At the recent election, 87% of Australians aged 18 years or older voted for the Liberal – Nationals Party coalition, the Australian Labor Party, or the Greens.
Over the past four years, as the ALP / Greens alliance loaded up on national debt, and continued raising the debt ceiling ever higher, your humble blogger has continually pointed to the Interest-on-Debt bill …
… and cautioned that the Australian Government Will Never Get Out Of Debt.
Yesterday, incoming treasurer Joe Hockey confirmed that I was right.
How so?
By announcing the Coalition’s intention to increase the government debt ceiling by 67%:
The Federal Government has announced a $200 billion increase to the Commonwealth debt ceiling and a six-month audit into government spending in the face of a “deteriorating” budget position.
Treasurer Joe Hockey announced the measures after a federal Cabinet meeting in Canberra on Tuesday.
“The Coalition Government will have to increase the debt limit for Commonwealth government securities to $500 billion,” he said.
“$500 billion”?
“Have to”?
I don’t see a loaded gun being held to Hockey’s head … do you?
“We are increasing it to that level because I’ve been advised that on December 12, the current debt limit of $300 billion will be hit.”
He said the last Treasury assessment, provided in the pre-election fiscal outlook, predicted debt would peak at $370 billion.
However, recent trends show it will instead “exceed $400 billion”.
“And we’re not going to do a thing to stop it”, is what he failed to add.
Now we must all endure the risible circus show for the masses.
The Great Facade.
As one “side” of politics argues that they are only doing this due to (a) the other side’s failures, and (b) to avoid having to do it again and again and again — a la the USA recently.
While the other “side” of politics argues that this is (a) hypocritical, and (b) tantamount to asking for a blank cheque.
The antics of both “Left” and “Right” are all a distraction, of course.
The simple facts are these.
If you are one of the 87.58% who voted for the LNP Coalition, or the ALP / Greens, then you voted to sell yourself, your children, and all your fellow Australians’ children into slavery.
Even with usury rates worldwide at historical lows, the Interest-on-Debt bill ($14+ billion p.a.) is already far greater than all but three of the Howard Government era budget surpluses.
Those surpluses came amidst a huge mining boom. A massive sell-off of our national assets. And, an unprecedented, impossible-to-repeat increase in private debt (meaning, the government could run big surpluses, as a counterweight to “growth” in private debt-fuelled “GDP”, without causing a recession).
Those surpluses will never be seen again.
The mining boom has peaked.
There is little left to sell.
And private households are in debt up to the neck.
Meaning … the Australian Government will never get out of debt.
We are completely enslaved.
Our new treasurer has just confirmed it.
You, your children, your grand children, will have to work ever harder, only to be gouged ever harder, by direct and indirect taxes, just so the government/s that you voted for can pay a portion of the annual usury bill to the bankers.
Each year, the portion that can not be paid, will be “rolled over”, and become new, ever greater debt obligations.
Each year, the politicians will add even more debt.
To pay for their lavish, minimum $195K p.a. incomes.
Their jet-setting lifestyles.
And their craven, immoral political “promises”.
I wonder how long it will be, before one of our triennial national elections surveys actually shows a fall in the number of Australians voting to sell their children.
P.S. Yes, still on hiatus … simply rose up at 3-something a.m. to exorcise this topic from my mind.
Barnaby Is Right 
There is a solution — it is called Positive Money. Go to http://www.positivemoney.org and http://www.positive money.org.nz
Interested Aussies are invited to set up a sister organisation to our kiwi one!
Could someone please explain ? Joe Hockey goes to Washington to have a meeting with the Banksters. He then comes back and all of a sudden he decides to raise the debt ceiling including giving the RBA $8 Billion because the RBA is crying poor. “WTF” I thought the RBA has a licence to print its own money and issue credit from nothing? So has Joe Hockey and the Treasury approved a loan of 8 billion from the Reserve Bank at interest, to then give back to the RBA to gamble that money with foreign currency reserves. The Australian Tax payer then has to pay back the loaned $8 billion plus interest, $8 Billion which the RBA created out of nothing in the first instance through fractional reserve lending. Am i correct at interpreting, the RBA is the creator and beneficiary of that loan that we have to pay back?
As I understand it, the government will give the $8.8 billion to the RBA by first borrowing it (ie, selling government bonds) in the international currency markets. In other words, they will borrow the money from foreign “investors” — at interest — and gift the money borrowed to the RBA. Yes, it’s treasonous madness, since the RBA could simply create the $8.8 billion out of thin air.
Which, incidentally, would have the enormous added benefit of weakening the way-too-high AUD fx rate.
Naturally, anything that would be in the national interest is the very last thing the banksters and their political puppets will do.
BTW, this means that this year’s budget has effectively blown out by $8.8 billion in one hit … which the LNP will blame on Labor, as this year’s budget (2013-14) will be deemed their budget.
Joe Hockey is just compounding the Labor debacle of making us more enslaved while the rabbit PM pretends he’s important fighting bush fires.
It is a comedy of stupidy and self destruction which proves the two major parties are puppets of the global banking cartels. Most of our pollies now know the truth and have elected to betray we the people of Australia.
Yep.
Agree!
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before morning. Henry Ford.
Are our politicians ignorant or complicit?
copperplate2, I’d suggest it is much like the way paedophiles groom their victims. Many pollies started out with good intentions but their lust for power has over come their desire to see a just society. Everything is now for sale including their integrity.
This system grooms economic paedophiles which are parasitic and self destructive.
I just wish everyone would wake up, and burn the criminal RBA to the ground.
Nations assets are used as security or sold to the banks in exchange for their worthless “money”. Promissory notes based on present or anticipated wealth creation are deposited on the asset side of the banks ledger in exchange for rectangular bits of plastic with numbers on them which have no wealth production to back them, cost mere cents to produce and on which usury is charged which is not issued into circulation. No wonder Adolph Hitler got cranky and ended up with the whole dumbed-down world against him – which proved that he must have been on the right track.
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Adolph Hitlers “Weltanschauung”, or outlook on the world –
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Dr Ingrid Zundel’s article re Hitlers economic principles –
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http://www.veteranstoday.com/2011/09/13/hitler-and-the-banksters-the-abolition-of-interest-servitude
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“…..Approximately 40 percent of Feder’s ”The Program of the NSDAP” is devoted to economic and financial policies. Below are some of the highlights.
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Adolf Hitler prints its two main points in leaded type:
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“THE COMMON INTEREST BEFORE SELF-THE SPIRIT OF THE PROGRAM ABOLITION OF THE THRALLDOM OF INTEREST – THE CORE OF NATIONAL SOCIALISM.” “Once these two points are achieved, it means a victory of their approaching universalist ordering of society in the true state over the present-day separation of state, nation and economics under the corrupting influence of the individualist theory of society as now constructed. The sham state of today, oppressing the working classes and protecting the pirated gains of bankers and stock exchange speculators, is the area for reckless private enrichment and for the lowest political profiteering; it gives no thought to its people, and provides no high moral bond of union. The power of money, most ruthless of all powers, holds absolute control, and exercises corrupting, destroying influence on state, nation, society, morals, drama, literature and on all matters of morality, less easy to estimate.
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“Break down the thralldom of interest” is our war cry. What do we mean by thralldom of interest? The landowner is under this thralldom, who has to raise loans to finance his farming operations, loans at such high interest as almost to eat up the results of his labor, or who is forced to make debts and to drag the mortgages after him like so much weight of lead.
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So is the worker, producing in shops and factories for a pittance, whilst the shareholder draws dividends and bonuses which he has not worked for. So is the earning middle class, whose work goes almost entirely to pay the interest on bank overdrafts.
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Thralldom of interest is the real expression for the antagonisms, capital versus labor, blood versus money, creative work versus exploitation. The necessity of breaking this thralldom is of such vast importance for our nation and our race, that on it alone depends our nation’s hope of rising up from its shame and slavery; in fact, the hope of recovering happiness, prosperity and civilization throughout the world. It is the pivot on which everything turns; it is far more than a mere necessity of financial policy. Whilst its principles and consequences bite deep into political and economic life, it is a leading question for economic study, and thus affects every single individual and demands a decision from each one: Service to the nation or unlimited private enrichment. It means a solution of the Social Question.
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From Historian David Irving’s work “Hitlers War”
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http://www.fpp.co.uk/books/Hitler/1977/html_chapter/13.html
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Hitler’s outspoken philosophy in July 1943 was this : “In the end man lives from the soil, and the soil is a goblet passing from lip to lip, which Providence allows to linger longest with the nation that fights for it.”
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Mr Hitler therefore would agree with the following three precepts –
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2Thessalonians 3:8-10 “…..nor did we eat bread from anyone as a gift, but by labour and toil, working by night and by day in order not to burden anyone of you ………For even when we were with you, we enjoined you, that if anyone desires not to work, let him not eat.”
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The General Epistle of Barnabus chapter 9 “………wherefore it is not the command of God that they should not eat these things; but Moses in the Spirit spake unto them, …….neither says he, shalt thou eat the eagle, nor the hawk, nor the kite, nor the crow; that is thou shalt not keep company with such kind of men as know not how by their labour and sweat to get themselves food; but injuriously ravish away the things of others; and watch how to lay snares for them; when at the same time they appear to live in perfect innocence………so these birds alone seek not food for themselves, but sitting idle seek how they may eat of the flesh others have provided; being destructive through their wickedness……..”
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2Timothy 3:12-13 “And indeed, all desiring to live godly in Christ Jesus will be persecuted. But men-pleasers and pretenders will go forward to worse, deceiving and being deceived.”
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Another excerpt from Dr Ingrid Zundel’s article re Hitlers economic principles –
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“………Our financial principle: Finance shall exist for the benefit of the state; the financial magnates shall not form a state within the state. Hence our aim to break the thralldom of interest.
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Relief of the state, and hence of the nation, from its indebtedness to the great financial houses, which lend on interest.
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Nationalization of the Reichsbank and the issuing houses, which lend on interest.
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Provision of money for all great public objects (waterpower, railroads etc), not by means of loans, but by granting non-interest bearing state bonds or without using ready money.
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Introduction of a fixed standard of currency on a secured basis.
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Creation of a national bank of business development (currency reform) for granting non-interest bearing loans.
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Fundamental remodeling of the system of taxation on social-economic principles. Relief of the consumer from the burden of indirect taxation, and of the producer from crippling taxation (fiscal reform and relief from taxation).
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Wanton printing of bank notes, without creating new values, means inflation. We all lived through it. But the correct conclusion is that an issue of non-interest bearing bonds by the state cannot produce inflation if new values are at the same time created.
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The fact that today great economic enterprises cannot be set on foot without recourse to loans is sheer lunacy. Here is where reasonable use of the state’s right to produce money which might produce most beneficial results…….”
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http://www.informationclearinghouse.info/article36621.htm
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“In Australia, the US dollar will no longer be used as the currency in which to settle the Australian trade accounts with China. Instead of dollars, trade will be settled in the Chinese currency.
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Washington served as cheerleader, as did most economists and libertarians, while US corporations, greedy for short-term profits and executive bonuses, offshored US industry and manufacturing, calling it free trade. The obvious and predicted result is that China’s demand for resources needed to fuel its industrial and manufacturing power now dominates markets. This means that the US dollar is being displaced as world currency. The only market that America dominates is the market for financial fraud.”
During the recent election, Clive Palmer I am informed had at the front of his office in Queen Street Brisbane, facing the street, in letters 2 feet high, the words, “China First.”
“United Front Against Debt” an African viewpoint.
This is the best understanding of banking and money that I have come across on a YouTube video.
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“Michael Tellinger on Money”
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If I want to ‘buy’ a house from someone who owns one but don’t have the money that the (free) market says I must pay, I must then borrow from someone else – usually a bank. They then give that – far from worthless – money to the seller and I sign up for the Mortgage (a “Negotiable Instrument”). Though the money is not “worthless”, its creation costs the banks nothing. Given this State sanctioned role, their only “cost” arises because they cannot – individually – issue limitless money. That is the opportunity cost they would obtain if their loaned to someone else.
Without that role of the Banks as Intermediary I and millions of others wouldn’t be able to buy houses. The same goes for numerous other essential – credit – transactions in any economy. Economies would be slowed down to a fraction of their previous size.
But the “legitimacy” of Bankster robbery arises from this essential role as intermediaries. We cannot say they don’t take any risks because, in the 1890’s and 1930’s very large numbers of banks have gone bust. Today that doesn’t happen because the power of Finance Capital under Global Imperialism has meant that State underwrites their losses and loads them onto the working population and the real economy. This therefore leaves the banks free to gamble with all the “products” – “Negotiable Instruments” – they have accumulated from their issuing debt and thus enrich themselves with minimized risk.
“Without that role of the Banks as Intermediary I and millions of others wouldn’t be able to buy houses… Economies would be slowed down to a fraction of their previous size.”
I disagree with this. It is precisely the idea (ie, fear of unaffordability, “recession”) that the banksters rely upon to keep the scam going.
In the absence of their “credit” scam, the price of (eg) real estate would be (1) different (ie, form of payment), and (2) less.
Maybe you misunderstood my view, BI. Please excuse the grammatical errors, but my main points were: (1) to assert the necessary role of credit; (2) to affirm the fact that paper money can definitely work to the favour of the nation, provided its “printing” (issuance) is in accord with economic activity.
Credit is required. But let a State owned banking monopoly (the ALP Chifley Government “tried” to bring it in in 1948-49) fulfill that role*.
So the correct policy is to nationalise the Banks under the control of the – real – working people: workers, professional people, farmers and small and medium business people.
*Oh how things changed: from Technocratic Labor of the Whitlam period to the garbage of the nascent Globalists of the Keating-Hawke government who privatised everything, including the huge Commonwealth Bank (a hard fought creation of the ALP), thereby flushing the strength of the Australian nation down the toilet.
My view – on this question – is not very different to that of Nat Kapner:
A Plan To Replace The Fed
http://www.realjewnews.com/?p=856
Ron Paul’s Gold Standard Nightmare
http://www.youtube.com/results?search_query=Ron+Paul%27s+Gold+Standard+Nightmare&oq=Ron+Paul%27s+Gold+Standard+Nightmare&gs_l=youtube.3..0.14934.14934.0.15349.1.1.0.0.0.0.356.356.3-1.1.0…0.0…1ac.1.11.youtube.lkFSdXbqOJE
Ron Paul Money VS Sound Money
http://www.realjewnews.com/?p=860
My earlier post was to explain WHY the robbery of banks was/still is tolerated.
Keep in mind that not all banks were Jewish. They started with gusto in Northern Italy by Italians, though Jews were in on it there too.
They filled the essential role in the emerging capitalist dominated economies* as providers of the – essential – credit and were transformed from gold owners to gold leveraged lenders UNDER COVER OF THE ESSENTIAL ECONOMIC ROLE WHICH THEY ALONE PERFORMED.
*Capitalism existed even as far back in the Ancient World as the Slave Societies (eg of Greece and Rome), but it was not the dominant economic form and so the capitalist class (now the class of Financiers) didn’t dominate society.
You deny the essential role of Credit* in any economy? But how would people starting out in life buy their own home. How would importers buying goods and warehousing them till sold, farmers needing credit buy inputs till their crop is harvested, and sold? And so on, many times over?
*I’m not – necessarily – referring to the credit of Private Bankers, but to credit as such.
http://inquiringminds.cc/our-court-documents-contain-no-less-than-thirty-laws-bills-and-acts-that-are-broken-by-the-banks-on-a-daily-basis-with-impunity-as-if-they-are-a-law-unto-themselves-tellinger-sai
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During Tellinger’s last appearance in the Supreme Court in Johannesburg in March 2012, there were some fascinating events that took place. His argument was about one and a half hours long. The counter argument by STD Bank did not last more than 15 minutes, during which the senior counsel lost his cool and in a raised voice admitted to almost all the allegations made by Tellinger against Standard Bank.
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The statements are on record for all to see and contain admissions that:
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1. the bank does create money out of thin air by clever debit and credit entries;
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2. that they do not have vaults of money and therefore cannot act as a lender;
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3. that they do practice securitisation therefore act as an intermediary agent and not a bank;
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4. that they generate undue enrichment from the client’s signature;
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5. and thereby sell the rights to third parties and lose the right of title;
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6. that they do accept payments in the form of bills of exchange, promissory notes and negotiable instruments;
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7. and that apparently what they do with the clients’ signature and surety is none of the client’s business and that they do not have to disclose anything of that nature to the client… in other words non disclosure.
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http://treesdancing.org/michael-tellinger-challenges-illegal-banking-practice-south-african-constitutional-court/
Interesting. Thx Kevin.
Michael Tellinger takes on the banks – The world was meant to be free
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“Spinechilling speech from the movie NETWORK in 1976 – The world is a BUSINESS! We are the slaves and the assets of those who control the business. Time to wake up and free ourselves. Nobody will do this for us. The universe is waiting for our action so that it can respond with the universal law of attraction. If you still do not understand this principle – I urge you to read and learn as much as you can – and then join the UBUNTU Liberation Movement – be the change – live the change – lose the fear. Love and Light Michael of the family Tellinger”
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The world is a BUSINESS!
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http://andrewgavinmarshall.com/2013/10/30/global-power-project-central-bankers-and-the-institute-of-international-finance-part-3/
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“In Part 1 of the Global Power Project exposé on the Institute of International Finance, I examined the origins and evolution of an organization representing the interests of global banks. In Part 2, I looked at the role played by the IIF and its leadership during the European debt crisis. In this third and final part in the series, I examine the relationship between the IIF and global central bankers.
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Since the early 1990s, the IIF has been heavily involved working with central bankers, particularly through the Bank for International Settlements (BIS) in Basel, Switzerland, where private bankers have been granted a powerful position determining their own regulations in international financial markets. The IIF has been central throughout the reform of Basel I and the entire process of both Basel II and Basel III – collectively known as the Basel Accords – which were officially organized through the Basel Committee on Banking Supervision (BCBS), run out of the BIS………”
http://www.newera.org.za/class-action-lawsuit-against-the-banks/
http://www.newera.org.za/class-action-lawsuit-against-the-banks/
http://www.theworldwasmeanttobefree.com/quotes.html
The debt problem is off course just a part of a much wider scheme to change the world financial system to distribute wealth to the third world, prop up gold as a currency and implement a social agenda that will replace democracy with a form of world government we can barely conceive of.
Bothering to even count the bond linked bent is futile, most of the currency it purports to represent is non existent and will never be repaid. A more threatening issue is the new emerging Halal meat futures trade run almost entirely from the Gulf and with some pretty scary links to the MK Ultra program still underway courtesy CIA and other intelligence operatives. This certainly will build to a bond market level pool with five years and play a major part in food security aspects of the world gov agenda.
This Halal /Gold futures trade is becoming the major source of people smugglers funding. It literally pays for thousands of brainwashed refugees ie sleeper cell operatives to bring their so-called ZHalal supplies in via the back door ie Christmas Island thence to mainland and the secret is not rev hidden from Customs also in on it.
The Z Halal is part of a wider food security Rort and has international Fabianism pulling the strings.