Category Archives: cattle
The federal Member for Kennedy Bob Katter on June 25 introduced a private member’s bill into the Australian Parliament to protect the economy and bank customers from dangerous financial speculation and predatory banking.
The Banking System Reform (Separation of Banks) Bill 2018 is based on the USA’s successful Glass-Steagall Act. It will separate Australia’s commercial banks, which hold deposits, from risky investment banking, as well as other financial services that Australia’s banks have acquired in recent decades, including insurance, superannuation, wealth management, and stock broking.
The ongoing Financial Services Royal Commission, which Bob Katter led the political fight to establish, has laid bare the predatory banking practices that the bill will end. The revelations from the royal commission have been so dramatic that it has attracted global attention, and kindled fear in the City of London that Australia’s inquiry could lead to a renewed push to break up Britain’s too-big-to-fail banks.
Katter excoriated Australian banking in a passionate speech introducing his bill. “The situation in Australia is ugly and it is evil”, he said, “and this legislation is needed to overcome those problems and what effectively it says is—‘Mr Banks you are no longer out there in the market, in the arena buying and selling. Your job is to loan to people that buy and sell, develop and invest. You don’t do that, you judge them.’”
Aside from the conflicts of interests in banking, Katter’s chief concern in moving Glass-Steagall is for the looming financial crisis arising from the banks’ speculation in real estate and derivatives. He identified the reckless speculation threatening the financial system today was also the cause of the 1929 crash, which led to the passage of the Glass-Steagall Act in 1933.
“What we’re talking about here is derivatives: when you don’t buy a loaf of bread; you buy a contract to buy a loaf of bread”, he said. “That is what we call a derivative.
“Glass-Steagall came in and it overcame the vast bulk of those problems so that the American economy ran fairly effectively, making it three, four, five times the size of any other economy on earth, until Mr Bill Clinton, ‘Mr Free Markets’ himself. … In 1999, he abolished the Glass-Steagall Act. Within two years, the dot-com collapse occurred, taking down trillions of dollars of savings, superannuation and retirement moneys of Americans and the rest of the world, and in 2008, as we’re all familiar with, came the GFC.
“Clearly, that timeline indicates the necessity for Glass-Steagall legislation in this place.”
The most immediate danger for Australia, Katter emphasised, is from the bubble in the real estate market.
“The housing boom in Australia today—does anyone seriously think that we are not sitting on the brink of disaster?” he warned. “A quarter of Australia’s population, maybe a third, live in Newcastle, Sydney and Wollongong. The average price of a house is over $800,000. That means that 50 per cent of the houses are over that value. Yet the average income for an Australian after tax is about 50 grand a year [$50,000]. So how are they going to make the repayments on a house? And yet they’re buying houses. The banks are financing them. The banks make money when you go broke and they sell the house out from under you. They don’t lose money; they make money out of what has occurred. They should be held responsible.
“I would love to be in a business that is guaranteed by the government”, he continued. “If I buy a corner store and I know that, if I go broke, the government’s going to give me the money, everyone will be buying corner stores in Australia. They are given this, but there is no responsibility placed upon their shoulders to act in a prudential manner.”
Katter singled out the team of people responsible for organising the bill, including Robert Barwick, Dr Wilson Sy, and Bob Butler. Sy is the former principal researcher at bank regulator APRA (Australian Prudential Regulation Authority). Barwick and Butler are representatives of the Citizens Electoral Council, which has led a nine-year campaign to get Glass-Steagall legislation enacted in Australia.
It is significant that on the same day as Bob Katter introduced his bill, Australia’s biggest bank CBA announced it was demerging from its wealth management businesses, as if to send the message that Glass-Steagall legislation is unnecessary because the banks are doing it voluntarily. On closer examination, however, CBA is not completely demerging from other services, and along with the other big banks it is continuing to speculate in dangerous derivatives and other forms of financial gambling. Only a strict Glass-Steagall law will end these practices, which is the intention of the Katter bill.
As a private member’s bill, Katter’s Separation of Banks Bill 2018 will only be debated if a majority of members of parliament agree to do so, which will require the support of one or the other major party. Ordinarily, the governing Liberal Party would be expected to protect the banks, but many Liberal politicians are shocked by the revelations of the royal commission and are concerned about a financial crash. And what about the Labor Party—will it block or delay Glass-Steagall the way it blocked the banking royal commission for six years, or return to its roots as champions of working people against the Money Power? It will be up to the Australian people to demand the major parties stop protecting the banks, and allow a debate and vote on Glass-Steagall.
A reader has offered a reward for the identities of the rats who dobbed in the croc shooter. Cairnsnews suggests Mr Orchard should not pay this extortion to a Marxist government which places animal lives ahead of humans.
KAP State Leader and member for Traeger Robbie Katter has pledged to make the first donation to the Go Fund Me page of the Rockhampton man fined $10,000 for shooting a crocodile.
Today in Rockhampton Court, Luke Orchard was handed a $10,000 fine by Magistrate Jeffery Clarke but had not conviction recorded over the shooting of a monster crocodile near Rockhampton last year.
Mr Katter spoke to Mr Orchard’s father Phil, this afternoon reaffirming the KAP’s commitment to put people before crocs in Queensland while also pledging to support the Go Fund Me page out of his…..
“We remain committed to creating safer waterways for Queenslanders,’’ Mr Katter said.
“People have been crying out for help to deal with the expanding crocodile problem. Unfortunately, as a result people are forced to take desperate measures to ensure the safety of themselves and their family and to protect their livelihood.
“This is what happens when the Government doesn’t act.’’
Phil Orchard said his son had been shaken up by the incident and was very remorseful.
“I agree with the Katter’s Australian Party in that some sort of crocodile control should be introduced, not necessarily culling, but something to manage the numbers,’’ Phil Orchard said.
“My son and I go out every day and count the calves, we know we are losing lots of calves to the crocs every year. We see the cows pacing along the river bank bellowing and looking for their calves which have been taken.’’
KAP Member for Hill Shane Knuth, who introduced the Safer Waterways Bill into the previous Queensland Parliament, said he would reintroduce the Bill during the current Parliament.
“It’s disappointing that people feel that the government is doing nothing and frustrating them to a point they are taking matters into their own hands,’’ Mr Knuth said.
“This is state-wide issue and as such should be dealt with by the Queensland Labor Government. We don’t need another study, people want our waterways safe now.’’
The never-ending battles of the Coral Sea
by Viv Forbes, science writer
For at least 50 years Australian taxpayers and other innocents have supported a parasitic industry in academia, bureaucracy, law, media and the tax-exempt Green Alarm “Charities”, all studying, regulating, inspecting and writing about yet another “imminent threat to Queensland’s Great Barrier Reef.”
The Queensland Labor Party Government is about to embark on another reef-runoff onslaught against coastal farmers that is intended to close down farming along the entire coastline, from Cooktown to Brisbane.
It has become the never-ending battle of the Coral Sea.
The threats change, but there is always a doomsday forecast – Crown-of-Thorns, oil drilling, fishing, cane farming, coastal shipping, global warming, ocean acidity, coral bleaching, port dredging, chemical and fertiliser runoff, coal transport, river sediments, loss of world heritage status etc. Every recycled scare, magnified by the media and parroted by politicians, generates more income for the alarm industry, usually at the expense of taxpayers, consumers or local industries.
The reality is that sea creatures would starve in pure water – all marine life needs nutrients, salts and minerals. These come from other life forms, from decomposing rocks and organic matter carried to the sea by rivers, from dissolving atmospheric gases, or from delta and shelf sediments stirred up by floods, cyclones, dredging or coastal shipping. No one supports over-use of toxic man-made chemicals, but well-run cane, cattle and coal companies can co-exist with corals.
Corals first appeared 500 million years ago and have proven to be one of Earth’s great survivors. They outlasted the Carboniferous Forests, the Permian and Cretaceous extinctions, the dinosaurs, the mammoths, the Neanderthals and the Pleistocene cycles of ice age and warming. They thrive in warm tropical water, cluster around hot volcanic fumaroles and survive massive petroleum spills, natural oil seeps, tidal waves and volcanic dust. They have even recolonised the Montebello Island waters devastated by atomic bomb testing in the 1950’s.
The ENSO oscillation of blobs of warm Pacific water which caused recent coral bleaching can be identified in historical records for at least 400 years. Corals have survived El Nino warmings for thousands of years and they will probably outlast Homo Alarmism as Earth proceeds into the next glacial epoch.
See the Supercorals:
Corals do not rely on computer models of global temperature to advise them – they read the sea level thermometer which falls and rises as the great ice sheets come and go.
In the warming phase like the one just ending, ice melts, sea levels rise and the reef that houses the corals may get drowned. Corals have two choices – build their reef higher or just float south/inshore and build a new reef (like the Great Barrier Reef) in shallower, cooler water. When islands sink beneath rising oceans, corals may build their own coral atolls as fast as the water rises.
Then when the cold era returns, ice sheets grow, sea levels fall, and the warm era coral reefs get stranded on the new beaches and coastal plains. Usually the process is slow enough to allow the coral polyps to float into deeper warmer water closer to the equator and build another reef.
This eminently sensible policy of “move when you have to” has proved a successful survival policy for the corals for 500 million years.
Humans should copy the corals – “forget the computer climate models but watch real data like actual sea levels and . . . move when you have to.
Cowards with guns shoot defenceless cattle and horses
Cattle and horse stealing have been plaguing long-time grazier, landowner and renowned horseman Geoff Guest OAM who runs Petford Farm along the Petford Irvinebank Road, 33 klm west of Dimbulah.
A month ago two cows were shot in the driveway of his homestead, situated some 60 metres from the road.
About the same time three horses were shot, wounded and left to die in his paddock. Helicopters buzz the property regularly, which Mr Guest, 90, believes are looking for his cattle and horses.
Some time ago Mr Guest was monitoring on his two way radio, illegal night time mustering by thieves with cattle dogs.
“I heard them on the radio talking about catching cattle. It was very clear so they must have been quite close,” Mr Guest said.
“Judging from their conversation they were catching my branded and unbranded weaners and loading them on a small truck then taking them somewhere close to be killed and then selling the meat.
“Fortunately I was able to record most of their conversations on my phone and I have given all this information and a bit more I have been told to a private investigator.
“Today a helicopter flew up Emu Creek and over the paddocks looking for my cattle and horses, but I now have a warning system in place that alerts some local people that illegal mustering is going on, and they can be on the property in a short time to deal with it.
“I have legal people assisting my group who will get these people into court real quickly.
“When they shot the cows one night they were in a direct line with the house and bullets could have easily hit the place.
“I got one of my military supporters to recover the projectiles from the dead cows and he sent them off for ballistic testing.”