The Privatisation of National Credit and Money-Printing by Jeremy Lee (Australia 2000- How Bright The Vision?)


This expansion of the money supply occurs every year; a smaller increase during a credit squeeze, accelerating when the Reserve Bank believes the economy needs stimulating. The controlling mechanism is now largely confined to the raising or lowering of interest rates.

It can also be seen that the creation of Australia’s monetary requirements - which many believe should be a Government prerogative - has been ceded almost entirely into private-sector hands. New money is put into circulation through loans and overdrafts, on which the ‘creators’ earn interest, and charge fees for operating accounts. They are not lending their own capital. They are claiming ownership of “new” money which is practically costless, and which should, in a just system, belong to the community.

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Social Credit and Foreign Trade by Wallace Klinck

"Obviously, if nations cannot absorb their own consumer production because of a lack of effective demand (i.e., unencumbered purchasing-power) and are forced to compensate by obtaining excess export earnings and seeking foreign investment it will be impossible to maintain cultural integrity as the financial pressures exert their inevitable and inexorable influence. 

While it makes sense for nations to trade in order to obtain otherwise unavailable and required resources and/or to reap the efficiency benefits of comparative advantage, it makes no sense and is destructive of national sovereignty to be forced into international trade merely to join in a multi-national (and futile) scramble to capture scarce credits necessary to facilitate the sale of domestic production. 

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Letter to The Editor

of The Stock Journal
Mr Tony Mahar’s support for Foreign Ownership (Stock Journal 25/8/16) is a view unfortunately held by some senior politicians and businessmen.  It is particularly unfortunate in Mr Mahar’s case since he heads the National Farmers’ Federation, an organisation with rank and file members expecting their leaders to promote, protect and nurture their industry and assets.

Around the world, most countries either severely restrict or even prohibit the sale of farmland to foreigners.  The Japanese economy has been declining for twenty years and yet I would not be able to buy any of their land. So why is Australia needing to assist the economy by eagerly displaying the “For Sale” sign?

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Cultural Marxism: Philosophy of the New World order by Charles Taylor

How do the bits and pieces fit together? Why is it that the principles of the Marxists, best seen on university campuses, and the global financial elite so perfectly coincide? Both support open borders, one on grounds of “anti-racism,” the other on grounds of profit maximization. Everything the Leftoids do, such as seeking diversity, smashing the traditional family, and creating a Balkanised population, enslaved to a usurious debt economy, benefits the financial elite.

One would have thought that Marxist would be opposed to such an elite, above all else. Yet, their fanatical, insane, mouth-foaming anti-racist mania prevails over all else.
So, the Left must be no more than useful idiots doing, consciously, or unconsciously, the bidding of their financial masters.
Children, beware! Take even one step upon the collectivist road and you will be lost in a realm of ice and darkness.

The Face of Economic Collapse by James Reed

An article in The New York Post, “These are the Signs of an Economic Collapse,”  is one of many articles appearing in the mainstream media, speculating about the long-anticipated big economic breakdown, one to dwarf the last GFC. The article gives a check lists of the signs that a crash is coming:

“What does the beginning of an economic collapse look like? Do you see grocery stores closing? Do you see other retailers, like clothing stores and department stores, going out of business? Are there shuttered storefronts along your Main Street shopping district, where you bought a tool from the hardware store or dropped off your dry cleaning or bought fruits and vegetables?
Are you making as much money annually as you did 10 years ago? Do you see homes in neighborhoods becoming run down as the residents either were foreclosed upon, or the owner lost his or her job so he or she can’t afford to cut the grass or paint the house? Did that same house where the Joneses once lived now become a rental property, where new people come to live every few months?

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NOT JUST IN AUSTRALIA THAT LOBBYISTS 'SWARM' AROUND POLITICIANS

The Transatlantic Trade and Investment Partnership (TTIP) is a proposed trade agreement between the European Union and the United States, with the aim of promoting trade and multilateral economic growth.

Corruption in the European Union: Scandals in Banking, Fraud and Secretive TTIP Negotiations
by Graham Vanbergen
http://www.globalresearch.ca/corruption-in-the-european-union-scandals-in-banking-fraud-and-secretive-ttip-negotiations/5543935

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RURAL AFFAIRS 
Crisis in dairy industry escalates to new level by Patrick J. Byrne

http://newsweekly.com.au/article.php?id=57411

A perfect storm has hit the dairy industry – deregulation of dairy and water, falling export prices, drought, the Murray-Darling Basin Plan, duopoly supermarket price wars, debt and issues of corporate governance.
In Victoria, a rural tragedy is unfolding as herds of cattle are going from dairy farms to saleyards to abattoirs.
While nature and global markets are beyond the control of farmers and processors, some of the factors behind the crisis are man made, and similar problems are facing other industries across the Murray-Darling Basin.

Read further: http://newsweekly.com.au/article.php?id=57411

Letter to the Editor

Fifty years ago the average working New Zealander worked less hours than today. Most mums were able to be full-time mums. How come with all the labour-saving advances we now work longer hours, have a longer working life, and only a small percentage of mums can afford to be full time homemakers?

There is no physical reason why this should be. The unthinking, in particular politicians it seems, who forever cry that governments should create jobs and pursue full employment, have not considered the absurdity of this. Many sources are now predicting that as much as half of existing jobs will be replaced over the next few decades by technical advances and robotics.

I suspect that those pushing to eliminate Easter trading restrictions are motivated by idealism rather than economic realities. That idealism wants to destroy all connections this country has to its religious heritage - a heritage that did not put bean-counting before family and community life.

I suggest that “our” politicians have a look into why all economic trading presently leaves an ever larger trail of unrepayable financial debt, instead of concocting hair-brained schemes for increasing employment and trading when we all ought to be enjoying expanding economic freedom.

BD, New Zealand

China’s Conquest of New Zealand (and Australia-ed)

Here’s the question: Did large Chinese companies, in league with their government, deliberately intend to harm the New Zealand and Australian economies by stockpiling products, in order to then purchase devalued land and commodities at a cut rate?

For several years, there have been whispers in New Zealand that farmers are becoming “tenants in their own land.” As Chinese companies move in more and more, carving out and buying for themselves swathes of New Zealand farmland (and Australian, too), those concerns are growing louder.
We New Zealanders are few in number but have slogged it out over the past century and a half to become the largest dairy exporter on Earth—sending out 95 percent of our product. Our dairy industry is critical to our economy. The livelihood of our country depends, to a great deal, on how well our farms do. Judging by what has been happening of late, that’s not so well at all.

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The “Great Benefits” from Free Trade Agreements by Tom North

The information which one can obtain from your local member can be instructive. One of our supporters wrote to his local member asking about recent cuts to dairy prices and potential assistance to the industry. The letter, in part, said:
“I referred specifically to the World Trade Organisation (WTO) Agreement on Subsidies and Countervailing Measures (Articles 3 and 5) and the WTO Agreement on Agriculture (Article 13 and Annex 2).
These agreements prohibit governments from providing subsidies or direct assistance to businesses which can then influence the export performance of a product, or preference domestic over imported products.”

So, a 50 c/L levy on milk, that would save our local dairy farmers, would breach these agreements. But, other nations only give a nodding glance at these agreements, which are basically only for the West to hold to, so both hands are tied behind our backs. It does not take long surfing the net to find vast literature on Chinese protectionism of industry and agriculture. Even Obama accused China of protecting its car industry, contrary to WTO dictates. Indeed, much industry in China is based on the communist state-run enterprises, so there is not even a sharp distinction between public and private, which is presupposed by the WTO documents.
These WTO Trade Agreements and other agreements such as the TPP are a recipe for Australian economic suicide.

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To The Editor

The disastrous visitation imposed on Australian Dairy-farmers was not unexpected.
It has been building up for many years and if you had been following the trends it was inevitable although its final form unknown; invariably it would be accompanied by misery and hardship for honest hard-working Australians.

The number of cows needed to remain a viable business has increased year by year pushed by costs arising from outside the farm boundary. In the beginning it was relatively easy to milk a few more cows or plant a couple more acres of crop. It was akin to a raging fire under the steam-boiler and adding more weight to the pressure relief valve.

All of the increased costs are induced by State and Federal Governments who automatically increase their taxes and charges by the annual inflation rate and this flows right through the community.
Added to this are local government rates and charges; have you ever known rates to be reduced? Capping council rates is another weight on the ‘pressure valve’.
Whenever there is a tariff review or references to the Productivity Commission, it always means increased costs whether it is energy (power and fuel), water for irrigation, etcetera. Farmers cannot pass these costs on to somebody else.

To offer farmers’ loans at concessional interest rates is also an inane response when the total rural debt carried by a diminishing number of farmers is rising each year.
It is not sustainable and will lead to ever more hardship and misery spread throughout the entire population of Australia with the only exemptions the few who live in ‘ivory towers’ who are insulated from the results of their decisions; it is time for a change!

The nub of the problem lies with the financial system and inherent inflationary policies emanating from our Parliaments. The Reserve Bank is a creature of the Parliament and is charged with ‘managing Australia’s Finance’. (Ask your elected Member for a copy of the Reserve Bank Act 1959)

Inflation should NOT BE MANAGED BUT ELIMINATED, and it can be!
This was effectively done during World War II and you can find references in the Australian Year Book, Number 37, 1946-47, beginning page 458.
Chapter XII, Labour Wages and Prices. Section C. Control of Prices during and since the 1939-45 War.

An inquiry into the Financial System needs to be undertaken but not lead by the wolves, (bankers and economists) instructing the foxes (elected politicians) how to manage the lambs and chickens (Australian Public).

It is the Parliament that should be instructing the ‘financial managers’ to implement policies in the best interests of the Australian people or terminate their employment; they must be judged on their performance which at present is wanting.
This also applies to the elected politicians who would rather yield to external foreign and financial interests before serving their constituents.

In the final analysis it comes down to the voting patterns of you, the Australian Voter … when will you wake up?
Louis Cook, Numurkah, Victoria

 

Some press references for your interest follow …

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Japan pays less for OZ gas because we have no Reserve Resource Policy

The news that Australian gas is cheaper in Japan than it is for Australian consumers comes as no surprise to older readers of On Target.

The June 17, 1977 edition of OT reported:

MORE SUBSIDIES FOR SOVIET CONSUMERS

"Murray Goulburn Co-operative Co. Ltd. of Victoria, manufacturer and marketer of dairy produce for more than 6000 Victorian and southern NSW dairy farmers, announced last week a huge sale of butter and full cream milk powder, worth almost $50 million, to the Soviet Union and Venezuela". The Australian, 27/5/77

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Globalism: A Failed Experiment (No 1) by Ken Grundy

James Reed has described globalism as a “failed experiment,” and I could not concur more. I intend to devote a number of articles to this topic in due course. But to get the ball rolling, I draw the reader’s attention to an article which lets the cat out of the bag, and throws away the bag.

Alex Tabarrok, “The Case for Getting Rid of Borders – Completely,The Atlantic, Ontober10, 2015, is an article well worth reading just to see how the globalist mind ticks over.

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A Wish List for a Royal Commission into the Financial Services Industry by Ken Grundy

The Labor Party, Greens, and independents Nick Xenophon team and Pauline Hanson, are supportive of a Royal Commission into the Financial Services Industry, especially the banks. There has been significant community concern over numerous scandals and consumer rip off such as Comminsure, the Commonwealth Bank’s life insurance arm.

See:  http://www.smh.com.au/business/banking-and-finance/comminsure-scandal-to-hit-cba-brand-again-20160308-gndj4y.html

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STATE-OWNED CHINESE COMANY AND DEFENCE DEPARTMENT

Source: cairnsnews.org
State-owned Chinese company buys John Holland - key provider for Defence Department in construction in $1.15b deal

John Holland is the Defence Department’s key provider of construction services, with contracts of about $570 million in 2014, according to the Australian Defence Magazine,which releases an annual report on defence contractors.

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The Rules of the Universe Transcend Human Thinking by Betty Luks

My ego received some rather large dents when a couple of loyal readers contacted the editor complaining OnTarget for that week was ‘boring’.  After knocking a few of the dents out and recovering some semblance of equilibrium I thought a good deal about the matter and thought that I failed to get my message across as was intended.  So here goes… again.

The response is based upon an article which appeared in the OT Christmass issue of December 2004.  http://alor.org/Volume40/Vol40No49.htm


In “Releasing Reality” Eric Butler writes:
“One of the most illuminating statements made by C.H. Douglas, one which reveals his proper humility in the search for Truth, was that the rules of the Universe transcend human thinking, and that if the individual wished to live in a world of harmony, he should make every endeavour to discover those rules and obey them.”

It comes as a bit of a shock when one realises that at the last judgement Christ will judge us, not by our great exploits, not by our great ‘faith’ or ‘belief,’ not even for the number of convert ‘scalps’ we have ‘chalked up’, -- but by how we have treated our fellow man:
I was hungry and you fed me; thirsty and you gave me drink; a stranger and you took me in; in prison and you visited me… Inasmuch as you did it unto one of the least of my brethren you did it unto Me.” Matthew 25.37.

One could say that has always been God’s purpose and policy for the ‘fruits of the earth’. His provisions are there to feed and clothe and house mankind. Put simply they are a means to sustain and maintain Life. 

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The Unpaid Work Force

Remember we wrote of the difference between the Moral Code and the Moral Law?  In the New Testament we read:  “The love of money is the root of all kinds of evil” which sprang to mind whilst reading about the UK government Mandatory Work Activity (MWA) scheme. Personally, the truth of that claim is clearer to me when the above is paraphrased thus: 

“The love of, that is, the preference for money, in terms of personal advancement, above all other considerations, is the root of all kinds of evil.”

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The scientific money system for the automation age of abundance by Robert E. Klinck, M.A.



From the Scarborough Sun, December 31,1970, Page 3.
THE SOCIAL CREDITER
The scientific money system for the automation age of abundance
by Robert E. Klinck, M.A.

In comparison with most of the major political forces operative in the world today, Social Credit is a phenomenon of recent origin. Indeed, this month (1970-ed) marks only the fifty-third anniversary of the publication of the first article on the subject by its founder and authoritative exponent, the late Clifford Hugh Douglas.

Partly because he was less concerned with personal recognition for his contribution to analyzing the defects of modern social institutions than he was with actually correcting the defects, and partly because he was cognizant—and therefore, wary—of the nonsense which frequently flows from the pens of biographers, no comprehensive biography of Douglas has ever been written. Nevertheless, sufficient information about him is available to permit us at least to sketch his remarkable career.  Douglas, being of Scottish descent, spent his latter years in Fearnan, Perthshire.  He was born, however, in Stockport, Cheshire, England in 1879.

Various comments in his writings and speeches indicate that he regarded obtaining his higher education at Cambridge University as one of the less rewarding experiences of his life.



C.H. Douglas  M.I. Mech.E., M.I.E.E.
prophet of the age of abundance

 
He entered the profession of engineering, in which he acquired a considerable experience as a participant in major construction projects around the globe.

He was on the staff of the Westinghouse Company of America; in India he was Chief Reconstruction Engineer for the British Westinghouse Company; in  South America he was Deputy Chief Engineer of the Buenos Aires and Pacific Railway Company. Returning to England, he became Railway Engineer of the London Post Office Tube system  and was engaged in the construction of an underground railway between Paddington and Whitehall. After the First World War, he became a yacht manufacturer.

In the course of overcoming physical obstacles as an engineer, Douglas gained an awareness of the tremendous potential in modern technology for individual human emancipation. It was, in fact, during the First World War that Douglas made a discovery which was shortly to result in his grafting onto his eminent career as an engineer those of economist and philosopher, as well.

At that time, as a Major in the British Royal Flying Corps, he was despatched to the Royal Aircraft Works in Farnborough to unravel a production problem. Its solution necessitated his carrying out an intensive investigation of costing in the factory. Applying this novel approach to broader economic considerations with rigorous use of the method of scientific induction led him to an unexpected conclusion which for decades was to be an issue of heated controversy among economists. In brief, Douglas claimed to have discovered that in a given period of time the amount of purchasing power distributed to potential consumers of goods was insufficient to allow them to purchase the goods produced in the same time. This matter will be discussed more fully in a subsequent article in this series.

One early result of Douglas’s inquiries was the publication in The English Review (December, 1918) of an article by him entitled, “The Delusion of Super- Production,” in which he attempted to demonstrate the falsity of the proposition being advanced from all quarters after the war that the key to achieving peace-time economic stability and prosperity lay in substantially increasing manufactures. Douglas argued to the contrary: he contended that, so long as existing financial provisions were retained, such productive activity would merely aggravate a technical problem which would eventually inflict a severe economic reckoning on the population. Subsequent events proved in dramatic fashion the soundness of his prediction.

After the publication of “The Delusion of Super-Production” Douglas devoted an increasing amount of time to consideration of economic issues. Nearly forty years of age, he wrote Economic Democracy, the first of numerous books. So condensed and unfamiliar were the ideas expressed in this work that it required a whole series of even longer volumes to clarify his analyses and his proposals. Although steeped in a profound philosophy, these early works were primarily concerned with economic propositions. Later—during the 1930’s and 1940’s—Douglas turned his attention towards politics and the problem of how successfully to implement his principles.

However distinguished by consistency and precision of expression Douglas’s writings may be, what is most impressive about them is the amazing way in which their author is able to cut through misconceptions, irrelevancies and emotionalism to the core of problems. In this regard, Douglas was unquestionably gifted with a singular clairvoyance.

Included as highlights in his career as an economist were his testimony at the Canadian Parliamentary inquiry into Banking and Commerce in 1923, his delivery of a paper at the World Engineering Congress in Tokyo in 1929, and his statement of evidence before the Macmillan Committee (of Great Britain) on Finance and Industry in 1930. During an immensely successful world tour, beginning in 1933, Douglas addressed enormous crowds in Australia and New Zealand, where he also testified before a Parliamentary Committee on Banking. In Western Canada he gave evidence before the Agricultural Committee of the Alberta Legislature and, in Ottawa, testified before the Committee on Banking of the Dominion Parliament. Before returning to England in 1934, Douglas proceeded to the United States where he was guest of honour in Washington at a supper for Senators and Congressmen arranged by Senator Bronson Cutting. In 1935, at the invitation of King Haakon of Norway, he addressed the King and the members of a merchants’ club in Oslo.

Some indication of Douglas’s stature as an economist can be obtained from the tribute paid him by the brilliant English editor and economist, A. R. Orage. “His knowledge of economics was extraordinary,” wrote Orage, “and from our very first conversation everything he said concerning finance in its relation to industry—and, indeed, to industrial civilization as a whole—gave me the impression of a master-mind perfectly informed upon its special subject; after years of the closest association with him, my first impression has only been intensified. In the score of interviews we had together with Bankers, Professors of Economics, Politicians and Businessmen, I never saw him so much as at a moment’s loss of complete mastery of his subject. Among no matter what experts he made them look and talk like children.”

Beside the fact of his unusual intellect, do we know anything of Douglas’s character? Better to appreciate that, it is desirable to quote at some length from another writer, L. D. Byrne, who was not only a keen student of Douglas’s thought, but also his personal friend:

“Notwithstanding a mental stature unusual in any society, Douglas’s outstanding characteristic was a profound humility—a humility which was reflected in his writings and in his life. This is the one quality which set him apart from his contemporaries and ensured him a lasting place with the truly great men in the annals of human endeavour. Where others viewed the world in terms of mankind’s struggles and achievements, and society as the creature of man’s brain and behaviour, with the realism of the engineer and the penetrating spirituality of a Mediaeval theologian, Douglas saw the Universe as an integrated unity centred in its Creator and subject to His Law.

“It was the basis of Douglas’s philosophy, of which Social Credit is the policy, that there is running through the warp and woof of the Universe the Law of Righteousness—Divine Law—which he termed ‘The Canon.’ Just as the stars in their courses, the electron in relation to the proton and the behaviour of light are obedient to it, so all Life is governed by the Canon. Because of the higher  intelligence and free-will accorded to him, Man cannot rely on instinct to guide him in his adherence to the Canon. He must seek it actively, and to the extent that he finds it and conforms to it, he will achieve harmony with the Universe and his Creator. Conversely, to the degree that he ignores the operations of the Canon and flouts it, he will bring disaster upon himself. (emphasis-ed)

“It was inherent in Douglas’s writings that he viewed society as something partaking of the nature of an organism which could ‘have life and life more abundant’ to the extent it was God-centred and obedient to His Canon. Such a social organism would be the corporate expression of the lives and relationships of its component individuals. Within it, the sovereignty of ‘God the creator of all things visible and invisible’ being absolute, there must be full recognition of the sanctity of human personality, and, therefore, of the individual person as free to live his life and, within the body social, to enter into or contract out of such associations with others as, with responsibility to his Creator, he may choose.  And no person may deny to another this relationship to God and his fellow men without committing sacrilege.” (emphasis-ed)

Surely, reading this passage, we can sense the character of Douglas and the scope and depth of his philosophy.

The man died in 1952. 

What seems amazing is the extent to which Douglas’s thought has been simply ignored. In spite of his having been one of the most talented writers and brilliant critics of the Twentieth Century, one can scarcely find a mention of him in decades of indices to the London Times. And today, while their shelves are filled with tomes on the obsolete and hate-filled doctrines of Karl Marx, booksellers refuse to display the works of Douglas, whose philosophy, respectful of the individual, held promise of achieving social harmony and whose policy was to make the vast productive potential of modern industrial nations serve rather than dominate man, to give him economic security accompanied by greater freedom to exercise his initiative and develop his personality. Douglas maintained that his proposals would produce these results—and no one ever succeeded in seriously refuting his claim.


Generational Warfare and the (false) Scarcity of Wealth

 I came across another article about the poor financial status of the younger generation.
http://theconversation.com/stark-divide-between-young-and-old-as-australian-household-incomes-and-wealth-stall-62534

The article subliminally attempts to divide the young and the old, pitting the generations against each other, as if one generations good fortune is the fault that causes the other generation to miss out. This is the Marxist dialectic - the Marxist philosophy. It is the way the Marxist views the world, their reality. It is not my reality of an abundant world, a world where there is more than enough and my cup runneth over.

The article fails to realistically look at the abundance of the material world. The author presents their point of view (philosophy) that there is a shortage, that there is a scarcity, (of which there is not enough building materials, land, initiative and of course finance) so these young may never own their own home, and it is the fault of the older generation. This is a religious point of view, dialectical materialism or puritanism. Both capitalist and communist have this same point of view.

The article does not look at finance as a 'policy of a philosophy', but that is what it is. The financial policy is formulated to always present a shortage, a scarcity to the community in order to ensure they are always kept poor in order to control them.  Had the financial policy being based on a philosophy of abundance, then there would be sufficient finance to purchase what each community is capable of producing. The material wealth of each generation would be based on what is physically possible by that generation. The wages of the younger generation have stagnated and not followed the increased cost of houses. But have houses really cost more to produce (materials and energy), or is that an outcome of financial policy? There is no question of the disparity of wages and final costs of production - (A & B theorum), only of charts and trends.

With automation, advanced control technology, robotics, computer science and the like, we are able to set machines to do the tasks of many, many men. The curse of Adam has been lifted. We must open our eyes to see it, to place our Faith (our outworking of our philosophy) into a 'new financial system' that reflects the abundance, the wonderful provision that is before us.

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What is Democratic Government?

extracted from Our Sham Democracy or The Majority Vote Racket by James Guthrie
http://veritasbooks.com.au/our-sham-democracy-or-the-majority-vote-racket-%E2%80%93-james-guthrie

A democratic country is a country where the people can exercise effective control over their government's actions. If the people cannot exercise effective control, then the country is in the hands of a dictatorship. Democratic government is the only alternative to a dictatorship, and this is probably its only justification for existence, albeit an all-sufficient one....

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