and ridiculed abroad.

So, lastly, he must look to his personal and governmental security, avoiding risk of physical or political assassination; losing no opportunity to tell the public what he's doing and why he's doing it; laying it continually on the line that the current financial crisis is not his crisis, or their crisis, but a crisis of Western economics which will ultimately devour the whole of civilisation if it is not resisted and amended."

* James Gibb Stuart's book "The Money Bomb" is available from all Heritage Book Services and Veritas Publishing..


THE COMING GLOBAL STOCK AND 'CREDIT' CRASH

by James Reed
"The UK Telegraph (19/6/08) reports that the Royal Bank of Scotland has advised clients to prepare for a "full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks." According to the bank's credit strategist Bob Janjuah, "a very nasty period is soon to be upon us - be prepared." All "the chickens come home to roost," from "the excesses of the global boom, with contagion spreading across Europe and emerging markets." Inflation in Asia and the failure of investment banks across the world are also telling signs.

We, the remnant, need to be like the Amish people and have on hand sufficient food to last through the trials ahead. Don't be afraid to google "survivalism", "food storage" and so on to beef up on your self-reliance skills. Nobody is coming to save us, except ourselves. When it is over, the time will be ripe to rebuild the world along national self-sufficiency lines."

Editor's comment:
The "contagion' is spreading across Europe '" Don't you just love the assumption behind the word-picture of the looming financial chaos we are to expect? Just as we can't alter the movements of the sun, or the moon or the stars, we are to believe neither can politicians or bankers alter the financial system in order to serve the people. Yes, they would have us believe the present financial system is as much a part of creation as are the sun, the moon, the stars, etc.

I try to get my mind around the concept presented of infected electronic 'blips'. Numbers or figures, mere electronic 'blips' within computers, 'blips' which daily slosh around the financial world, have been infected with a deadly virus. Well that is what the fellow said!

According to my dictionary a virus is:
An ultramicroscopic infectious agent that replicates itself only within cells of living hosts; many are pathogenic.
If words still have meaning, I am to believe the 'global boom' must be a living 'host body' infected with an organic, living, virus that is highly contagious. Why, it must be another version of the Middle Ages plague known to us as the Black Death. A deadly virus is fouling the world money system and because of the contagious infection - which could prove fatal therefore it must be a pathogenic virus - the world money system is collapsing all round us. What else am I to understand by the statement: The "contagion' is spreading across Europe '"

And then there is 'shadow banking'
This word-picture presented to mere mortals such as myself is so hazy and unreal. The truth is, International Corporations and Hedge Funds have been busily creating their own 'credit' (read money) out of nothing; i.e., doing their own 'creative accounting' and gambling on the futures market, currency markets, etc., and tut tut, they have been doing this quite apart from the 'official' Banking System.
The media refers to what has happened - not as fraudulent, how can these prestigious Hedge Funds and International Corporations be acting fraudulently - as 'shadow banking'!

Don't you just love the terms the spin doctors daily use along with their 'smoke and mirrors' black-magic tricks designed to set up financial idols in our minds?


THE LAST DAYS OF ASIA

by Brian Simpson
Articles and books are appearing with the frequency of millipedes celebrating the "last days of the West." We are told that after 200 years, the White race is in decline and Asians are resuming their naturally superior role. Once the "200 year" figure was "500 years" but racial arrogance is cutting the time span of European dominance down.

As a matter of historical fact, Asia has never dominated Europe - certainly not China or India. The closest Asia came was Genghis Khan. Historically, although it is not politically correct history today, Aryans over 3,000 years ago conquered India and established the caste system, the rule by the lighter race. Aryan mummies discovered in China indicate the impact that the ancient Aryans had on China.

The ancient Aryan conquests are likely to be greater than that of Genghis Khan who conquered most of Asia and Eastern Europe, but not Northern Europe. His successor Ogedei Khan conquered the remaining outposts of resistance in China, bringing all of China under Mongol control. The Han Chinese still do not like to think about this. To have the 'centre of the world' conquered by nomads is hard to take. Still the Mongols did not conquer the Nordics.

As for the future, there is no doubt that the West is facing implosion as the result of poisoning by its traitorous elites. Yet the fall of the West also means the fall of Asia as globalisation ties the fate of one nation and region to all. The Asianists forget this in their quest to be 'No.1.' But there are no more 'No.1s'.

Unless our leaders 'bite the bullet' and genuinely act for the benefit of the people, the common good, this time the wolf is really at the door and the party is over.


WHERE OUR TAX DOLLARS GO

by James Reed
Ever wondered about how "visible migrants" - such as those with dark skins - are settling into our country towns ? Well, wonder no more. A $350,000 Australian Research Council grant to sociologist Brian Galligan and team from our University of Melbourne will study this. (The Australian 11/6/08 p.19) "It's a Linkage grant in collaboration with Victoria's multicultural commission and municipal association, whose member councils have a clear and direct interest in the outcome," writes journalist Bernard Lane.

As the article says:
"The idea is to find what works and what doesn't: 'the challenges and the blockages.'" But, I ask: wouldn't it have been cheaper to employ a plumber? After all, the country settlement programme occurred because of police concerns about African criminal gangs forming in the cities. Does the government really want to hear that there are now problems fitting these people into rural areas? Then what?


NEW PROPERTY TRANSACTION WILL 'SAVE HOMEBUYERS' - OR WILL IT?

New property transaction system 'will save homebuyers' was the headline in the ABC News online article 2/7/08:

"The federal and state governments have agreed to a new system to settle property transactions, which they say will save homebuyers hundreds of dollars. Under the changes, all conveyancing transactions will be settled electronically.

The scheme will be given final approval when the Prime Minister meets state and territory leaders at tomorrow's Council of Australian Governments (COAG) meeting in Sydney. Federal Finance Minister Lindsay Tanner says it is another step towards creating a seamless national economy. (Read 'strengthening the banking system's control of a cashless society 'ed)

"This replaces the end of the conveyancing process, the final stage of buying or selling a house where you have to get lawyers and bankers together, exchanging documents and cheques," the Federal Finance Minister Lindsay Tanner said. "Then a lawyer has to go down to the titles office and hand over money. All of that stuff costs a lot of money and it's barely changed since the time of Charles Dickens."

But one reader LM wants to know do the homebuyers receive a hard copy of their title deeds to the newly acquired property? This query regarding title deeds reminded me of the consequences brought about by the Enclosure Act in English history.
Even though many a family had tilled the same land for generations, because they did not possess a hard copy of the title deeds to the land, they were forced off the property and had to go begging. Good question LM.


OPPOSING A BILL OF RIGHTS

by Ian Wilson LL.B.
: Few in the legal profession entertain a healthy scepticism about the profession. There are alternative medical traditions questioning 'received' medicine, but the legal system stands monolithic and unchallenged. Examining the social engineering adventures that lawyers have championed in Australia (and the US), we should as a matter of principle reject any proposal which gives more power to judges to rule our Society. They have too much power now.

The experience of Bills of Rights overseas have all increased the power of unelected judges as such Bills, drafted by lawyers, give a field day for lawyers to interpret. Vaguely defined rights, multiply and become as thick as blackberries. Legislation which judges - to a man and woman drenched in Left-wing ideology - do not like, gets thrashed. That is the experience of New Zealand. Seemingly innocent words take on a life of their own, under the politically correct manipulation of the lawyers.

No Bill of Rights - because we don't want lawyers taking away our liberties or defining our rights.
No Bill of Rights - because we cannot trust our elites and intellectuals.
No Bill of Rights - because our common law system - when practised correctly, already has a common law bill of rights, protecting rights such as the right to a fair trial.

A Bill of Rights is an open cheque book given to lawyers. Would you trust them with your cheque book?


THE FAILURE OF NATIVE TITLE

by Ian Wilson LL.B.
Native Title is yet another politically correct legal adventure which is now starting to implode. The National Native Title Tribunal President, Graeme Neate, has argued in a speech made at the Perth Native Title Conference that Aborigines should not have to prove that they have a connection to the land in native title claims. (The Australian 4/6/08 p.5)

This is an incredible claim as the very point of native title from the Mabo decision was that Aborigines should have property rights (i.e. 'title') because of this connection. What is advanced here is giving land away because of race only. And what is that called?

Aboriginal elder of the year Jim Hagan has given us more wisdom saying that native title laws have given "nothing in return" to indigenous families. The fault lies in the bodies representing Aboriginal people, not the mining companies. (The Australian 24-25/5/08 p.6) He said "native title has not been the catalyst of change we were told it would be."

Indeed, the entire native title set up, a politically correct legacy of Paul Keating, needs to be dismantled. It has not served the interests of the Aboriginal people, and has only flattered the narcissism of the inner city elites. The only people who have benefited from it have been white lawyers.


SINGLE DESK WHEAT MARKETING AND THE NATIONALS

The Nationals passed a motion at their Annual General Conference in Sydney which included the following:

"This conference condemns the Rudd Government and The Liberal Party for undermining the viability of Australia's most significant agricultural export earning industry by caving in to the demands of larger wheat cartels, and expresses its continuing support for the majority of wheat growers who want to maintain a single desk marketing authority, and commits to being the only voice in the national Parliament that will continue the political fight on their behalf."

The Nationals have already voted against the Bill in the House of Reps and have vowed to 'maintain the rage' in the Senate. And where were the Liberals when the vote was taken?


IS THE FUTURE IN CURRY ?

by James Reed
Mira Kamdar in "Planet India" (Scribners, 2007) puts the case that in the future, India will be no.1 or at least no.2 in the global economic pop charts. Either way India and China mean that the future is Asian and that the White world has ended.
Kamdar points out that unlike China, India is a democracy - a multi-ethnic, multi-racial, multi-religious democracy. It is also the world's youngest country with 50 per cent of its people under the age of 25.

When the populations of the White West are old, India will be young. There will be no labour shortages. So, will our children be working for an Indian company? No, for there will be an Indian to fill every job.
The information technology revolution - mindlessly welcomed as a good thing by most of us because of minor benefits such as the internet - will mean that almost all jobs will be outsourced to India. The Indian call centre may be the image of the future.

Then there is China.
It seems inevitable that there will never be room for two superpowers to happily co-exist. Ultimately the two giants will square off against each other in a shooting match. It will be some match.

Both India and China, with their 9-10 per cent economic growth rates are likely to bring on the environmental and resource crisis that environmentalists think is happening now. They haven't seen anything yet.


GET READY FOR THE CUBANS !

by Brian Simpson
Kerry O'Brien's 7.30 Report segment on the torture carried out by the Americans at Guantanamo Bay stirred my memory. Was it under Bill Clinton that an immigration deal was done with Cuba that resulted in Cuba emptying its goals of hardened criminals and sending them to the US?

My fatigued mind thought of that when I read that asylum seekers on Nauru would be resettled in the US, whilst Cuban 'refugees' held at Guantanamo Bay would be 'transplanted' here in Australia. (The Australian 18/4/07). It's known as a refugee exchange programme, not to be confused with a needle exchange programme.

This all shows how arbitrary and irrational the asylum seeker programme is. What will we be getting - or what did we get? And what will our masters be doing next - to liven up a boring day?


JAMES REED ABOUT TO BECOME A FOREIGN STUDENT !

by James Reed
The perks are too good! I have decided to immigrate to a developing country, get an 'AUSAID' scholarship and return to Australia and live like a king! Oh, yes, I am only joking, but how is this for a joke on us?

In 2007 the Australian Government's overseas aid programme offered 19,000 scholarships and awards to students from developing counties. An Australian leadership award can be valued up to $250,000 for a doctorate programme along with full tuition fees paid, living expenses allowance (up to $2,500 a month!) and other perks too lengthy to list.

Untold millions are spent this way each year. And the students are then eligible to migrate to Australia, so this isn't an aid programme at all. It is a very expensive way of getting Asian migrants, whilst the rest of the community suffers. Go to 'AUSAID' and weep.

After weeping complain to your MP. Once you have worked through the website and have got your facts right, speak to your local talk-back radio 'shock jock' Enough is enough!

© Published by the Australian League of Rights, P.O. Box 27 Happy Valley, SA 5159