At Long Last – A Truly Great PhD Thesis! by James Reed

I never thought that I would see the day, but a PhD thesis has exposed a global gold price collusion scam. (The Australian, October 14, 2016, p. 1) Not only that, but four of the world’s major banks are being sued for up to $1 billion over fixing of the price of gold.

Dr Andrew Caminschi conducted a computer analysis of tens of millions of gold transactions and discovered manipulations during the meetings, held twice a day to determine the benchmark price of gold. It was found that during the meetings, but before the benchmark price of gold was supposed to be known, there was a substantial rise in the trading volumes of gold derivatives. This indicated that the banks were engaged in insider-trading, making use of information not available to the rest of the market.

Congratulations Dr Caminschi! One wonders what else could be uncovered if PhD theses, and academic research in general sought to pursue such lines of research.

Letter to The Editor

to The Australian
One does not have to be a fan of Eustace Mullins to feel that there is truth in some of his views as quoted by Senator Malcolm Roberts ('Senator rejects Jewish slurs', 22-23/10). Surely no-one seriously disputes the facts that the founding of the US Federal Reserve came about largely through the proposals of Jewish banking interests and that Jewish influence is very powerful among Western European nations thanks to financial power wielded by some Jews.

To what extent that influence promotes socialistic world government through the UNO or uses climate change fears are surely questions that can be debated in our public forums without any need to invoke the pejorative term 'anti-Semitism'. One reason for advocating the removal of section 18C of the Racial Discrimination Act is that it could be used unfairly against someone reasonably - and not unreasonably - critical of certain Jewish activities.
NJ, Belgrave, Vic

This Week’s Theme: The System is Indeed “Rigged” by Bruce Bennett

The theme discussed in articles this week – ranging from the philosophical lessons of the US election, to gun control, section 18 C and many other topics –is that “the system is rigged,” to take a meme from the present Trump debates. The idea here is that the “system” – economic, political, and cultural – has fundamental elements of corruption and deception built into it. Social creditors would not be surprised to be told this because they have been aware since at least Major Douglas’ first writings about our flawed financial/economic system, with faults ranging from the lack of purchasing power to the “black magic” creation of credit by banks out of nothing and the debt creation on financial instabilities produced by that.

However, apart from the “big picture” corruption, relating to the fundamental contradictions of the system, we continue to find every week “micro corruptions” in the economic, political and cultural systems. To name a few from economics: there is the “discovery” of a global gold price collusion, where the world’s major banks rigged the price of gold for over a decade: The Australian, October 14, 2016; A Caminschi and R. Heaney, “Fixing a Leaky Fixing: Short-Term Market Reactions to the London PM Gold Price Fixing,” The Journal of Future Markets, vol. 34, no. 11, 2014, pp. 1003–1039.
There is also the failure of politicians across the world to address the seriousness of the exploding debt crisis. While the media falls all over Hillary Clinton, bowing to her globalism, US national debt is now a crushing $US 20 trillion, as Collapse News, October 21, 2016 reports. It would take 18 months, using the entire US GDP – which is obviously impossible – to pay this debt off No-one asks: who is the debt to, and how could a nation become essentially bankrupt? Who lurks in the shadows pulling the strings?

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Some Thoughts on the Terms of Reference for a Royal Commission into the Financial Sector by Ken Grundy

Our organisation is fortunate to have many economically and financially literate people, active in social credit. Thus, we should begin work on a submission to be made to the royal commission into the Financial system, if this ever sees the light of day. At present, Turnbull opposes it, but the Labor party is championing the idea. Back in August Shorten sent a letter to Turnbull outlining some of the terms of reference, or issues, which would need to be examined. These include:

1.    The extent of illegal and unethical practices within Australian financial services.
2.    Do Australian financial services adequately meet their duty of care to customers?
3.    How does the ethical, cultural standards and business practices of Australian financial services impact on the behaviour and practices of these institutions?
4.    Is Australia’s regulatory framework adequate to police illegal and unethical behaviour in the Australian financial services institutions?
5.    How does Australian experience in all of the above compare or contrast to international experience?
6.    Any other relevant issues.

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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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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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Letter to The Honourable Tim Fisher

Dear Mr Fisher
A couple of weeks ago I heard you being interviewed by an A.B.C. chap relative to the coming Centenary of the completion of the Transcontinental Railway line at Ooldea on 19 October 1916. I want to thank you for drawing attention to this historic achievement. But, perhaps more importantly, draw your attention to the manner in which the project was financed. The financial lesson of the past should be broadcast far and wide.

The two enclosed booklets (http://alor.org/Library/Amos%20DJ%20-%20Commonwealth%20Bank.pdf) detail how the Commonwealth Bank of Australia of Andrew Fisher, King O'Malley and Sir Denison Miller delivered quite remarkable benefits to our Nation for a period of about 12 years before the private banking cartel effectively castrated the Nations "peoples’ Bank".

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The Meme War by Chris Knight


Here in Australia critical writing among conservatives is not big on satire and a sense of the absurd; in a word, the use of memes, imagines and genes of ideas which express in one condensed package a powerful political message.
However, Alt Right literature in Europe and the United States does this, using characters such as Pepe the frog to deconstruct and disarm opponents. Hillary Clinton noted this meme war in her Alt Right speech. Pepe and other symbols introduces a sense of iconoclastic fun into an otherwise dry-as-dust, deadly serious debate. It is young person’s radical politics. It is the sort of material that a social media savvy generation loves.

This is not our way, and we should not try to use such techniques because, well, we are all just too old. Nevertheless, good luck to the younger generation in getting these ideas out. It would be good to see memes about fraudulent banking, the corrupt financial system, and the social credit answers as well.

Letters to the Editor

Western Leader, NZ
Aidan Crabtree (Western leader 13-9-16) says that wages are insufficient for most people. I agree. But there is no proper solution in forcing employers to pay more. All the costs of running a business must be recovered in the prices charged by the business. Higher costs, as in higher wages, higher overheads, etc., must be recoved in higher charges by that business, otherwise the business will go bankrupt.

The money system ought to be seen as society’s accounting system and able to be modified as factors such as labour-saving technology arise. Presently the production system staggers haphazardly along because the consuming public, which is all of us to one extent or another, have been permitted to mortgage ourselves to appalling levels. All new money presently introduced to  the system only adds to debt levels. A portion of new money creations needs to be introduced directly to consumers.

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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.

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

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

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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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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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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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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