flipper
Paranormal Adept
I cannot find the article but it talked about how Australia made its own money. It talked about how money itself is worthless. The labour of the people of Australia built the bridges and infrastructure. The money only represented that labour. In Canada we were able to borrow money from ourselves until we joined what was then the G6 in 1976.
Anyway what Australia did then is an inspiration to us all:
Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia
“Australia’s own government-established Commonwealth Bank achieved some impressive successes while it was ‘the peoples’ bank’, before being crippled by later government decisions and eventually sold. At a time when private banks were demanding 6% interest for loans, the Commonwealth Bank financed Australia’s first world war effort from 1914 to 1919 with a loan of $700,000,000 at an interest rate of a fraction of 1%, thus saving Australians some $12 million in bank charges. In 1916 it made funds available in London to purchase 15 cargo steamers to support Australia’s growing export trade. Until 1924 the benefits conferred upon the people of Australia by their Bank flowed steadily on. It financed jam and fruit pools to the extent of $3 million, it found $8 million for Australian homes, while to local government bodies, for construction of roads, tramways, harbours, gasworks, electric power plants, etc., it lent $18.72 million. It paid $6.194 million to the Commonwealth Government between December, 1920 and June, 1923 – the profits of its Note Issue Department – while by 1924 it had made on its other business a profit of $9 million, available for redemption of debt. The bank’s independently-minded Governor, Sir Denison Miller, used the bank’s credit power after the First World War to save Australians from the depression conditions
being imposed in other countries. . . . By 1931 amalgamations with other banks made the Commonwealth Bank the largest savings institution in Australia, capturing 60% of the nation’s savings.”Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia | Global Research
Premiere of "Jekyll Island" Secret Origins - Bill Still
Bill Still's "Jekyll Island: The Truth Behind the Federal Reserve" MP3 Guns and Butter
Guns and Butter - September 25, 2013 at 1:00pm | KPFA 94.1 FM Berkeley: Listener Sponsored Free Speech Radio
Guns and Butter - October 2, 2013 at 1:00pm | KPFA 94.1 FM Berkeley: Listener Sponsored Free Speech Radio
Anyway what Australia did then is an inspiration to us all:
Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia
“Australia’s own government-established Commonwealth Bank achieved some impressive successes while it was ‘the peoples’ bank’, before being crippled by later government decisions and eventually sold. At a time when private banks were demanding 6% interest for loans, the Commonwealth Bank financed Australia’s first world war effort from 1914 to 1919 with a loan of $700,000,000 at an interest rate of a fraction of 1%, thus saving Australians some $12 million in bank charges. In 1916 it made funds available in London to purchase 15 cargo steamers to support Australia’s growing export trade. Until 1924 the benefits conferred upon the people of Australia by their Bank flowed steadily on. It financed jam and fruit pools to the extent of $3 million, it found $8 million for Australian homes, while to local government bodies, for construction of roads, tramways, harbours, gasworks, electric power plants, etc., it lent $18.72 million. It paid $6.194 million to the Commonwealth Government between December, 1920 and June, 1923 – the profits of its Note Issue Department – while by 1924 it had made on its other business a profit of $9 million, available for redemption of debt. The bank’s independently-minded Governor, Sir Denison Miller, used the bank’s credit power after the First World War to save Australians from the depression conditions
being imposed in other countries. . . . By 1931 amalgamations with other banks made the Commonwealth Bank the largest savings institution in Australia, capturing 60% of the nation’s savings.”Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia | Global Research
Premiere of "Jekyll Island" Secret Origins - Bill Still
Guns and Butter - September 25, 2013 at 1:00pm | KPFA 94.1 FM Berkeley: Listener Sponsored Free Speech Radio
Guns and Butter - October 2, 2013 at 1:00pm | KPFA 94.1 FM Berkeley: Listener Sponsored Free Speech Radio