WHO SHOULD CREATE AUSTRALIA'S MONEY?

by Jeremy Lee,
February 2010

The Obama government has just introduced the latest budget, with a deficit of $US 1.7 Trillion. As in Australia, there has been a huge reaction in the United States against the policy of bailing out banks and sending the bill to the taxpayers. President Obama has' had to give the appearance of doing something about this, and so, under the guise of being tough with Wall Street be is putting a limit on bank staff'bonuses. The policy is to be admimstered by Ben Benanke, head of the Federal Reserve System.

This, of course, is a privately owned conglomerate of international Banks, and will do nothing to solve the American debt crisis, which has bankrupted the American people. "Federal'' government debt in the US is now $US 15 TRILLION. Total debt -States, Local Govt private etc. - is far higher.

Here in Australia Commonwealth Government debt, - having been eliminated in 2007 - now totals $AU250 billion, all incurred by the Federal Government's "stimulus" package, which simply borrowed money from the banks, thus further indebting the Australian people.

Australian honsebold debt is now bigger per head of population than that of the United States. Generally, the only economists who are quoted never question the policy of borrowing money to stimulate the economy. The only economist who has accurately described the real situation is Professor Steven Kcen of the University of New South Wales.

In a News Limited article, the following figures were given: "In a new record, Australians now owe more in household debt than the country's entire economy earns in a year. Reserve Bank figures show mortgage, credit card and personal loan debts now stand at $AU 1.2 TRILLION, up 71 percent from just five years ago and equating to $56,000 for every man, woman and child in the country ...."

Throughout the world there is rising anger against the banks, and Governments know that something must be done. The trick is to give the appearance of action without harming the private banking monopoly over money creation. British PM Gordon Brown suggests that we must have a "global system" if the problem is to be solved, in other words he recommends the very world government that some bankers are pursuing.The Government of Sweden suggests that: there should be a tax on banks to cover the next necessary bail-out. It would simply be passed on to customers, along with the debt and interest.

Very few, least of all our politicians, dare suggest that the ppower to create money be taken away from the banka so that they are restricted simply to lending. The power to create a nation's money belongs to the People - as Abraham Lincoln suggested - under a fomula that provides an accurate balance sheet showing the true position of the nation.

Depending on the increase, or otherwise, in productive capacity, money should be created debt-free and distributed direct to all individuals in the form of an annual dividend. Each person, man or woman, should receive their fair share, and on no account should Governments be allowed to borrow direct from the banks or use created money without the people's approval.

Australia has demonstrated, in its history, how money could be created instead of borrowed.
The story of the Commonwealth Bank is not myth, but history. The idea needs to be expanded to the point where money is taken out of public spending so that all individuals may have a direct share, as a God-given right, to the wealth of the nation.

A very limited example of the way this could be done can be seen in Alaska, where all oil royalties are distributed directly to Alaskan citizens from six months old - each year by cheque. The Constitution of the Alaska Permanent Fund prohibits any interference by politicians or changes by Government policy.

During the last twelve months - January 2008 to December 2009 - the volume of money in Australia (taking the M figures as an indication) has grown from $98 BILLION to $1177.8 BILLION (Reserve Bank Bulletin figures December 2009). Roughly, tbat's a monthly growth of approximately,,.- $16.6 Billion.

Who does this new money belong to? The banks? Or the People?
At the moment all this money comes into existence from the banks at interest, to be paid for put of prices. If inflation increases, interest rates arc raised, and the banks get the added Interest payments as well! After a brief moment the people get the bill and the banks get the stimulus - with compounding interest!

One year ago - January 2009 - President Obama was inaugurated as America's 44th President with acclamation. At the same time I made a DVD, "Mending A Mortgaged World", predicting what would happen. More and more nations approaching bankruptcy - Iceland, Greece, Ircland, cakifornia, Britain, the United States, Portugal, Zirnbabwe, etc. The latest World Economic Forum in Davos, Swirtzerland recommended Global control of all nations and economies. More and more people live in abject poverty - except politicians and bankers!

The World is now approaching a point of collapse and.breakdown. Unless there is an active regeneration of ordinary men and womenwe will be destroyed and dispossessed. The only body capable of this regeneration is the body of believers known worldwide as the Church, under Christ Jesus and the guidance of the Holy Spirit. The awakening is just beginning. Is it too, late?

Scnptue tells us the people are destroyed for lack of knowledge and that we need a vision - or we will perish. Get that knowledge, pray for help - and take action!

Further reading:
"Why I Fight" by Jack Lang, at one time Labor premier of New South Wales. Price $28.00 plus postage.
Watch:
DVD: Mending a Mortgaged World" by Jeremy Lee available from our Book Services.