“There’s a small French book, ‘In Praise Of Treason’, where they prove that treason is part and parcel of politics. To succeed, you have to lie. If you say what you think, no one will vote for you.”
A few facts.
Courtesy of the RBA and the ABS.
Australia’s Gross Foreign Liabilities: $2.2 Trillion
Australia’s Net Foreign Debt: $750 Billion
Australia’s Net Income Deficit: $11 – $14 Billion per quarter
Youth unemployment rate (15-19yo): 24.5%
Got that?
Our Foreign Liabilities are over $2 Trillion. We owe 3/4 of a Trillion dollars in debts to foreigners. As a nation, in terms of trade with the rest of the world we are going backwards at a rate of between $11 and $14 Billion every 3 months. And a quarter of our young people are unemployed.
Now, to the picture of our debt-driven future. Be sure to watch it. With your eyes open.
via Zero Hedge (bold in original, my underline added):
The following rather stunning documentary provides a critical insight into what Europe (and Argentina once again) could well be progressing towards. There is a reason we highlight the ‘scariest chart in Europe’ as that of youth unemployment and with the central banks printing money at ever increasing paces and the next round of global competitive devaluation beginning, the debt slaves will suffer ever more. In 2001, Argentina collapsed; after many years of apathy in the country, the insurrection exploded. As TopDocumentary notes, the spontaneous revolt of ‘faceless’ people meant saucepans were being banged in every neighborhood.
What happened to Argentina? How was it possible that in so rich a country so many people were hungry? The country had been ransacked by a new form of aggression, committed in time of peace and in a democracy. A daily and silent violence that caused greater social disruption, more emigration and death than the terrorism of the dictatorship and the Falkland Islands war.
Ever since independence, almost 200 years ago, Argentina’s foreign debt has been a source of impoverishment and corruption and the biggest scandals. Since the first loan negotiated by Rivadavia in 1824 with the British Bank Baring Brothers, the debt was used to enrich Argentinean financiers, to control the finances and empty the country of its wealth.
This foreign debt always went hand in hand with big business, and with the complicity of nearly every government, from Miter and Quintana to Menem and De la Rua. The policy of indebtedness gave rise in Argentina to generations of technocrats and bureaucrats, who favored banks and international corporations over their own country. Educated at Harvard, Chicago, Oxford or Buenos Aires, their portraits hang in the official galleries.
Sound familiar?
Our own generations of technocrats and bureaucrats have long favoured banks and international corporations over our own country.
Exhibit A: our foreign debt-financed, world-leading housing bubble. Enslaving and impoverishing millions. For the benefit of the government-guaranteed, record profit-making Big 4 banks (that is, for the benefit of their Top 4 majority foreign shareholders, in particular, HSBC, JP Morgan, and Citicorp).
Exhibit B: the mining sector. And the so-called “mining super profits tax” in particular. A classic example of treason – yes, treason – by our own politicians (see Swan’s Anti-Australian Rant A Smokescreen For Treason ). For the exclusive benefit of 3 monolithic, majority foreign-owned international corporations.
Here’s another picture of our debt-driven future. Courtesy of the world famous investor, Warren Buffet.
In just a few minutes, it neatly drums home a little known reality. That our own “little island” has, for many decades, been on the same path depicted in Mr Buffet’s clever little cartoon.
This IS Australia:
“Treason has phenomenal political power, precisely because it’s treason. It’s insidious, it sneaks up behind you, without warning, where you least expect it. Otherwise it wouldn’t be treason.”
Barnaby Is Right 
Society is headed toward violent disruption – in the best interest of absolutely nobody !
My analysis of the problem and the solution are posted here:
http://personalliberty.com/2013/02/11/proof-of-a-u-s-police-state/
http://omanuel.wordpress.com/about/#comment-2422
Hey BI,
I’d love your comment on this email interchange with one Ross Greenwood
Hi Ross,
I recently came across a strange anomaly in the in the concentration of ownership of many of our major companies, and was wondering if you knew of this and had any ideas as to a plausible explanation.
The top 4/5 major shareholders of ALL of our banks are HSBC, JPMorgan, National Nominees & Citicorp. (in the same order). Same for Woolworths and Wesfarmers, Same for BHP and Fairfax. Same for QBE, Boral,Qantas,Caltex,
Same for Cochlear, Coca Cola Amatil, CSR, Origin Energy, Tabcorp. This list is not exhaustive. I just got sick of looking.
Any ideas??? Is this normal?
His response:
Hi XXXX,
Yes. Many big pension funds & superannuation funds hold their assets through custodians, or nominee companies. And many of them will be administered by these big international banking organisations.
No conspiracy. It’s about administration.
Cheers
Ross
Yeah right……..
LOL. Nice attempt by Greenwood at sidestepping the key point (an oligopoly, of foreign owners).
EDIT: make that “foreign owners/controllers“
Is anyone NOT compromised?
I’m sure many are only compromised by willful self-delusion. They can see, intuit that something is dodgy. But can’t cope with admitting the implications to themselves. It’s easier, more comforting, to believe other explanations. Any other explanations. Anything that does not shake their little comfort zone.
I was in Argentina for nearly a year in the nineties when overnight a massive devaluation of the currency was implemented. Devastating impact for middle and working class people, riots everywhere. Sadly Argentina has serially mismanaged their economy for decades. Even in the nineties BA a most beautiful city was in a state of decay, the economic troubles evident since near the start of the 20th century. I remember reading a book years ago called (I think) Land and Power in South America which laid out the groundwork as to why so many of these potentially rich nations fail to achieve rich nation status. That and consecutive governments embracing opposing economic/political objectives and ideologies – unlike Australia where it is pretty much more of the same.
Also happened to be in Mexico City (twice) when peso was devalued, more of the above and also in Bolivia when their currency was devalued. Perhaps I had better depart Australian shores!