Category Archives: Liberal Party of Australia
Why would a government chartered by the constitution to protect the people be so reluctant for a Royal Commission into Australian banking when overwhelming public evidence suggests a pungent smell of endemic criminal corruption is abundant, reflecting a vested political interest.
You may find the attached paper of interest.
We thank Betty Luks of Australian League of Rights for presenting this paper to sosnews for our readers to review. The International Review of Financial Analysis published by Elsevier Inc was invited to present a submission to the Iceland government in the aftermath of the banking collapses in 2008.
The big four taxpayer protected banks have developed their unchallenged rule book void of all serious accountability and shrouded in government protection that now rides on shaky ground.
There is escalating support in the upper house to investigate banks with extremely wide terms of reference reporting back to the parliament, not the Executive. This does not apply to a Royal Commission which is implemented by the Cabinet which can appoint allied commissioners and terms of reference, which is then reviewed from behind closed doors of the executive alleviating any input from the people’s parliament.
Harry Palmer, Editor
International Review of Financial Analysis Introduction
Thanks to the recent banking crises interest has grown in banks and how they operate.
In the past, the empirical and institutional market micro-structure of the operation of banks had not been a primary focus for investigations by researchers, which is why they are not well covered in the literature.
One neglected detail is the banks’ function as the creators and allocators of about 97% of the money supply (Werner, 1997, 2005), which has recently attracted attention (Bank of England, 2014a,b; Werner, 2014b,c).
It is the purpose of this paper International Review of Financial Analysis published by Elsevier Inc to investigate precisely how banks create money, and why or whether companies cannot do the same.
Since the implementation of banking operations takes place within a corporate accounting framework, this paper is based upon a comparative accounting analysis perspective. By breaking the accounting treatment of lending into two steps, the difference in the accounting operation by bank and non-bank corporations can be isolated.
As a result, it can be established precisely why banks are different and what it is that makes them different: They are exempted from the Client Money Rules and thus, unlike other firms, do not have to segregate client money. This enables banks to classify their accounts payable liabilities arising from bank loan contracts as a different type of liability called ‘customer deposits’.
The finding is important for many reasons, including for modelling the banking sector accurately in economic models, bank regulation and also for monetary reform proposals that aim at taking away the privilege of money creation from banks.
The paper thus adds to the growing literature on the institutional details and market micro-structure of our financial and monetary system, and in particular offers a new contribution to the literature on ‘what makes banks different’, from an accounting and regulatory perspective, solving the puzzle of why banks combine lending and deposit-taking operations under one roof.
Click on picture to download/read the document
Race-hate speech laws must be changed so people can ‘call out’ Muslim terrorists, perverts and child mutilators, a One Nation senator has told parliament. Malcolm Roberts says Australian Islamists are the real beneficiaries of section 18C of the Racial Discrimination Act, comparing restrictions on race-hate speech to ‘Stalinist repression.
If your Muslim Sudanese neighbour is engaging in female genital mutilation or your Syrian Muslim cafe owner is a terrorist building a bomb or maybe just the Afghan Muslims in the public housing flat next to you are molesting small children, chances are that you are afraid to speak out,’ he said.’Ordinary, decent people are simply afraid to speak the truth.
LNP VOTE WITH LABOR TO KILL RURAL DEBT REFORM
State Member for Mount Isa Robbie Katter has slammed the LNP for supporting Labor to vote against a real solution to address rural debt.
In a parliamentary session that went into the early hours of Wednesday morning the KAP’s Rural and Regional Adjustment (Development Assistance) Amendment Bill was denied a vote in the House through the blocking of a motion put forward by Robbie Katter.
“The motion was put forward to enable the Parliament to adequately consider and vote on a solution that would’ve seen a new lending mechanism established to address the shortcomings in QRAA’s current activities”
“Each member of the crossbench voted to allow the motion to be heard but it was the major parties who didn’t allow it. It’s unbelievable that they would so blatantly work together to stifle a minor party Bill.”
“With so much public disappointment in partisan politics it’s ironic that the only thing the major parties can agree on is limiting consideration of minor party Bills”
Mr Katter highlighted the amount of consultation and analysis that went into the KAP’s Bill and expressed his disappointment at the behaviour of the major parties.
“The LNP not only supported Labor’s Bill over the KAP alternative, they actively worked to restrict debate and consideration of the KAP Bill”
“The LNP and Government used every excuse in the book to avoid undertaking a difficult reform. They even used banking regulations as an excuse. Do they forget where here to change laws and regulations? If I told my constituents that I wasn’t prepared to undertake legislative reform because of a regulation I wouldn’t deserve to represent them”
“For me, the genesis of this Bill was during the term of the Newman Government, which shows that this has taken years of stakeholder discussions, industry forums, community and local leader’s input,” Mr Katter said.
“Through the Rural Debt and Drought Taskforce that I chaired in this parliament it was clear that the debt problem is massive and that a significant response from the Government was required to address it”
“However what the Parliament has achieved is an ambulance at the bottom of the cliff. A farm debt mediation mechanism doesn’t solve the debt problem it just ensures that when the problem has finally caught up with a producer they can shut their business efficiently”
KAP’s legislation was designed to address not only the cattle industry, but also the viability of our rural towns.
“We need ways of stimulating the economies of the rural towns that rely on agriculture. Rather than using blunt funding programs to create short term employment, why not invest in reconstructing the core industry so longer term organic growth can be delivered”
Mr Katter expressed disappointment at the Government and Opposition’s “hands-off” approach to supporting a key Queensland industry.
“In 2015, I thought the Palaszczuk Government was serious about identifying solutions to address rural debt issues with the formation of a Rural Debt and Drought Taskforce. I was wrong. Just like the Opposition they prefer to leave it to the “market”. This approach has delivered a declining sugar industry, a decimated dairy industry and some of the most expensive gas and electricity in the world.”
“Government’s “intervene” in markets all the time. Between the Clean Energy Finance Corporation and the Australian Renewable Energy Agency there’s about $5 billion worth of low interest loans to help stimulate the industry. However when it comes to supporting agriculture, and particularly family enterprises, the Government doesn’t want to touch it”.
“The rural community right throughout the State should be angry that a significant proposal to benefit people doing it tough and earning a living in regional Queensland would be stymied and watered down by both major parties.”
Culleton forces HCA to restore the wrong Queen in court process, resulting in its bench closing ranks on Culleton and refusing to hear his arguments about nullified charges in a NSW court involving the disappearance of a $7.50 car key
The continual denial of natural justice in Australia is a direct result of political appointments to the bench
a dissertation by law analyst Peter Gargan
The Restoration of the Queen and all She stands for in the law, must be a priority for every West Australian voter this election because:
The Queen by Her Coronation Oath represents peace, order and good government as the Corporate Parliament of the Commonwealth has tried to legislate since 1986, but after the Australia Act 1986, The Parliament of Western Australia has legislated to remove all safeguards for private property, all freedoms of travel except other than that they approve, and tax, legislated to imprison people without fair trials, and not one Judge or Magistrate in Australia has ever said this is wrong.
Because all WA Judges and Magistrates are supposed to represent the Queen but now only represent the State of Western Australia and its people, they are repudiating the Australian Constitution. Consequently the entire Commonwealth Parliament is absolutely useless to the people of Western Australia because the Judges and Magistrates are treating the work of the Commonwealth politicians as a joke.
When Rodney Norman Culleton asked why the Queen was removed from the High Court the republican lawyers as Judges and Magistrates set out to get him. They put the Queen back in, but only the Queen of Australia not the one who represented peace order and good government from 1900 to 1973.
Your hip pocket is paying all the time for this new regime. Every time a Sheriff attempts to have a Judgment executed or take away your licence to drive, unless you pay the fines they have in the Fines Registry, they are breaking the Laws of the Commonwealth. By levying fines without first taking you to a proper Ch III Constitution Court they are breaking S 43 Crimes Act 1914 (Cth) and should be paying you, instead of attempting to steal your property. The penalty for that is ten years jail. It should mean the State of Western Australia pays you, $540,000 in liquidated damages every time a Sheriff tries to steal a car for unpaid fines. The Sheriff himself should pay $108,000 and so should every Police Officer who helps him get away with highway robbery.
Likewise every person who has lost his or her property in the last ten years, since the real Queen was abolished, ought to be able to collect this liquidated penalty, pay fifty percent tax upon it, and still be far better off than they are now. The biggest beneficiaries of this regime put in place by the Liberal Party are the Big Banks who made a $46 Billion Dollar profit last year, while the Liberal Government in Canberra is trying to screw Centrelink clients, to rake in around the $35 billion dollars deficit that they have allowed the Banks to evade using captive Judges and Magistrates.
Since 1983, the Director of Public Prosecutions of the Commonwealth has had power to overrule the Laws of the Commonwealth when it comes to law enforcement. Each and every one of the people was granted power, in 1914 in the Crimes Act 1914 (Cth) in s 13 of that Act, to prosecute any offender, but the Protection Racket this person has been running since this Act was passed, a protection racket for Banks, Corporate Offenders, Drug Dealers and Judges and Magistrates that has directly caused the present Budget Deficit of the Commonwealth is still there. The DPP has done this by s 9.5 Director of Public Prosecutions Act 1983, an Act that should never have received the Royal Assent because it has robbed the Crown. This should be repealed, but you need Rodney Norman Culleton in the Senate to get it done.
In 1973 the Governor General was misled into consenting to the creation of the Queen of Australia. Since then only a few High Court Justices have cast doubt on any allegiance whatsoever to the homespun Queen looking upon Her as illegitimate. Every Senator and Member of the Parliament of the Commonwealth swears allegiance to the Successor of Queen Victoria. This pretend Queen does not qualify, and no wonder some High Court Justices think she is a pretender. The present High Court which had five Judges declare Rodney Norman Culleton disqualified from the Senate, and the five Federal Court Judges who accepted a Judgment from a District Court Judge in Western Australia not made in the name of the Queen ought to be charged and disgraced. This should be enough to see Rodney Norman Culleton restored to the Senate and that Attorney General and President of the Senate charged as accessories to the said perversion of justice.
The Attorney General Senator George Brandis got a written Notice that Rodney Norman Culleton wanted the Commonwealth to strictly prove the Queen was legitimate in Western Australia, and he refused to come to the party. Senator Parry used the Judgment of an alleged illegitimate Judge in bankruptcy to kick out Rodney Norman Culleton from the Senate, on a dodgy contract no self- respecting lawyer would hold valid.
The Family Court has been illegal since its creation. It owes no allegiance whatsoever to the Queen. It destroys lives every time it adjudicates. It sends children into danger. It treats fathers and mothers alike as slaves. It treats children as chattels, as property of the State, to be dealt with like a commodity. It is the greatest lawyer’s money making machine ever created. It only continues because the High Court refuses to acknowledge the Queen and all She stands for.
No one, no one at all, should be imprisoned, have to pay any debt, unless the approval has been obtained from one of the Courts of Her Majesty. There are no such Courts in Australia today. There are lawyers Courts in the present Australia, but none “in the name of the Queen”, the words Senator Culleton insisted the High Court comply with, and as top of the pile, every lower court must comply too. For this they set out to destroy him, using Courts of Lawyers, and the lack of a proper education for every lawyer in Australia including those who advise the President of the Senate. The people of Western Australia must protest. By protesting and tossing out the present lawyers government in Western Australia and putting in a democratic party with the balance of power, you, the people of Western Australia will get your lives back, and your fair share of the GST. You will also lead the Commonwealth back to the Rule of Law, and get justice restored.
Singapore-owned Wilmar Sugar refuses to pay cane growers fair price.
Thanks to the Liberal National Party cane farmers cannot go to arbitration because the LNP removed the clause from Shane Knuth’s bill.
19 February 2017: KAP Federal Member for Kennedy, Bob Katter and State Member for Dalrymple, Shane Knuth MP today, in the Burdekin town of Ayr, attended a meeting with cane farmers to end the sugar marketing stalemate with Singaporean based company Wilmar.
In 2015 Mr Knuth introduced into the QLD Parliament the Sugar Industry (Real Choice in Marketing) Amendment Act 2015 giving an estimated 4,500 cane growing families choice in who they market with – the Bill passed with the support of the LNP and Independent Member for Cook. It was the second KAP Private Members Bill to become legislation and came within 24 hours of passing the ethanol mandate.
“The outcome of the meeting today still does not give clarity because there is no manoeuvre by the Federal Government to introduce a Code of Conduct,” Mr Knuth said.
“The numbers in the QLD Parliament have not been secured by the LNP, as yet, to get any amendments to the sugar marketing legislation. But as I did in the past when we drafted this legislation – working with the LNP and Canegrowers – we will be doing the same to ensure effective changes can take place,” Mr Knuth pledged.
Mr Katter whose electorate of Kennedy is highly reliant on sugar, was critical of the LNP for removing the final arbitration from the KAP legislation.
“The State representatives who were there today – we are only in this hole, without any cane supply agreements (no contracts between farmers and millers), because the LNP took out the clauses for final arbitration – where the referees decision is final. That was in there and the LNP took it out. We didn’t have the numbers without the LNP so it had to go through QLD Parliament without that clause,” Mr Katter said.
“With all of the QLD State LNP seats now in serious doubt and vulnerable to attacks from KAP and PHON, we might be able to get the QLD State LNP more scared of us than their corporate masters.
“George Christensen has crossed the floor on ethanol. His crossing the floor on ethanol was an act of very great courage and I think he has played a key role in convincing the Feds to stop them from intervening and overturning the sugar marketing legislation.
“The LNP today says ‘we believe in a competitive market and when it doesn’t work we intervene’. Fancy saying that when they (the LNP) introduced the deregulation.
“Statements about ‘we believe in competition setting the market price’. What an appalling statement! Do you believe the market sets the price of milk with only two buyers in there? Or the price of apples, bananas, oranges or sugar?
“The two giant supermarket chains set the market price. Sugar has a 400% mark-up on the price for refined sugar that the industry gets paid.
“Our second underlying problem is the world sugar market price is set by Brazil and they have over the last 16-17 years received $420 a tonne, and I doubt whether we have got $360 a tonne. We can’t survive on $360 a tonne average price.
“George Christensen no doubt was instrumental in getting the Deputy Prime Minister to stop any intervention from Canberra to overturn the Sugar Marketing legislation. Farmers and every worker in Australia should be entitled to arbitration. Thanks to KAP for introducing the legislation, at least one industry now has arbitration.
“We thank the Deputy Prime Minister for listening to George Christensen on this issue,” Mr Katter ended.
from Robert J Lee
How did Rabobank get into Australia to take the place of the Commonwealth Development Bank?
The Netherlands-based Rabobank has its origins in Australia thanks to former Labor Prime Minister Paul Keating and his then wife Annita, a Dutch-born Australian.
Reputedly the world’s largest rural bank, Rabobank reportedly was asked to hang up its shingle in Australia by the Keatings when he was Prime Minister in 1995.
Several years before the Keatings were involved with Danish interests in setting up a string of large piggeries in NSW.
Eventually the business failed and the Keatings were left holding the bag with the Commonwealth Development Bank reportedly for about $4million however according to then Senator Michael Baume, who doggedly pursued Keating over his debts at the time, it could have been much more.
To get out of debt in one foul swoop, Keating wound up the CDB in 1995, and put Rabobank in its place. Senator Baume said at the time the CDB debt was not ever repaid by Keating.
Most Rabobank profits go back to European shareholders. Paul Keating today drip feeds hundreds of thousands of dollars each year from the public purse, his reward for destroying Australian manufacturing and opening up Australia to the rapacious foreign banks.
Even today Keating still maintains Australia should be a ‘service country’, an ideology carried on by Malcolm Turnbull and the Liberal Party.
BRING ON THE NATIONAL ID CARD
Australia is maintaining its ‘guinea pig’ status for the world by enforcing facial recognition and iris ID scans for its citizens, aided and abetted by the Liberal Party. If it works other countries will follow.
We suggest you contact Immigration Minister Peter Dutton’s office and tell him you will not participate in such draconian ID measures
New technology will mean many travellers will soon not need to present their passports when entering or leaving Australia.
The Department of Immigration and Border Protection is seeking tenders for a self-processing system to be introduced later this year.
The system will use fingerprints, iris or facial structure recognition at major air and sea ports.
Immigration Minister Peter Dutton said the aim was for more than 90 per cent of passengers to avoid paperwork or manual processing by staff.
“In many cases that will mean people, whilst they’ll still have to carry their passport, may not have to present their passport at all in the long term,” Mr Dutton said.
“But in the immediate term, this will make it easier, it will make it quicker, for people going in and out of our airports.”
Mr Dutton said the $78 million upgrade would also boost security at the nation’s borders by making it easier to detect threats.
“Already we know from the money we’ve invested into biometrics collections that that is a much more reliable collection than we have with people just scanning manually passports,” he said.
“So there is the ability through this technology to improve detections of people that might be coming into our country to do the wrong thing.”
Mr Dutton said cutting down processing times for travellers was also likely to boost tourism.
He said the government was keeping an open mind as to what technology may be used as it sought tenders.
by Robert J Lee in Canberra
Judicial corruption has again reared its head after Western Australia Federal Court Judge Michael Barker informed the President of the senate that Senator Rod Culleton is a bankrupt.
Senator Culleton said he had challenged the alleged financial claims against him that led to Judge Barker issuing sequestration orders to freeze his assets yet the judge had ignored all due process in his haste to get him tossed out of the senate.
The President of the senate, Liberal Stephen Parry, a former Tasmania police officer and mortician who has been accused of involvement in the official Port Arthur massacre cover-up, had “usurped the powers of the senate” by declaring Senator Culleton’s position vacant.
Senator Parry announced on Wednesday he had received confirmation from the Federal Court that Mr Culleton was bankrupt, making his position vacant, but Mr Culleton said the statement was premature and “should be withdrawn immediately”.
“No one is above the law, and the 21 day stay of proceedings granted to me in the Federal Court on December 23 does not expire until tomorrow,” Senator Culleton said.
“Senator Parry has no right to jump in before the 21 day stay period expires.”
Senator Culleton also filed a notice of appeal in the West Australian registry of the Federal Court late on Wednesday, along with an interlocutory application seeking that the sequestration order and proceedings under the sequestration order be stayed pending the hearing of the appeal.
“I am not a bankrupt and evidence of sworn valuations was given to Judge Barker by my solicitor in the court hearing but he refused to accept it,” he said.
The ‘law’ particularly in Western Australia has long had a question mark over its head and Senator Culleton has been another victim of the nexus between the judiciary, the Parliament and the public service.
He said the judiciary was a ‘basket case’ and this had been highlighted after Judge Barker called his own court a “circus” a sentiment echoed by the West Australian newspaper when reporting on Senator Culleton’s hearing in December after several One Nation antagonists were ordered to leave the courtroom.
“The courts have been starved of government funding and are not getting the revenue they need to operate properly,” he said.
“All courts need juries and litigants have the right to get one.”
On March 11 last year, to commemorate Australia’s worst official massacre, Cairns News ran a story about Senator Parry and his involvement in the Port Arthur cover-up by the major media and governments.
Revelations by Austrian-based author and researcher, Keith Noble, that Senator Stephen Parry had prior knowledge of the shootings, have not been refuted by him.
In his 16 page, disturbing 1997 paper entitled ‘Port Arthur Massacre – AFDA National Embalming Team – Detailed Report’, that appears in a little-known book entitled ‘PORT ARTHUR SEMINAR PAPERS: A record of the Port Arthur Seminar’, 11-12 March, 1997, Melbourne, Victoria (ISBN 0642271364) clearly shows the incident that rocked a nation was planned.
Senator Parry stated in the following passage :
“I was particularly impressed by the quick response and initiatives by some of the team members in packaging and collecting equipment.
The response time and the amount of equipment quickly relocated was fantastic. One firm in particular, Nelson Brothers, had organised for an embalming machine box and a special large equipment case to be manufactured ready for the incident. These two containers were the envy of all embalmers and worked extremely well.
I would suggest that design specifications may be available from this firm for any future considerations by other firms.”
Such is the appalling state of injustice in Australia where justice is only(sometimes) available to those who can afford it, that the public has lost any confidence it may have had in the court system and parliaments long ago.
The Communist Chinese government, through state-controlled corporations masquerading as private entities, is accelerating its plan to acquire control over deep water ports and major shipping lanes across the world.
The Sri Lankan government, heavily indebted to China, recently agreed to lease approximately 80% of a strategic port in the southern part of the country to a state-owned Chinese company for $1.1 billion.
The port of Hambantota lies along an important trade route connecting Asia and the Middle East, and is a key part of Chinese President Xi Jinping’s “one belt, one road” plan to expand Chinese control over key shipping lanes.
The United States refers to these strategic ports as China’s “string of pearls.”
China Merchant Port Holding Company, which purchased the lease to operate the port of Hambantota, is owned by the Communist Chinese government; specifically, it is owned via majority share by the China Merchants Group, a state-run corporation based in Hong Kong.
The same state-owned corporation maintains an 85% share over a large new terminal at the port of Sri Lanka’s capital, Colombo, as well as varying levels of control over ports in the African nations of Djibouti and Togo.
After acquiring 49% of Terminal Link, a portfolio of terminals run by struggling French container line CMA CGN, China Merchants Group gained access to the following ports: Antwerp and Zeebrugge in Belgium; Dunkirk, Le Havre, Montoir, and Fos in France; Casablanca and Tangiers in Morocco; Marsaxlokk in Malta; Abidjan in the Ivory Coast; Houston and Miami in the United States; Bussan in South Korea.
Another major state-owned corporation, COSCO Pacific, has minority control over the following ports: Antwerp, Suez in Egypt, and Singapore.
COSCO acquired a majority share (51%) of operations at the Greek port of Piraeus in April, 2016 (another 16% will be acquired after an agreed upon period of modernization lasting five years).
The Greek government was forced to sell control over the port, as well as control over 14 regional airports to a German-based company, in a desperate bid to satisfy EU creditors eager for repayment.
COSCO was at the center of controversy when the company sought to lease a former naval base at the Port of Long Beach, California after one of their ships was suspected of illegally trafficking firearms and was raided by customs officials in 1997.
President Bill Clinton was tied to the Chinese company that produced the firearms, Polytechnology, after a supporter escorted the company’s president, Wang Jun, into one of the President’s “White House coffees”, where he reportedly met with Clinton.
Clinton later said the meeting was ”inappropriate” and “an example of the failure of the White House to screen visitors rigorously.”
The cash-strapped (and corruption-plagued) government of the Australian Northern Territory leased control over port facilities in the capital city of Darwin to the Landbridge Company, a company closely connected to the Chinese government, for $361 million late last year.
The 99-year lease raised concern among some in the United States as Marines use the base to train approximately six months out of the year. In addition, fuel storage tanks used by the Marines are situated directly on the land leased to the Chinese company.
Critics argued that China’s port control “could facilitate intelligence collection on U.S. and Australian military forces stationed nearby,” according to the New York Times.
Ye Cheng, chairman and founder of the Landbridge Company, was honored as one of the top “10 individuals caring about the development of national defense” by the Shandong provincial government in 2013.
The Landbridge Company’s website notes their strong ties to “state-owned companies like China National Petroleum Corporation, which supplies oil to Landbridge and allows them to sell it at retail pumps under the corporation’s name.
Panama Ports Company, a subsidiary of Hutchison Ports, maintains exclusive rights to operate ports at both ends of the Panama Canal (Balboa on the Pacific Ocean, Cristóbal on the Atlantic Ocean).
Hutchison Ports is a subsidiary of CK Hutchison Holdings, chaired by Hong Kong-based billionaire Li Ka-shing. He has close ties to the Chinese government, as does the company’s co-managing director and deputy chairman, Victor Li Tzar-kuoi, who served on the Standing Committee of the 12th National Committee of the Chinese People’s Political Consultative Conference.
As of 2006, over 60% of the container terminals at the ten largest ports in the United States were operated by a foreign corporation, with the number rising to 80% at the largest ports in Los Angeles and New York/Newark.
Cairns News Links:
- Cairns News published the China private army takeover of Port Darwin – https://cairnsnews.org/2015/11/21/chinas-landbridge-army-to-takeover-darwin-port/
2. Cairns News published China purchasing John Holland Ltd a major Australian Defense Contractor – https://cairnsnews.org/2016/08/11/communist-china-buys-john-holland-constructions-key-defence-dept-provider/
3. Cairns News published China’s warning for Australia to dismiss USA alliance – https://cairnsnews.org/2012/05/26/china-warns-australia-dismiss-us-alliance/