IS AUSTRALIA HEADED FOR ECONOMIC ARMAGEDDON?
Remember in 2020 when EXPERTS told us that, contrary to what we were all taught in the past, mountains of government debt was actually a good thing?
It was called Modern Monetary Theory (MMT) and it all hung together beautifully in the models.
Well you don’t hear much about MMT anymore.
Not since inflation started skyrocketing and central banks began hiking their interest rates.
This month, Australia’s RBA raised interest rates to 0.85% and Goldman Sachs says it could hit 2.6% by year’s end.
Which makes RBA’s actions incredibly reckless, in my book.
Property and household debt are pretty much the only thing still driving this country’s economy.
We generate no real wealth, create no productive jobs, while private investment and wage growth have been stagnant for decades.
Where is the national productivity agenda? There is none.
Australia is now a ‘service’ economy – ‘services’ and the longest running property bubble in history!
In 2020, the Treasurer said gross government debt would be $1.1 trillion by June 2024.
According to Treasury’s models, the total interest payable on all that debt was predicted to be $113 billion by June 2025, or close to $20 billion each year.
There’s just one tiny problem.
The models were calculated on the ‘assumption’ that there would be A STEADILY FALLING INTEREST RATE ACROSS THAT PERIOD!
Which as everyone knows, didn’t happen. Instead of falling, interest rates have tripled.
So instead of having to pay around $20 billion in interest each year, the federal government could be looking at $60 billion.
And despite what MMT theorists believe, governments absolutely MUST pay their annual debt interest payments – or the whole house of cards collapses.
Imagine if interest rates do hit that 2.6% Goldman Sachs has predicted. We could be looking at an annual interest bill ten times the amount predicted in 2020.
Even at $60 billion, Australia’s interest bill would be the Government’s third largest expenditure item behind health and aged income support, according to the IPA.
And remember! Australia’s Big Four Banks are 60-70% exposed to the property sector. Even a moderate run of defaults could finish them.
And here’s the kicker.
Under the Financial Claims Scheme Guarantee, deposits of $1 million or below with Australian-owned banks, building societies, credit unions and even Australian subsidiaries of foreign-owned banks are automatically guaranteed by the Federal Government!
That means if the property market collapses and some or all of the banks crash, guess who’s on the hook to bail them out? The Federal Government.
It would bankrupt the country.
Let’s hope the RBA knows what its doing!
WHO WANTS TO BE A ‘NET ZERO’ TRILLIONAIRE?
The Glasgow Financial Alliance for Net Zero (GFANZ) recently announced the creation of an Asia-Pacific (APAC) Network in Singapore to help the region “address the transition to net zero”.
For those not paying attention, GFANZ is the new ‘world bankers alliance’ which committed $AUD176 trillion towards building a new “net zero” economy at last year’s COP26.
It is the brainchild of Mark Carney, John Kerry, billionaire Michael Bloomberg, the Rockefeller Foundation, Jeff Bezos and Bill Gates, and its members include over 450 of the world’s biggest banks, asset owners, insurers and fund managers.
Under the guise of “net zero” and ‘saving the planet, this conglomeration of global capital say they want to create a whole new financial system with total, centralised control held by them.
In order to bring it all about, GFANZ have created “country platforms” which they describe in typical Davos style as a mechanism for ‘stakeholder capitalism’ and “public-private collaboration”.
By their definition, these platforms will “convene and align stakeholders – including national and international governments, businesses, NGOs, civil society organisations, donors and other actors – around a specific issue or geography to agree on and co-ordinate priorities around”.
The power of all those trillions will be used to force national governments into launching whatever projects, policies or investments GFANZ deems necessary for that country to ‘reach net zero’.
That’s what John Kerry and co-Chair Michael Bloomberg mean when they talk of “needing national governments to create the necessary conditions so these investments can take place”.
In GFANZ inaugural Progress Report, this is emphasised again and again, with references to pressuring governments into creating ‘high-level cross-cutting enabling environments’; ‘investment friendly business environments’ and ‘pipelines of bankable investment opportunities’.
Essentially, “stakeholder capitalism” models give global capital a seat at the table when it comes to national decision-making, as well as the formulation of laws and regulations around their activities.
It will be they and they alone who get to decide who gains access to this $176 trillion they’ve created out of nothing, and what its used for in each country.
Of course everything will be cloaked in the usual ‘green’ collectivist propaganda about needing to ‘save the planet’.
But the reality is, if we go along with this, we won’t be saving the planet, we will be handing it over on a silver platter to a billionaire-bankster cartel, and there’ll be no getting it back.
That the ‘left’ can’t see what a huge land, resource and power grab this all is by global capital, is simply astonishing.
THOSE WHO CONTROL YOUR MONEY, CONTROL YOU
Bloomberg, the IMF and Bank of International Settlements all recently released reports saying that 90% of the world’s central banks are planning to introduce a new form of currency called Central Bank Digital Currencies or CBDCs.
What these reports barely mention and what no politician, banker or journalist will tell you, is that the single most defining feature of CBDCs, is that they are a form of currency that is programmable.
That makes CBDCs – along with Digital ID – the biggest existential threat to human freedom humanity has ever faced.
You would think this would make CBDCs a hot topic during Australia’s federal election, given our RBA is one of the central banks making plans for a CBDC roll-out.
But if you thought that, you’d be wrong. Instead, we’ve had wall to wall crickets on the subject from anyone in government or the media.
They’re not stupid, of course. They all know that to get CBDCs past a sleeping populace, they must tread very, very softly.
So for all those sleeping Australians out there, let me spell it out for you: –
A CENTRAL BANK DIGITAL CURRENCY MEANS TRANSFERRING ALL CONTROL OF YOUR MONEY TO THE STATE.
It’s that simple.
It is a form of currency that can be programmed to only activate in certain areas, for a certain time period or once a citizen has met certain pre-conditions.
CBDCs offer governments the ultimate ‘nudge’ tool for enforcing behaviour change on its citizens.
It will start off with ‘rewards’ for ‘good behaviour’ but we all know where that game ends – with penalties and punishments for those who don’t comply.
Deducting a percentage from your wages to “fight climate change” – no problem!
What about imposing financial sanctions because you didn’t get this month’s booster shot, or you drank too much, ate too much or drove your car today?
You only have to look at the recent Canadian truckers’ protest to see what a ‘democratic State’ is now prepared to do to anyone who opposes them.
CBDCs can be adjusted to restrict access to a particular area – say 5 kms of your home. If you try to go to a shop 5.1 kilometres away, the algorithm will shut down access because you’re outside your permitted zone.
It’s called geofencing and will be brought to you courtesy of Elon Musk’s Starlink system and 5G.
The CBDC algorithm can also be adjusted to only allow you to buy certain items, at certain times, or from certain shops.
The levers for control will be limitless.
When the State wields that kind over power over you, that’s the end of human freedom as far as I’m concerned.
AUSTRALIA’S ECONOMIC HORROR SHOW IS JUST GETTING STARTED …
The new inflation numbers came out yesterday and they are the worst this country has seen in 20 years.
CPI annual inflation is up an unprecedented 5.7 percent.
Even worse, inflation for non-discretionary goods and services – the stuff you HAVE to buy – jumped 6.6 percent.
That’s higher than the CPI and twice the rate of discretionary inflation.
The new figures show big rises across all the food groups reflecting high transport, fertilisers, packaging and ingredient costs, as well as lockdowns and mandates.
The cost of vegetables up 6.6 percent, water, juices and soft drinks up 5.6 percent and beef, 7.6 percent.
And it’s not just food.
The cost of electricity is rising, education fees are increasing and building costs are through the roof.
The cost of new dwellings for the year rose 13.7 percent, while automotive fuel skyrocketed 35.1 percent.
Of course, the REAL numbers are much, much higher.
True inflation rates have been cleverly hidden using a complex set of formulas, all formulated to deceive you.
But people are now waking up to exactly what’s going on here.
For most of us, the truth has become impossible to ignore.
If there is one core economic fact that everybody in the country understands, no matter how poor their maths skills are, it’s that we are all getting poorer – much poorer.
And it’s not just the people who buy things – consumers – but also the people who sell them.
The soaring inflation rate will be an absolute disaster for small business.
Soaring inflation stops spending in its tracks and small business is going to be at the frontlines of all that.
All these price hike may be bearable if you earn $250,000 a year, but if you make $50,000 a year, they are a catastrophe.
This will radically change the way you live.
Your standard of living will plummet.
This is what millions of Australians are facing right now.
It’s not a talking point, it’s real.
By every statistical measure available, this country has been in decline for more than forty years, although it was hard to see with all the gaslighting and propaganda smearing anyone who tried to point it out – like One Nation!
Who’s going to pay for all this. You are.
It will be the biggest tax increase of your life.
All brought to you courtesy of decades of mismanagement and reckless fiscal policies by our two major parties and their globalist mates.
Don’t forget to thank them for it come election day!
GIANT TSUNAMI OF CHINESE DEBT COULD WIPE AUSTRALIA OUT
The world is staring at a giant pile of government debt worth $226 trillion.
It represents the biggest surge in borrowings since World War-II.
Japan’s situation is particularly alarming. It has borrowed more than $9 trillion, around 230 per cent of its GDP.
For two years, poor countries worldwide have been encouraged to take on record amounts of debt, which is now throwing many into default.
With debt interest payments becoming more expensive, the World Bank and IMF say more than a dozen or so countries will go into default over the next 12 months.
Officials in countries like Sri Lanka, now face a stark choice – feed their hungry people or default on their debts.
The real sleeping giant in all this is China.
China’s debt is 290 percent of its GDP according to the Bank of International Settlements.
That’s higher than any other major economy in the world, including the US.
China’s debt-to-GDP ratio is growing at a rate of 11 percent per year – which means its debt is outpacing its GDP growth.
China’s state-owned banks, meanwhile, are sitting on mountains of bad debts and non-performing loans.
Bad loans alone hit $581 billion in 2021.
And that is just what’s visible.
Not included are $990.22 billion in non-performing loans carried by banks as “special mention loans”, which are in danger of default.
Over 70 percent of these non-performing-loans have been bundled up and resold to investors at inflated prices.
More murky debt can be found in China’s shadow banking sector, where $13 trillion lending is done through non-traditional financial institutions.
Then there is China’s local government debt which official figures put at $3.97 trillion, but which Goldman Sachs, says could be as high as $8.2 trillion, nearly half China’s GDP.
The list of Chinese property developers defaulting is now snowballing.
The sector has serious liquidity problems and $117 billion worth of debt maturing this year.
Banks won’t lend to them, new projects have ground to a halt and unfinished infrastructure projects are being demolished.
Global pension funds and institutional investors who have invested $2.1 trillion dollars in Chinese companies are all at risk.
Anyone who likes a good horror story, should read AFR’s article on “Why your super is making the long march to China”!
If China’s economy collapses, it will wipe Australia out, along with many of its people’s super nest eggs.
And yet, hardly anyone is talking about this.
Financial ‘experts’ instead say ‘debt’ is a good thing and Australia needs more of it!
Seriously, in any normal, functioning meritocracy, these people would all be pushing trolleys at Coles, not steering our economy.
The fact they are, should keep every Australian up at night.
It does me.
AUSTRALIA’S STANDARD OF LIVING HAS PLUMMETED – AND NO, YOU’RE NOT CRAZY FOR THINKING SO!
Short of highway robbery, nothing makes you poorer than inflation, and right now, Australia’s inflation is soaring.
According to the Consumer Price Index (CPI), inflation is at 3.5% for the year, but in real terms, this number is little more than a well-crafted lie.
Just one more rigged government number amongst many.
The CPI is calculated by assigning relative weight to different categories of goods. It’s done using a set of complex formulas, most of which are specifically designed to deceive you.
Take fuel prices, for example.
The price of petrol is ‘weighted’ in the CPI at just 3.3%.
Now if you are someone who happens to catch the bus every day, then that MAY make some kind of sense.
However, if you are like the rest of us and use a car to drive to work each day, then a 3.3% weighting is an absolute joke.
It doesn’t take a maths genius to work out that fuel costs make up a lot more of a person’s weekly budget than 3.3%.
The CPI completely ignores this reality.
The same way it ignores people’s soaring household debt, mortgage interest payments, cost of housing/assets and stagnant wages!
The bottom line is that none of the CPI figures come close to being accurate. Just do the maths for yourself.
The price of a used car went up 21% over the past year.
Houses went up 18%.
Fuel costs went up 60%, while the cost of timber rose 50 to 100%, steel by 30 to 60% and concrete, 20 to 40%.
Wheat went up 37%, corn 21%, sugar 20%, and the price of a cup of coffee should hit $7 by the end of the year.
All that’s without even looking at things like ‘shrinkflation’, where companies reduce the size of a product and disguise it with fancy new packaging.
And that’s just what we BUY. Take a look at the hikes we’ve seen in rents, utilities, land tax and insurance. Are you starting to get the idea?
Why would governments lie? Well, let’s just go with the obvious.
Imagine you are a government, who has racked up eye-watering amounts of debt and printed far too many dollars, to fund a bunch of useless ‘green’ projects and UN-directed ‘woke’ programs.
Along the way, you devalued your currency, set inflation soaring, destroyed small business, wiped out the middle class and impoverished an entire population.
I’m no Einstein of course, but all this may be something a government might want to hide.
As far as ‘conflicts of interest’ go, putting governments in charge of our economic data and figures, must rank as one of the worst ideas in history!
CASH MEANS FREEDOM – DON’T EVER FORGET IT!!
BIG TECH SHUTS DOWN RUSSIA
Apple and Google gave an awesome demonstration of their enormous power and reach recently, when they cut off the Russian people’s access to all their online payment platforms and apps.
Irish journalist, Jason Corcoran tweeted an image of commuters at Moscow’s Metro at the very moment they realised they could not get on to the train station because all the payment apps had been deactivated.
“Apple Pay and Google Pay no longer work on Moscow’s metro system, leading to long queues as people FUMBLED ABOUT FOR CASH,” Corcoran tweeted.
The move caused pandemonium as people realised their bank cards, including Samsung Pay, also no longer worked.
The blow coincided with a joint move by Mastercard & Visa over the weekend, cancelling all financial transactions using their Russian bank-issued credit cards.
There are now massive runs on Russian banks as citizens scramble to withdraw as much cash as they can.
“Giving the keys of our lives to companies like Apple, Google, Facebook, Twitter, Amazon and other giants of the digital world has been the biggest mistake mankind ever made” someone tweeted yesterday.
Before you jump in and say ‘well it serves the ‘Ruskies’ right’ – STOP AND THINK A MINUTE.
If Big Tech/Big Finance are prepared to cut off a WHOLE country like that, do you think for a second, they would hesitate to cut you or I off, if the Government asked them to?
Don’t forget – Big Tech and the Morrison Government signed a TOP SECRET agreement last year, the full details of which are UNKNOWN.
They said it was about intellectual copyright, but at the end of the day, not a single one of us has any idea EXACTLY WHAT was in that agreement.
If you think I am exaggerating, just ask those brave Canadian Truckers who lost millions in donations recently, when GoFundMe STOLE the lot at the Canadian PM’s request.
Even Canada’s banks sold out the people, when asked to do so by Trudeau.
They obediently froze the accounts of anyone who had made a donation to the Truckers’ cause, no matter how small. Those accounts remain frozen to this day.
The bankers’ act of bastardry sparked an immediate ‘panic’ and ‘run’ on the banks, as hundreds of Canadians rushed to get their money out in cash.
All this should send chills down the spine of anyone fighting the forces of global tyranny in Australia.
Let it be a lesson to every single one of us, that we must NEVER, EVER, allow any Australian government to ever take CASH away from us!
WE NEED TO USE IT OR LOSE IT and defend it to our last breath.
CASH MEANS FREEDOM.
DIGITAL IDENTITY FOR DIRECTORS’ LAW, SERVES THE INTERESTS OF GLOBAL CAPITAL – NOT AUSTRALIANS
Last year, amendments to the Corporations Act were passed, requiring ALL of Australia’s 2.7 million company directors to obtain personal Digital IDs, by no later than 30 November 2022.
Penalties for non-compliance include fines of between $1.1 and $26.6 million, and even imprisonment in some cases.
The Minister for the Digital Economy, Jane Hume, said at the time, that the new system would help business owners by “saving them time and reducing red tape”.
To obtain a Digital Identity, every director MUST provide all their ‘ID verification documents’ through a myGovID account.
They will then be issued with a 15 digit Identification Number that belongs to them forever, wherever they work and wherever they go in the world.
The Director Identity Numbers are not issued domestically, but through the International Office of Standardisation, headquartered in Geneva, Switzerland.
The ISO, along with its partners in the UN and WEF, promote Director IDs “as essential for global trade reasons, to ensure a global ‘level playing field’ of standards and metrics for all the worlds products, services and human capital”.
According to the World Bank:
“Digital ID will .. provide empirical evidence about the role of the board of directors as a strategic decisionmaker in the company’s contributions to the achievement of the SDG targets.”
“This includes board parameters, such as board size; diversity; independence; and the presence or absence of ESG committees that measure the relationship of directors with SDG and ESG metrics”.
So basically, not really about “saving time and reducing red tape” then!
The Director’s identity system, we are told by WEF, UN, the World Bank and countless other global bodies, falls under SDG Target 16.9, which requires ALL “human capital products”, to be tagged, measured and monitored.
The Director ID will be used for all sorts of ‘predictive profiling’ by world regulators, with every director in the world assigned a ‘risk rating’ based on the metrics assigned to their individual characteristics, habits and behaviour.
Information stored on the Digital ID will initially contain just the basics, but over time, ALL sorts of meta-data will be added, using the magic of blockchain technology.
Listen to Charles Hoskinson speaking on Cardano’s global partnerships:
“Blockchain” he says, “is about the state being able to identify if you are a “good actor” and worthy of having a job, whether in the public or private sector”.
This is truly Black Mirror stuff, and yet it’s all really happening folks.
DIGITAL CURRENCIES, BLOCKCHAIN AND FULL-SPECTRUM DOMINANCE BY GOVERNMENT
The Morrison government recently announced plans to roll-out a Central Bank Digital Currency (CBDC), as part of a new “payments and crypto reform plan.”
The reform, we are told by an excited and uncritical financial media, will be the biggest shake-up of the Australian payments system since the 1990.
So why are ‘CBDCs’ suddenly ‘flavour of the month’ for governments around the world, including ours?
And why does it seem as though EVERY government in the world, has come up with the same idea, at the same time – yet again?
The best way to work out the REAL agenda behind any new law or policy, is to imagine what the ‘finished product’ will look like, and how it might impact you personally.
One way to do so in this case, is to look at some of the digital currency ‘pilots’ already being run by governments overseas.
In 2021, the Mexican government launched a CBDC digital currency using blockchain technology.
It is called the ‘hoozie’ and it is pegged to the Mexican Peso 1-1.
A ‘test pilot’ for the program was run in the region of Guadaljara, where people could ‘earn’ hoozies, by carrying out activities that ‘benefit’ their communities, public health and the environment
For example, people can earn 10 ‘hoozies’ if they use public transport or cycle to work, instead of driving.
Business owners, meanwhile, are told they can can use the ‘hoozie’ app to set tasks for their staff, and then “obtain reliable measurements on participation, duration and attendance”.
Initially, the emphasis is all on the ‘rewards’ you can earn for ‘good behaviour’, but ultimately, the platform is also designed for a much more heavy handed approach.
In Sweden, they have the ‘DO’ card, which is backed by the UN, Mastercard and the World Economic Forum.
According to WEF:
“While many of us are aware that we need to reduce our carbon footprint, advice on doing so can seem nebulous and keeping a tab is difficult. The ‘DO’ monitors and CUTS OFF SPENDING when we hit our carbon max”.
The card features the slogan “DO Everyday Climate Action” and also has a piece of propaganda on the back which says:
“I am taking responsibility for every transaction I make to help protect the planet”.
It doesn’t just have to be carbon either.
The ‘digital currencies’ can be “programmed”, based on whatever “social good” government decides it wants to focus on that week – whether its ‘healthy eating’, ‘good parenting’ or ‘sustainability’.
‘Central Bank Digital Currencies’ provide governments with the perfect medium for surveillance, social control and ‘behaviour change’.
The kind of ‘full spectrum dominance’ of their people, that dictators like Ghengis Khan and Hitler could only dream about.
Queensland has suffered a massive blow to its economy due to lockdowns and restrictions to prevent the spread of the coronavirus pandemic. Recovering from this disaster will not be easy. It will take a comprehensive strategic plan to kick-start the economy and get the State moving again. That’s where KickStart Queensland comes in.
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