TREASURY BANK FRAUD
READERS REQUEST FURTHER INFORMATION
Should Private Banks Issue and Control The National Currency?
The 'generous' support of the taxpayer of the banking system, some $30 Billion annually since 1987, is a scandal which has remained well hidden from the public eye, with the connivance of the media, TREASURY, and our parliamentary representatives. The subject is taboo!
Since 1987 the amount of money in circulation in Australia has increased steadily from year to year by some $30 Billion dollars. The process by which such NEW MONEY comes into circulation has been a matter of contention for centuries. In simple terms the new money comes into circulation through the banking system, issued as a debt to the banking system.
NOTE: This NEW MONEY is 'Australian' currency, but the banks lay claim to 'owning' it, when in fact it is Australian currency issued by private banks. The private banks lend this new money to borrowers at exorbitant interest rates and charges. Little wonder then that BANK ASSETS leapt to $400 Billion plus since 1987.
Additions of S30Billion New Australian currency credited each year to the accounts of private banks contributed some $270 Billion to Bank Asset Growth, since 1987. The banks' earnings of "superprofits" due to the exorbitant rates and charges made on their customers come on top of this taxpayer 'assistance'. In reality it is extortion!
Should National Governments Issue and Control The National Currency?
As a matter of fact, this is what is commonly believed to be the actual situation - the National Government issues and controls the National Currency. In fact, this is a delusional belief, the Government Mint only prints and coins a small portion of' the national currency - somewhere in the order of 4% or less of the total amount of money in circulation. Most people prefer to pay by cheques and plastic bank cards, which do not wear holes in pockets, and in this way our money is protected from loss and theft.
Ensuring Developmental Growth
In principle, it is quite advantageous for Governments to control the issue of the new money. The annual $30 Billion additions to the money supply deemed to be necessary, could then come into circulation through Government Notes in payment for public works. The implication being that each year Government would be providing $30 Billion worth of infrastructure and services to the public, which otherwise has to come out of the scarce 'pay as you earn' and sales tax dollars. So why does Government 'give' this new money to the banks?
This new money could come into circulation as a productive credit to the nation. and not as a very expensive debt to the banks.
There Are Other Advantages As Well
When elected Government issues the new money to pay for development infrastructure, the paper issued is backed by physical productive assets - Water Storages, Canals, Pipelines, Flood Mitigation Works, Sewage Treatment and Disposal, Roads, Disease Prevention, Hospitals, Education, Fast Rail Transport, High Technology Research, Nuclear Power ... Since all this infrastructure is productive, there may not be any need to repay the money, or to pay interest on the money! (within the limits of available material, technology, and labor).
Let us be clear about one thing, the banks certainly do not repay or pay interest to the Commonwealth for the Australian Currency which has appeared in their accounts "out of thin air".
*** Perhaps we should point out that at present there is NO assurance that the expansion of the money supply is backed by physical productive assets. More than likely it is being diverted in 'paper gambles'. Section 51 of the Constitution mandates Government to direct Public Credit for the purpose of peace, order and good government. The Government in allowing the banks to conduct a monetary war upon the people, producing chaos, is clearly BAD & UN-constitutional government.
In A True Democracy ...
But there is another advantage when Elected Government issues the new money, it can be mandated by the electorate to be invested in physical productive assets and to be allocated under the scrutiny of Parliament and the Auditor General.
Contrast this with the practice of private banks
First of all, (apart from the fraudulent production of debt), high hank interest rates and charges produce bankruptcies. It is physically impossible* to repay a loan as well as pay the interest if only the principal is issued, but not the interest and the charges. This is in fact what happens when bankruptcies occur, the interest is repaid in physical assets. The house, the land, the farm, the factory ... *It has been frequently pointed out that debt of the world exceeds the total amount of money to repay the debt, and that is a result issuing funds to pay the interest. And the interest keep accruing at Financial Arithmetical Irrationality!
Secondly, charging interest on loans is in principle inflationary. The higher the interest rates and charges on the new money the higher the inflationary pressures in the economy.
Thirdly, morality and sustainability. These are intimately connected. The banks will chase the 'highest returns' on 'money'. In other terms, they are more likely to lend the money out for speculative ventures involving takeovers of valuable productive assets for short term high profits, which drives up share prices, but leaves the factory 'in tatters'.
Private banks will be more likely to direct funds to high yield 'investments' - industrial plant takeover for "asset stripping", share price manipulations, development of factories in low wage countries, franchises., ventures in 'entertainment', casinos, racetracks, pornography, whore houses, drug plantations, than to direct funds in dependable productive enterprise, farming, steel production, national manufacturing, which requires inputs of long term, low interest rates to be viable. In the Long run deregulated banks will cut their own throats, for the host upon which they prey will shrivel and die. The deregulated banks have become parasites and must eventually die with the host - the economy. Economic Irrationalism which economists call "economic rationalism"
Take Our Gold & Silver, Or We Will Give You The Lead!
Look at the list of shareholders of the 'private' major (the big four) banks, and you will find the money trail leads to the "international financial community".
Why is it that Governments subject themselves to the 'private' banks? Look at the list of assassinations of national leaders who sought to make the nation independent from "global finance". From Alexander Hamilton, the first US Treasury Secretary (1789-1795), through Abe Lincoln, Kennedy, Enrico Mattei, Aldo Moro, Bhutto, Al Huq, Olaf Palme, Uwe Barschel, Alfred Herrhausen, Rohwedder, Yitzhak Rabin, to the intimidatory British Television 'Advertisement' featuring a rifle scope cross-hairs on a President Chirac of France look-alike. For a while it seemed as if Chirac was going to expand the French economy, give in to pressure produced by the mass demonstration against Maastricht conditionalities. Shortly after the British Government withdrew (banned) the Video, Chirac was called to the 'City' for 're-adjustment'. Chirac appears to follow the commands of the 'City'. It is much easier watching your investments grow, then to have to worry about assassination attempts. De Gaulle with 32, and Bill Clinton has already clocked up 16. Then there was the assassination attempt on President Reagan at the time when he showed signs of asserting himself in the national interest. The nearly successful assassination attempt which followed, convinced Reagan that he should "play more golf" and hand over to the Vice-President George Bush. Under Bush the American debt rose to $3Trillion and is now on "auto-pilot".
The above should give some insight into why the Australian Government subsidizes Private Banks to the extent of some $30 Billion annually, and allows the banks to drain the economy to virtual collapse.
*** Private banking and credit institutions must be audited to determine to what extent they have engaged in the illegitimate practice of self-lending, investing deposits in their own stock transactions, and other such fraudulent activities.
New currency issues should not be used to pay operating costs of the national government nor of state and local governments.
IMF Forecast Banking Crash
Michel Camdessus, representing the International Monetary Fund, at the G-7 conference recently held in Lyon, forecast that the "next intonational crisis will be banking".
The "Q Ratio" Supports The IMF Forecast
Yale economist James Tobin won a Nobel Prize for his work on the "Q ratio". The Q ratio is the proportional relationship between the total value of US stocks and bonds, and the replacement cost of the physical assets of all US corporations. Normally the total value of stocks is about 70% of the replacement costs. Today, however, the total financial value of stocks and bonds is almost (200%) double the replacement cost of the assets they represent. This implies that the Q ratio is almost 300% of what it should be!
Is The Stock Market More Over-Valued Than In 1929?
In the 1929 Depression the banks closed! We can prevent this from happening. Australia, the Nation, contains on the word of Mr. Wolfensohn, the Chief of the World Bank, some $20 Trillion of physical assets, and untold developmental potential of its resources. No financial institution in the world can match such wealth of asset backing.
Draft Emergency Legislation (Abbreviated)
Full text available on request.
Enabling Australia to Reactivate the National Economy independently of the disintegration of the world financial system, for which there appears to be no solution.
Within 48 to 72 hours following the onset of definitive disintegration, classical measures of bankruptcy should be put into effect for the totality of the world financial and monetary system. Australia should resort to the same type of reorganization.
Such reorganization must include intellectual and programmatic preconditions which will permit the adoption of the relevant measures of economic, financial, and monetary reorganization.
1. Participation of the National Government in the Reactivation of World Economy.
2. Domestic Monetary Reform.
3. Reserve Bank to Serve as a National Bank, under the Executive, under scrutiny of Parliament. Private banks to be audited for illegal practices.
4. A 21st Century Australia. National finance for basic economic infrastructure.
The funding must be directed solely into the construction and modernization of facilities and equipment for rail, road, water and air transport; for power generation and distribution; for water control, treatment, and distribution, including irrigation facilities; and for communications.
Trade and Tariffs.
Government must intervene to prevent gross excesses in the form of speculation, exploitation, and usury, and to ensure the overall productive orientation of the economy. The trade of essential goods, such as food, raw materials, and basic equipment at prices international and domestic trade relations.
6. Tax Policy.
The proper function of a taxation system is not only to collect revenue needed for the functioning of government. The proper function of government is also to encourage those activities which benefit the general welfare of the nation, at the same time that those that are provably harmful are discouraged.
The most effective method of increasing wealth of the nation is to foster the increase of capital intensive, technologically progressive employment of the work force.
Tax advantages must be granted for income and profits which are reinvested in the indicated productive manner. High taxes must be imposed on speculative and purely parasitical forms of income.
The means are available to Government to achieve sufficiency and progress in Australia's manufactures and agriculture. The goal must be to save at all cost, national production from sure suicide, through the application of IMF policies.
Our commitment is to awaken the community of interests of all Australians, which are those which produce national vitality. we must not engage in sterile protest, not revolts, not insurrections. The people of Australia by divine, natural, and international law, have the right to be free from usury.
1. Private Banks Issue & Control The National Currency.
a. This is also referred to as MONEY or CREDIT 'CREATION' by the BANKS.
b. Since 1987 the a money in circulation in Australia has increased steadily from year to year by some $30 Billion dollars. NEW MONEY comes into circulation through the banking system, issued as a debt to the banking system.
c. This NEW MONEY is 'Australian' currency, the banks lay claim to 'owning' it.
d. The Banks lend this new money to borrowers at exorbitant interest rates and charges, and "inflate" the amount of money in circulation
e. Little wonder then that BANK ASSETS leapt to $400 Billion plus since 1987. Such 'currency' credited each year to the accounts of private banks contributed some $270 Billion to Bank Asset Growth, since 1987. In reality it is extortion!
2. National Governments Should Issue & Control The National Currency
a. This is what is commonly believed to be the actual situation: the National Government issues and controls the national Currency.
b. This is a delusion, the Government Mint only prints and coins the national currency - somewhere in the order of 4% or less of the total amount of money in circulation.
c. Transactions by cheques and plastic bank cards are preferred, since this money is light in the pocket and protected from loss and theft.
3. Government Should Ensure Developmental Growth.
a. The annual $30 Billion additions to the money supply deemed to be necessary, should come into circulation through Government Notes in payment for public works.
b. Government would be providing $30 Billion worth of infrastructure and essential services.
c. It would amount to a 30% reduction in 'pay as you earn' and sales tax dollars.
4. Other Advantages
a. Government which issues New Money to pay for development of infrastructure, ensures paper issued is backed by physical productive assets.
b. There may not be any need to repay the money, or to pay interest on the money! Government Paper provided Productive Assets!
The banks do not repay or pay interest to the Commonwealth for the Australian Currency which has appeared in their accounts "out of thin air"!
c. Section 51:iv of the Constitution, directs Government to use Public Credit for the peace, order, and good government. The monetary war upon the people by the banks produces chaos, and bad & UN-constitutitonal government.
d. In A True Democracy elected Government issues the new money. It is mandated to be invested in physical productive assets and to be allocated under the scrutiny of Parliament and the Auditor General.
5. The Practice Of Private Banks.
a. The production of fraudulent debt, and
b. bankruptcies high bank interest rates and charges.
c. Only the principal is issued, but not the interest and the charges.
d. Interest and charges can only be repaid in physical assets.
e. The total debt of the world exceeds the total amount of money in circulation. I.e. it is impossible to repay the debt when the banks issue the national currencies as a debt to the banks. And the interest keeps accruing! This is Financial Arithmetical Irrationality!
f. Charging interest on loans of New Money is in principle the main cause of inflationary pressures in the ecomomy. The Banks Inflate The Money Supply!
g. Morality and sustainability. The banks will chase the 'highest returns' on 'money', i.e. speculative ventures irrespective of corrupting society and bleeding the economy to death.
h. De-regulated banks will self-destruct. In the long run deregulated banks will cut their own throats, for the host upon which they prey will shrivel and die. The deregulated banks have become parasites and must eventually die with the host - the economy. This Economic Irrationalism is what "economists" call "economic rationalism".
6. Take Our Gold & Silver, Or We Will Give You The Lead!
a. The shareholdings of the 'private' major banks, reveals the connections to the "international financial community".
b. Governments subject them selves to the 'private' banks out of fear. 200 years of assassinations and attempts by "global finance" of national leaders makes this clear. (Charles De Gaulle with 32 attempts, and Bill Clinton has already clocked up 16).
c. President Reagan's almost successful assassination was followed by an explosion of US debt to $3Trillion.
7. Banks Control Media &Terrorism, Media & Terrorism Control Government
The Media ensures that the Electorate remains ignorant of the control by the "international financial community" of financial fraud, economic crime and the terrorism. The Australian Government under control of the media, and intimidated by the history of assassinations of 'interventionist' leaders subsidizes Private Banks to the extent of some $30 Billion annually, and allows the banks to drain the economy to virtual collapse.
It Is Up To You!
It is up to the electorate to break their reliance on the top down centralized main stream political parties and on the diversions produced in the media.
Produce The Shift In Public Opinion!
Such a shift in public opinion can be achieved by a small and dedicated group of independent individuals, armed with photocopiers and prepared to 'letterbox' information, such as this, to promote public awareness and discussion. wandjl05.htm
.../Back to Contents
Direct all enquiries to: Perspective, PO BOX 9 DELEGATE NSW Australia 2633. PH/FX: (61)-064-580-256.