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17 October 2008 Thought for the Week:
“The decline of Western Christian Civilisation last century, was the slow individual process of becoming what we opposed, through the process of seduction with words and money. While our enemies make words mean what they want them to mean it would be prudent for us to avoid the same calamities that follow this habit.
- - John Brett, Queensland October, 2008
MELTDOWN - DESIGN BEHIND THE TUMULT
by Jeremy Lee
Melodramas on Broadway are usually more popular than in Congress. But not this time. Not only was most of America but, in fact, most of the world riveted to radios and TV screens. Treasurers, Prime Ministers and Presidents in a number of countries had changed their tune in a remarkably short period of time, from 'Our economic fundamentals are sound to 'We are on the edge of meltdown '.
WHAT ARE 'FUNDAMENTALS '?
The picture in the U.S. is ugly. Federal debt, after Iraq and Afghanistan, and hurricanes like Ike and Katrina, stands at $10.6 trillion. State and Local Government debt is a further $2.2 trillion. Mortgage debt is $11 trillion and consumer debt $2.6 trillion. These four items alone total over $26 trillion well over $100,000 for every living soul in the United States, including the millions of illegal immigrants!
But that 's only a fraction of the debt. Sheer gambling, in the form of derivatives, makes government and home mortgage debt look trivial. Wall Street banks are staring bankruptcy in the face. They daren 't even lend to each other. What better solution than to make ordinary citizens bail them out?
INCH BY INCH
The current list of owners is:
WHO ARE THEY?
Of the listed firms above, Lehman Bros has recently entered bankruptcy, being bought at a fire-sale price by Morgan Stanley. It is Goldman Sachs which has gained the pivotal posts for the 'new order '.
John Corzene, former CEO of Goldman Sachs and now Governor of New Jersey, was spokesman for the international financiers who confronted Australian Prime Minister John Howard in June 1996, shortly after he gained office, in Sydney. Yet another former Goldman Sachs man is now leader of Australia 's Opposition.
IN THE BEGINNING
Both Australia and the U.S. have weakly abandoned their duty to their people, conferring the power to create money on their own terms to a network of privately owned banks. The resulting system of usury has destroyed families and communities, and is now enslaving nations. So overloaded has the global debt system become that it threatens to engulf us all.
When Prime Minister Kevin Rudd and Treasurer Wayne Swan and, incidentally, former Goldman Sachs representative Malcolm Turnbull - urge the United States Congress to give total control to Henry Paulson they are, consciously or unconsciously, endorsing this reach for global government and A New World Order.
A CAUSE FOR HOPE
Enormous efforts were made by the financial establishment to discredit the proposition, and finally to silence it. Orthodox economics has been elevated to religious status, even though it is now resulting in breakdown.
In 1989, two professional men, J.D. Malan, an engineer, and A.A. Chresby, one-time Liberal Member of Parliament, made a submission to a Government Inquiry into the Financial System, the Campbell Inquiry.
Whatever way Congress votes,* we now face a prolonged period of financial difficulty. WE must do two things. Firstly, we must resist at all costs any idea of a world money system that would constrain Australia 's sovereignty over our own affairs. We must return to our Constitution. And we must seek an alternative that releases us from the world of compounding debt. ( *Members of Congress passed the legislation.)
Two essential booklets for those who have had enough of the banksters and politicians scams. These books open up the money issue from an entirely different perspective:
'The Money Trick, $13.00 posted
THE RESERVE POWERS
from David Flint 's Opinion Column:
In an interview on the ABC 's 730 Report on 23 September, 2008, the Governor-General, Quentin Bryce, said:
Professor George Williams is for codification...
An ACM view...
NATIONAL AND GOVERNMENT DEBT
In 'Test your knowledge ', On Target Bulletin 15th August 2008, the statistics are declared as follows ...
Forgive my ignorance, asks a reader, but how is "Australia's National Debt - Commonwealth & States - related to Net Foreign Debt? A.N.D. = Australia's National Debt, N.F.D. = Net Foreign Debt:
YEAR - - - A.N.D. - - - N.F.D.
In answer to the query Jeremy Lee replied:
WHERE 'S THE LOCAL GOOD WILL?
Where's the local goodwill when it comes to rates? asked journalist Chris Berg, in The Age 28th Sept. 2008.
'How do we know that our local councils have raised far more money than they need? It isn't the fact that local governments have enough money to send councillors on "diplomatic" missions to negotiate "friendship city" relationships. Moreland City Council proudly notes that it has relationships with councils in China, East Timor and on the beautiful island of Sicily.
Petty local council bureaucrats morph into investment bankers:
Vital diplomatic missions to sunny Italy and essential dog beauty pageants:
In Victoria, our councils' lesser subprime exposure is only due to the fact that they have been legally restrained from making the most stupid investments. Local governments have never been very competent at the best of times if you want to organise a hard-rubbish pick-up in April, you had better get on to the council now but it is particularly damning that the only reason Victorian councils haven't all gone under from shonky trading is because the State Government made doing so illegal.
"Of course, it's a bit ironic watching local governments fall foul of the financial crisis. To a certain extent, it was local governments around the world that caused the crisis to begin with. For many years, local governments have attentively listened to those prudish property owners who are eager to block their neighbours' development plans.
Council bureaucrats have had great fun heritage-listing otherwise useful buildings and blocking subdivisions. And council planners have helped state governments restrict development in the name of stopping evil "sprawl". These are the sorts of heavy-handed planning regulations that have artificially raised the price of housing and contributed to the housing bubble that spectacularly imploded earlier this year.
"Admittedly, local governments didn't invent the hoarding of tax. The Federal Government's Future Fund that accumulating mountain of cash has now morphed into a giant cheque account that tries to make a virtue of the fact that budget after budget, Canberra is taxing us more than even they can think of ways to spend.
"But instead of funding overseas trips, or playing the stockmarket, or hoarding for the future, perhaps governments should think about not taxing so much in the first place he concluded.
LOCAL GOVERNMENT SCANDAL
ICAC recommends criminal charges in Wollongong scandal. The Independent Commission Against Corruption (ICAC) has released its final report into corruption at Wollongong Council and is recommending that 11 people be charged with criminal offences.
The ICAC report into the Wollongong Council on the New South Wales south coast has been tabled in New South Wales Parliament in Sydney. The commission has recommended that advice be sought from the Director of Public Prosecutions (DPP) about charging 11 people named during the investigation with 139 criminal offences.
It wants the former Wollongong Council planning officer, Beth Morgan, charged with 27 offences. The commission found she abused her position to provide favours to developers with whom she was intimately involved.
The first ICAC report, released in March, questioned development consents granted by Ms Morgan to developers Frank Vellar, Glan Tabak and Michael Kollaris. It also investigated alleged corrupt conduct by four ALP councillors, including former deputy mayor Kiril Jonovski. It recommended the council be sacked.
The second report delivered a month later recommended suspension of a development application for Mr Veller's $100 million Quattro development.
THE SHODDY CHINA BRAND - NEWS FROM CANADA WE NEED TO KNOW
Chronicle Herald, 29 September 2008:
The chemical implicated in the Chinese dairy product debacle is melamine, an industrial resin used in the production of plastics. But melamine did not enter the food chain accidentally. In China, melamine 's ability due to a high nitrogen content to be added to farm feed and, apparently, raw milk to give the false appearance of high protein levels has made it a favourite additive in the agricultural sector for many years.
Melamine is forbidden for use as a food additive in North America.
In high enough concentrations, melamine can crystallize in the blood, leading to kidney stones and a risk of eventual kidney failure. Chinese feed industry members admit melamine use is still rampant in that country.
Last year 's pet food scandal, when thousands of North American dogs and cats died after eating product partly made with Chinese wheat gluten, was also traced to the melamine in the ingredient imported from China.
Those statements seem laughable today, as countries around the world move to ban imports of a range of Chinese food products from baby formula to chocolates, sweets and other goods that have been tested and found to contain melamine. Yet, last week, a Chinese government spokesman had the gall to insist the problem had been solved and no more bad news would affect the market. That 's wishful thinking.
Until China radically reforms its product-safety system ensuring manufacturers do not escape penalties for using unsafe materials to save money we 'll no doubt continue to see scandals erupt.
The list is already long:
Compounding the latest scandal is abundant evidence the main implicated dairy company and government officials suppressed information about problems with milk products despite illnesses in infants to avoid bad publicity before the Beijing Olympics.
Given what 's happened, many Canadians will no doubt want to avoid Chinese food products. The problem, however, is knowing.
As of Jan. 1, new federal rules will require goods labelled "Product of Canada" to have 98 per cent Canadian content.
NATIONAL WEEKENDA preview of the fruits of six or more years of intensive labour by a dedicated few a very few - was given at the New Times Dinner. It is a DVD comprising all of the New Times publications stretching back to 1935.
It will prove to be a most powerful tool for actionists and a wealth of information for those researchers interested in social credit, politics, philosophy, history and much more. When the long arduous project is finally completed the DVDs will be available for sale.
At the Seminar, two excellent power point presentations were made by Louis Cook and Terence Holmes and Diane Teasdale presented the paper "Defending Malaysia's National Economic Sovereignty" by Malaysia 's Dr. Mahathir. More on the presentations when the DVDs become available.
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