By Tony Ryan
Australia’s largest banking institutions are presently being exposed for their appalling behaviour. But will the The Royal Commission into the Banking and Finance Industry (established in December 2017) lead to a greater understanding as to the financial ills in Australia?
The Banking Royal Commission
If it is to cure Australia’s financial and investment regulation ills, the commissioner must recommend ALL key elements of the cure. This is what I propose:
- Firstly, as a matter of urgency, Parliament approve substantial prison sentences for offences above $1000, especially wherein victims were of low income or were otherwise relatively defenseless. Mandatory prosecutions must be applied or the entire regulatory exercise becomes futile. Fines are laughed at by the wealthy.
- Establishment of an Office of the Supreme Regulator, which ensures that the ACCC and ASIC and other finance and investment industry regulators do their job in a manner which meets the regularly surveyed expectations of the Australian people.
- Establishment of a People’s Bank, modeled on that which was the Commonwealth Bank before privatisation.
- Expulsion of the Rothschild’s Swiss-based Bank for International Settlements as the employer of staff of the Reserve Bank of Australia, including the position of Governor of the RBA. And, of course, transferal of the RBA to the new people’s bank.
- Separation of the UK’s Hill Simon Bank from Macquarie Bank and other similar piggy-back foreign investments.
- Expulsion of all foreign bank components of Australian banks and the introduction of mandatory shop-front statements of ownership.
- Scrapping of the current method of economic macro-analysis, which primarily recognises as criteria, only conditions for the wealthy — and subsequent adoption of a new model which primarily benchmarks the prosperity of the poorest Australians.
- Establishment of an independent commission which solely records the accurate status of employment, underemployment and unemployment of Australia’s workers.
Adoption of these reforms will ensure that finance, investment, and banking industries –and concomitant economic measuring devices, are conducted with accuracy and honesty.
Currently, this is not the case. The finance, investment, banking, superannuation, and conjoint insurance industries operate in what amounts to a judicial immunity bubble, wherein major crime is rampant. Politically enabling such lassitude is that all Australian economic and financial overview by government is seriously distorted by mythical unemployment figures. This is known by most Australians as “The Great Lie”.
Gross National Product (GNP), Grants and Royalties
In the days when we identified Gross National Product (GNP) we actually measured all economic activity, but NOT the internal economics of foreign corporations. And CPI, inflation (then a bad word, because it progressively undermined the value of all infrastructure and resources and incomes, and savings), plus average incomes (which in Australia had only a 3:1 differential), and so on.
Today we measure Gross National Product (GNP)… which ignores all domestic economic features.
With the un-mandated switch from manufacturing/jobs protection to free trade and market-generated management (an oxymoron), primary focus was on top incomes and the share market. Purported ‘average incomes’ are massively lifted by CEO’s and other massive incomes. This meant that the most socially-valued sector in the community is CEOs (who stripped assets and sacked workers), and shareholders (who produce nothing but increasingly siphon wealth into unproductive luxuries).
Meanwhile, the turnover of foreign corporations becomes the measurable economy.
Because of Howard’s Double Taxation Act, all corporations who pay tax in other countries do not have to pay tax in Australia. Thus they willingly pay peppercorn tax in rogue economic jurisdictions, which means they pay almost no tax anyway. When royalties are paid to the Australian Government (mining, gas, etc) these are offset against government’s exploration and development grants, which are invariably worth more than the royalties paid in.
An actuary calculated that corporate Australia pays 2% of tax revenue, the wealthy pay almost none, and that 97% of income tax revenue flows from wage and salary earners. Because 50% of workers pay no tax, or pay tax from part time jobs, government has lost half its revenue. More than half, actually, because wages growth has fallen behind. It is quite well-known that corporate welfare exceeds that paid to the poor and aged.
It has often been pointed out by competent business operators that economics is a phony science and is not even a social science because it ignores the role of humans altogether. The argument is that free trade will create full employment and optimum wealth. Practice demonstrates the exact opposite, which is why the real unemployment figures have been fudged by Centrelink (and not by the Bureau of Statistics as many believe).
Unsurprisingly, Australian and US unemployment is pretty much the same as that of Spain, Portugal, Italy, Ireland, and UK. In Australia, if you work, train, or study, for one hour per week you are classed as employed. If you are Aboriginal, you are on CDEP and therefore employed. If you are unemployed and attend job network agency resume courses, which are mandatory, you are employed. If you are a refugee, or immigrant, or illegal visa overstayer and you register for an English language course, you are employed. And so on.
Criminal Empires
This carefully constructed economic propaganda machine was the first vehicle upon which the vast criminal financial and economic misrepresentation network was established. Both the LNP and ALP desperately protect the ‘great lie’ because to do otherwise would be to admit that free trade has destroyed Australian manufacturing and, with it, the Australian economy.
This was first suspected by arch-editor Max Walsh, then editor of the highly respected Newsweek-Bulletin, which in 1999 surveyed the nation and found that unemployment even then was 23%. This rising trend was independently confirmed every three years from 2001… ( ref oziz4oziz.com/ ).
A few years ago, in an interview hurriedly shut down and denied by ABCTV, a demographer pointed out that one in four Australian workers has no job at all, and another one in four has only inadequate part time work.
Other independent researchers calculate that homelessness affects three million Australians. This is a far cry from the 300,000 claimed by Government, or the “Era of Unprecedented Prosperity” and 3.4% unemployment megahorned by John Howard.
The current 4.6% claim by the LNP’s Scott Morrison is an exercise in providing plausible variability to enhance the lie. If the Australian government actually represented the Australian people, instead of the wealthy and powerful and foreign-corporations — such a massive lie would attract decades-long prison sentences.
Such an aspiration is unrealistic in the current level of saturation political corruption but it will surely happen following sufficient emergence of people-power independents and political parties — and expulsion of the foreign Murdoch-led media duopoly.
Tony Ryan is a former journalist, government welfare officer, social researcher, business enterprise operator, and cross-cultural specialist and advisor. He currently assists in the redevelopment of an Arnhem Land Homeland and associated Aboriginal health restoration project.
Postscript:
My National Demographic Sample Survey
Every three years, from 2001, 3 months prior to federal elections, I have conducted national full demographic sample surveys, house to house, on a pre-designed demographic corridor. I select the most churned population in Australia, the 300,000 population Sunshine Coast. The accuracy is much greater than phone or random surveys. Gallop and other surveys are paid to falsify figures and to survey cherry-picked localities.
The Newsweek-Bulletin survey is easy for you to check, and went Australia-wide. My stats are on my hard drive, and are more conservative than Max Walsh’s.
Celebrity economist Steve Keen disputed my findings in 2008. And, following my suggestion, he actually did a door-to-door survey himself — and told me that I now had his attention. We agreed to do a joint survey three months later. But when he realised his media celebrity career would evaporate if he told the truth, he headed for the hills and has not been seen since.
you and virtually every commentator has got this so badly wrong you are playing into the hands of the banks.They have orchestrated this – they wrote the text book for the BRC who are following it to the letter. This whole thing pivots on two important dates, and two important events.The dates are 1818 and 1858 and the events occurred in 1936-7 and 1949. Understand that and your perspective will change.
Why are you being coy, Reynardvl, prithee why so coy?
where is the coyness? I merely wait for someone to understand and not get swayed by today’s Murdoch inspired headlines. The truth lies much deeper
We are not inspired by Murdoch one bit. So I don’t get your point. Our media articles are all about that.
while everyone is being so obtuse, Australian govt and banking revolves around the Unidroit treaty, our 2 birth certificates, dog latin and the vatican. Quite likely it harks back to the dates mentioned above..
And what about 1969?. And 1913. And 1892… the list goes on. Tony explains how the government “cooks” the books brilliantly.
http://www.themoneymasters.com/the-money-masters/famous-quotations-on-banking/
Justasample.
http://www.australiandebtclock.com.au/
Everything is connected to an earlier date. Hundreds of years. As regards to “playing up to the banks” — being sent to jail is not in their plan. [correction]
It all circles back to printing money out of thin air — and keeping the people from seeing that magic trick.
wrong – they have very well paid scapegoats
Of course they have their paid scapegoats. But they are doing everything to make the people not understand how money and debt creation works.
Thank goodness that somebody that understands figures and the true meaning of economy, who also is able to put the facts in layman language is willing to speak out. We have been lied to for decades. Many know it but are not able to explain the problems, or are not able to get hold of the real figures in the first place.
Dee, what do you mean being sent to jail is in their plan?
And by the way, I suppose it’s off topic but MB’s 51st birthday will be spent in the effing jail next Monday, May 7.
I was just referring to “substantial prison sentences” that Tony proposed. How many bankers went to jail in the 2008 crisis. I think zero or was it 1. Imagine if 5,000 landed up behind bars. Banking would be a different institution today — was my point.
The sad sack was a sittin’ on a block of stone
Way over in the corner weepin’ all alone.
The warden said, “Hey, buddy, don’t you be no square.
If you can’t find a partner use a wooden chair.”
Let’s rock, everybody, let’s rock.
Everybody in the whole cell block
Was dancin’ to the Jailhouse Rock.
Problem is that the very concept of prison is convoluted with what’s purportedly being opposed. In a functional society such offenders would be given the choice between living out the rest of their days in community service or setting themselves up from scratch in the Simpson Desert
“Imagine if 5,000 landed up behind bars.” – Imagine if they all went on a sea cruise, and the boat sank. Might save a lot of money in the long run…
Here’s what I think they should get.
Nice carpeting in their cells. A comfortable bed with pillows and blankets. No beatings, no poisoned food, and no frighteningly psychotic cellmates. Maybe a little curtain around the toilet.
Oh, and I forgot, disgorgement of ill-gotten gains. This is well established law in the Court of Equity.
Come on, diiiiiiiiissss-gorge!
Such a good write-up, covers so many issues. The last paragraph strikes a particularly telling note. Going door to door is probably the best means of counting the Forgotten/Invisible; well some of them at least
A culture geared toward setting oneself up nicely at someone else’s expense is obviously going to produce more “losers” than “winners” in so it’s really up to the former to break the mould. In order to cut loose you just need to stop thinking like a victim. There really is no other way of severing the primary energy source.
Total 100% ditto, Berry.
That’s a pretty good summary of some of the incidental criminal “flaws” of banking “enterprises” and the international big business connection. The fantastic “salaries” and perks of corporation’s lackeys is testament that a cunning and ruthless lack of social and moral integrity is very well rewarded indeed.
The corruption is well organised and systemic and not the least abhorrent of sacrificing an occasional “small fry” to delude the public that the “baddies” have been caught and taken out; but the corrupt system will remain intact. This will be the only result of the present Royal Commission unless there is an almost miraculous awakening of the commissioners.
One of the main ruses of banking and business to disguise the perfidy of the finance system is to encourage a silly, purely emotional aversion to “printing money”… or “money out of thin air”.
Well, surprise! ALL money is created out of thin air no matter what its token is. Money is not a natural resource. It is a Man made convenience to facilitate the exchange of goods and services. It is money simply by being accepted as a medium of exchange. The dirty Money Trick is the illusion that the only “legitimate” money is that which is created by banks as a debt to the economy.
Every government on Earth has the right (and duty) to provide debt free exchange medium (money) to facilitate the operations of its economy. (An economy is the production, distribution, exchange and consumption of goods and services; NOT the usurious ripping out of “profits”). In the present fraudulent system every financial profit is made out of someone else’s debt. There is no money that is not someone’s debt to the banks.
There are many ways that money can be supplied, as required, into a growing economy; and there are many ways that the money can be reduced if the economy is shrinking due to some catastrophe. But they are mere technicalities that will not arise until the international super-crooks are excluded and their treasonous domestic lackeys are exiled or executed.
Unfortunately, the problem is fundamental/systematic, and the system is rotten/corrupted to and at its core! Read investigative historian Eric Zuesse, on controlling the message/the media/the public/the world:
https://www.globalresearch.ca/how-facebook-etc-suppress-key-truths/5638698
Orrite, Kermit,
I know about that stuff. But I do not think that our Nation, or civilisation in general, is well served by supine, defeatist, submissive temporary convenience. The adversary is strong, organised, and practically ubiquitous in areas of influence, but they are relatively few and ordinary people are many although distracted and disorganised.
“I know about that stuff.” YOU may know about “that stuff”, but many others do not, and the comment was NOT directed to you alone/specifically! Zuesse himself is STILL discovering the scale, depth and pervasiveness of the dynamics involved. And there is nothing necessarily “supine, defeatist, submissive” about his (this) discovery. Numbers (few vs. many) are not necessarily the sole/critical factor in this situation. Consciousness, organisation, leadership, etc., etc., are also important. Not necessarily limited to what YOU do (or don’t) know. Orrite Oldavid?
My compliments, Kermit. A good parry and thrust.
Zuuesse can only discover a few recent incidentals as the fundamentals of the game have been in play for some hundreds of years.
The guts of it is, what are we going to do about it now?
The ability to properly distinguish between “incidentals” and “fundamentals” depends critically upon a good/convincing analytical/conceptual framework, which you DON’T provide. In its complete absence:
(a) You dismissively brush Zuesse aside as being focused on “a few recent incidentals”, while YOU obviously/undoubtedly KNOW and are focused on “the fundamentals of the game” (which you also DON’T identify). Is the emergence of the Internet, Facebook, Wikipedia, etc. (and the accompanying capacity to facilitate, manipulate, control information/communication/knowledge and impose total surveillance/dominance) merely “a few recent incidentals”?
(b) You also wrote earlier (see above), “ALL money is created out of thin air” (glibly dismissing the 5000+ year old role of precious metals), about the perfidy of govt. “printing money” out of thin air, and the bankers “dirty Money trick” of debt money. However, at present, printed (“paper”) money is only a small fraction of the total money supply, in the presence of a very large pool of electronic(cally created) “money”; and an even smaller fraction of the US$2 quadrillion (or more?) of market “derivatives”, in its influence/impact on national and global economic dynamics! And with the emergence of block chains, crypto-currencies, and the petroyuan vs. the endangered petrodollar , do we need a better appreciation/understanding of the recently changing (changed?) fundamentals and consequent dynamics relating to “money”?
(c) So, to repeat specifically, Question: What is your basis (conceptual framework) for distinguishing between “incidentals” vs. “fundamentals”? (“Recent” vs. “in play for some hundreds of years” are rather nebulous/weak/questionable distinctions in this context!)
I really don’t know what “we” are going to (will) do, but . . .
(a) Are YOU a good/great leader, communicator, organiser, educator, financier, investigator, crime fighter, or . . . (you recommended the need for it) executioner? If so, you have your answer! Just take note Oldavid, the last “executive option” is not legal in this day and place. But THAT you already know, don’t you?
(b) Finally, to repeat your gutful question, “what are we going to do about it now?”: I’m certain that you, like Lenin, are eager to expound YOUR vision/plan/strategy of what “we” are going to (should/must) do. So, don’t hold back now!
I’m very sorry, Kermit.
Yesterday I spent considerable time in a lengthy and detailed reply but it vanished into the cybersphere when I posted it. I have no idea whether it was Gumshoe editors that vanished it or some hacker from another censorship agency.
Anyhow, I was so annoyed and aggrieved that I had to console myself with a sloshing of home-brew.
Maybe I’ll have another go with more safeguards in place later, if this topic lasts that long.
It really makes me happy to read Kermit and Oldavid.
Fifteen years ago, I encountered perhaps a dozen people on the internet who grasped those realities; and only a few in Australia. Now this is a red hot topic of discussion by around a million Australians… in outbursts at smoko; at quiet lulls in the neighbour’s barbie; or spouse-to-spouse; but never in the media, or academia, or in think tanks.
The truly revolutionary emergence is recognition that our ultimate strength is People Power and this is what the investment banker alliance also know… and fear.
Consider this, fellas: the more we articulate our awareness on sites such as this, and whenever we can harangue a captive audience, we add to the critical mass that is slowly but surely building up in this country.
On Zuesse and his chosen conduit, GlobalResearch.com, I have never been able to get a word published on that site, or even a letter responded to. I rather suspect Michell Chovudosky is another Chomsky.
But maybe I’m just sour grapes LOL.
off topic-well not really
https://pedophilesdownunder.com/2018/05/02/nsw-victim-services-collaborate-with-nsw-police-to-bury-fiona-barnetts-vip-pedophile-case/
Well noted, Diane.
I rather suspect that poor Fiona and her unfortunately similarly mistreated friends are of the stuff that keeps mega-crooks compliant to their mega-bucks and positions of influence.
excellant article
Speeding is regarded as a crime these days and its not difficult rack up fines of thousands of dollars when driving along a freeway with a heavy foot causing no harm to anyone and when there is no victim to wheel into court.
So, why not make being knowingly concerned or should have known or should have had reasoanble suspicions that illegal practices were being engaged in with regard to customer accounts nd automatic 10 year sentence.
Also why not fine the CEO 50% of their annual income for incompetence in that they failed to ensure adequate oversight and auditing of banking processes relating to customer accounts.
If penalties are meant to cause everyone the same amount of pain, then fines need to be expressed as a percentage of either net wealth or the last 12 months income.
A thousand dollar fine can make many people homeless but for others its nothing more than a few weekend drinks from Murphys on a Friday night.
Tony ,
thank you for writing it as it is .
YouTube – ” The China Hustle ” 2017
I don`t think that sending people to jail will teach anyone a lesson just look at the soft,dumb non-sentences handed out at Leftie Labor Courtrooms at Southport and Melbourne
Come on, diiiissss-gorge.
Well, I don’t recommend gaol terms for perfidious traitors. Let’s keep our very expensive gaols for our sons and daughters in the hope of being able to return them to a decent respect for themselves, their neighbour, their Mother and Father in their culture and patrimony.
Perfidious traitors should be exiled (without any of their ill-gotten gains) to the foreign interests they serve or they should be executed as nasty parasites not suitable to be inflicted on any society.
Funny, that.
Oldavid supports the death penalty.
I support the death penalty.
Last time I looked, 70% of Australians supported the death penalty.
Those who oppose the death penalty never address the fundamental function of the death penalty… that it decisively prevents the perpetrator from reoffending.
Forty years ago, that was the prime function of judicial sentencing: Protection of the public.
Second, was Justice.
Third was Restitution.
Fourth, was rehabilitation, but only after the first three elements were satisfied.
Suddenly, the entire purpose of the Courts is rehabilitation. How do you rehabilitate a ComBank CEO who decimates branches, sacks umpteen thousands, and steals billions from customers.
How do you rehabilitate politicians who send young Australians off to die in a war based on a calculated lie.
How do you rehabilitate medical doctors who repress information which proves much medical intervention is either unnecessary, or is counter-productive, or does not work, or is the profitable alternative to treatments which do work but are unprofitable?
I could chant a litany of crimes which, in my opinion deserve the death penalty.
I will be perfectly happy to go along with the majority decisions of my fellow Australians, but I will never accept the corrupt lawmaking of the criminals elected protectors.
Tony, I have much to say on many of these topics that no editor considers publishable.
Contact me at: dmkzmarwick@bigpond.com and I’ll send some for your consideration.
As the banking/taxes/unemployment system is naught but a manifestation of a winner/loser, saint/sinner RELIGION I’m convinced that defusement is the only way to go.
I realise that Queen Jezabel was pushed out of an upper-story window and that her remains were eaten by the dogs in the street below, but the idea that Netanyahu could be dealt with like so is just plain woo-woo and such measures wouldn’t leave a scratch on the core issue in any case.
I realise that the death penalty might well put the brakes on the likes of Avery & Mullen but no one can turn back the clock. The challenge of the Age is getting a grip on the fact that such individuals are squeamish wimps, that when push comes to shove there’s a complete absence of any courage or conviction.
Re: death penalty —— Tony Ryan:
“Oldavid supports the death penalty.
I support the death penalty.
Last time I looked, 70% of Australians supported the death penalty.”
I’m agnostic (willing to debate different views/perspectives) on this point. But you do realise, don’t you, that with its presence/retention/reintroduction, Martin Bryant, and many other possible innocents (framed patsies) would be (would have been/indeed, HAVE been) conveniently “dispatched”!
Is NUMBERS (popular/majority vote) the critical factor??? If not . . . ???
I have only recommended execution for perfidious traitors duly convicted. I do NOT recommend execution for patsies “convicted” by the traitors or the media.
Oldavid, Oldavid . . .
You can “recommend” whatever you like! But when the option is there, “they” can/will use it as THEY please/choose. Then, what are you going to do about THAT???
“Expensive jails” ? Don’t you realise that snuffing crims is a much bigger racket ?
Kermit, I am aware that my opinions or recommendations have no practical effect in this matter.
Apologies.
In my article at Gumshoe that quotes Elias Davidsson and Craig McKee (the article with the picture of King Kong — meant to indicate that the baddies don’t get punished), I gave the bio of a different Craig McKee. This will be corrected soon, just wanted to alert any reader who thinks it was the news anchor Craig or the plumber Craig that had those helpful thoughts about 9-11.
No, it was the Craig McKee who is the creator of the website Truth and Shadows that deals with 9-11 and other Deep State matters. See:
https://truthandshadows.wordpress.com