It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Rudd copies Bush, while G-14 nations turn to LaRouche’s New Bretton Woods

page: 1
1

log in

join
share:

posted on Oct, 8 2008 @ 07:03 PM
link   
Australia is in more trouble than we thought. And we thought Little Johnny Howard was a Bush hand puppet. We have been told Australia will be relatively OK, but now I am starting to get nervous.
I recived this email today, and decided to share it here.


The Bush/Paulson $700 billion bailout had an immediate impact on Monday, crashing markets all around the world. In Australia, hundreds of thousands of retirees and pre-retirees have now joined farmers, mortgage-stressed homeowners, and pensioners as victims of the economic collapse, having lost hundreds of billions of dollars in superannuation.

Yet what is our Government doing? Kevin Rudd is taking his lead from the dumbest president in history—save the bankers, and screw the people! The Government that can only “watch” fuel prices, food prices, homeowners, and pensioners, bends over backwards for bankers. Is this what you expected when you voted for him? The only approach that will save the people from ruin and a new dark age is Lyndon LaRouche’s proposal for a complete reorganisation of the financial system, which is premised on the understanding that there is no way that the financial system in its present form can be saved.

By contrast to Rudd and his “leader” Bush, many other nations, particularly in Europe, are turning to LaRouche’s New Bretton Woods reorganisation:

On Sunday evening, Russian National TV’s Vesti Nedeli (News of the Week) program, watched by 70 million viewers, chose to broadcast LaRouche elaborating on his Rooseveltian, New Bretton Woods proposal, as the solution to the international crisis: “This system, in its present form, is virtually extinct. This system will not live out, probably, this year. By the first of the year, we may have a broken-down international financial- monetary system. The question is, what is the alternative to a collapse? It means a reorganization, on an emergency basis, of the entire international monetary-financial system. It would require that the United States would have to go to the three largest nations, outside itself, which would be Russia, China, and India. If [they] agree on reorganizing the international financial-monetary system, we could solve the problem. This would mean going to a Roosevelt approach, to a kind of new Bretton Woods system.”
French President Nicholas Sarkozy is leading moves in Europe to scrap the deadly constraints which the Maastricht Treaty imposes on the national governments of Europe, and initiate a government-run, Roosevelt-style reorganisation of the financial system. His initiative is being taken up by the G-14, which includes the G-8 and China, India, South Africa, Brazil, Mexico, and sometimes South Korea, Australia or Nigeria. LaRouche commented: “There’s a complete coincidence between what the Russian TV quoted from me, and the policy and the circumstances of the policy that has now essentially gone through in Europe, as the outlook of Europe, and that is coming out of the G-14 grouping. So the whole G-14, implicitly by this broadcast and by the things coming from France and so forth, is saying that the entire system is going through reorganization, and that it’s going towards a Roosevelt-style system, a Roosevelt-style reform... The Europeans are acting. They are acting their way: not my way, but their way. That’s what is happening. There is an agreement that the present IMF system is implicitly dead—that we’re going back to something like the Roosevelt system—and that is coming from sources such as the President of France. It involves not just Europe, it involves also the G-14.”
Australians must decide: Bush, or LaRouche? Bankers, or the people? We must insist that the Rudd Government stop copying the Bush banker-bailout policy, and reach out to collaborate with the G-14 moves to reorganise the system.


What you can do

Linked is a copy of the petition they are wanting us to sign.
Essentially what it is asking for is...

1. Parliament must establish a Federal agency to place Australian licensed retail Banks, Credit Unions and Building Societies under protection, freezing all existing home and family farm mortgages for a period of however many months or years are required to adjust the values to fair prices, and restructure existing mortgages at appropriate interest rates. Further, this action would also write off all of the speculative debt obligations of mortgage-backed securities, derivatives, and other forms of Ponzi Schemes that have brought the banking system to the point of bankruptcy.
2. During the transitional period, all foreclosures shall be frozen, allowing Australian families to retain their homes and farms. Monthly payments, the equivalent of rental payments, shall be made to designated banks, which can use the funds as collateral for normal lending practices, thus recapitalising the banking systems. These affordable monthly payments will be factored into new mortgages, reflecting the de-flating of the housing bubble, and the establishment of appropriate property valuations,
and reduced fixed mortgage interest rates. This shakeout will take several years to achieve. In the interim period no homeowner or family farmer shall be evicted from his or her property, and the Australian licensed retail Banks, Credit Unions and Building Societies shall be protected, so they can resume their traditional functions, serving local communities, and facilitating credit for investment in productive industries, agriculture, infrastructure, etc.
3. State premiers shall assume the administrative responsibilities for implementing the program, including the “rental” assessments to designated banks, with the Federal government providing the necessary
credits and guarantees to assure the successful transition.


I would like to hear your thoughts on this.

[edit on 8/10/2008 by VIKINGANT]




posted on Oct, 8 2008 @ 07:22 PM
link   
reply to post by VIKINGANT
 


There is nothing, not floods of cash or reorganization which will fix this current mess, without the restoration of trust.
All credit is based upon trust relationships.

The first step in any resolution which has a hope of being successful is the flushing of the system of those untrustworthy individuals, and the systematic removal of their wealth. Followed by harsh and swift punishment for their dastardly actions.

Without the restoration of a condition where trustworthyness is expected, there is no reason for the next system to be any better. No financial system can survive when trustbreaking greed is rewarded.

Almost any system which restores trust will outlast the current doomed system.

It is for this reason that McCains plan for the government to buy bad mortgages and renegotiate them to survivable rates is doomed.
By buying the mortgages he is rewarding the banks for bad behavior which they will then continue.

By the government eating the losses, he is in fact making the people eat the losses while the banks profit.

We will be socialist at that point, where people buy things they cannot afford and then the government rewards the unwise buyer and the bank and punishes the prudent buyer by adding the mortgage of the imprudent to their taxes.

This will incentivize the insane purchasing, and punish sane purchasing. Everyone will buy beyond their means and the next cycle will destroy us all, if the economy ever recovered from this current cycle.


To use an analogy, there are foxes in the henhouse, the government is pushing new chickens into the henhouse as fast as they can to replace the losses.

They are taking the chickens from the neighbors who guarded against the fox, but when all the chickens are gone, the foxes will still be there.



[edit on 8-10-2008 by Cyberbian]



posted on Oct, 8 2008 @ 08:35 PM
link   
I say it's a better idea than the course the U.S. is taking (seems like we're giving alcohol to alcoholics without even requiring them to seek treatment)

Wouldn't work here though, the LaRouche name been effectively demonized by the MSM for quite awhile now.

I'd sign it.



posted on Oct, 9 2008 @ 01:37 AM
link   
Thanks for the support. Its a pity noone from OS would make an impact. Maybe some more Aussies could get on board with this.
Also, maybe the banks could afford to allow at least a month or two worth of repayments to lapse. Then families could get a bit of a grip on bills etc. Maybe even start spending a little to get money flowing again.
I'm sure thier A$900,000 per day profit margin could hande it.



posted on Oct, 9 2008 @ 01:46 AM
link   
We've got Wane Swan heading for the IMF meeting on Friday...

I'm sure he'll fix everything


Go get 'em Swannie!

I don't think there's need for immediate action on Australia's banking system - CBA bought out Bank West for a cool A$2b this week, they're not exposed to sub prime like the European and American banks.



posted on Oct, 10 2008 @ 02:34 AM
link   
someone has to bail them out

and it OZ it's the average Joe.

sure US/UK ect government is handing out billions to try and get it back in shape, here we have the the interest rate dropped 1%, the biggest drop in I think over 10yrs, with the banks giving 0.8%, that .02% difference is the the billion dollar payout from your govenments.



posted on Oct, 10 2008 @ 03:04 AM
link   
I like the idea about freezing mortgage repayments for two months and adjusting peoples mortgages to reduced house values....deflating the housing bubble and making it more affordable for the average person. would like to see where this proposal; ends up.

current system must go.......just keeps getting the rick richer....we have to have a more even spread of wealth in society and if that means becoming more socialist than so be it.



posted on Oct, 10 2008 @ 07:01 PM
link   

Originally posted by Cyberbian
...The first step in any resolution which has a hope of being successful is the flushing of the system of those untrustworthy individuals, and the systematic removal of their wealth. Followed by harsh and swift punishment for their dastardly actions.


/signed

the harsher the better I say.



posted on Oct, 10 2008 @ 10:31 PM
link   

Originally posted by Melbourne_Militia
I like the idea about freezing mortgage repayments for two months and adjusting peoples mortgages to reduced house values....deflating the housing bubble and making it more affordable for the average person. would like to see where this proposal; ends up.

current system must go.......just keeps getting the rick richer....we have to have a more even spread of wealth in society and if that means becoming more socialist than so be it.


It's a tricky situation.

I certainly agree the curent monetary system needs either a massive alteration and restructure, or a totally new concept should be adopted.
What "system" is the best, I am still undecided.

I am also concerned about how long the current system gets propped up and the potential to flog the dead horse.
This is the ideal situation to transfer the ownership of wealth.

One could argue that if there is a move to a total restructure globally towards a socialist based system, the longer the current situation and the more resources and credits/deals "they" can pull from the system the better.



new topics

top topics



 
1

log in

join