The Chinese Money Trap By Peter Bennett

     After you watch this brief video and realise that China has its claws in many countries through its loan scheme; you will be concerned about the situation in Australia.  It is not only China but all foreign borrowings which can lead to the conclusions drawn in the video. To avoid such a disaster we must revert to the wonderful facility offered by the old Commonwealth Bank of Australia.  I mean before it split into our Reserve Bank and the Commonwealth Trading Bank.  It provided finance for World War 1 at minimal rates of interest.  It also provided long term, low interest loans to farmers; money for oil refining; coastal shipping and many other necessities.  This must be re-activated so we do not borrow from foreign sources.  Foreign borrowing was not necessary in the WW1 days and it is not needed now.  Australia is resource rich and can finance its own development.

     And a Chinese company holds a 90 year lease on the Port of Darwin!!!!!!

     A salutary warning, perhaps?
  https://www.youtube.com/watch?v=ClfMyhfA9MI

All Blog Posts Authorised by K. W. Grundy
13 Carsten Court, Happy Valley, SA.