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In this week's Australian Alert Service
14 November 2018

Fight terrorism in all its forms

The modern wave of Islamist terrorism again struck Australia with the frenzied knife attack on Melbourne's Bourke Street on 9 November. In response, Prime Minister Scott Morrison lectured Muslim leaders to be more proactive in detecting and reporting extremist activity in their community. Controversial Senator Fraser Anning repeated his call for a plebiscite for Australians to vote on whether we want Muslim immigrants like the assailant, or European immigrants like his victim Sisto Malaspina.

Amid the backlash, many people would find these responses reasonable. They do not address the real truth about terrorism, however, but are a deflection. The truth is related to the report that, once again, the assailant was "known to ASIO"—worldwide, almost all terrorists in recent years have been already known to their respective countries' security services. As the AAS has exposed, ASIO is the junior partner of MI5 in the UK, which for years has run a "covenant of security" with known terrorist organisations in pursuit of shadowy domestic and geopolitical agendas (p. 13). The intelligence agencies have played with fire but it's the public that has got burnt. While politicians cast aspersions on the domestic Muslim community, they don't question the intelligence agencies. Nor do they question our relationship with Saudi Arabia, which sponsors the extreme Sunni Wahhabi terrorist ideology that is behind all of the attacks in recent times. Unless we take on these murkier issues, we won't defeat this scourge.

Tragically, we are becoming all too used to terrorism now, but Islamist terrorism is not the only form it takes. In a much more thoughtful response to Bourke Street, former Australian Prudential Regulation Authority (APRA) principal researcher Dr Wilson Sy wrote the following statement on "Banking Terrorism".

"Terrorism is defined as the use of violence, threats or fear to intimidate or coerce victims to submit to financial or political demands, such as to pay ransoms.

"There are now anti-terrorism laws in many countries, but none of these apply to banks. Yet the banks are far greater terrorists than ISIS or any other recognised group when measured by the amount of ransom they have extorted from the community.

"The banking terror is the threat of collapse of the global financial system. The mere threat by the global systemically important banks (G-SIBs) to bring down the global financial system through the contagion of derivative losses is enough to make governments and regulators submit to their demands for ransom.

"In the past decade, trillions in major currencies have been extorted through central bank 'bail-outs' to pay the ransom demanded by global banking terrorists. The usual principle of 'not negotiating with terrorists' to discourage further extortion attempts, does not seem to apply to banks.

"Sure enough, the banking terrorists continue to threaten the global financial system by reckless financial speculation, inflating many asset bubbles. This time, the terror of impending financial crises has been planned for use in further extortion, organised by the Bank for International Settlement (BIS) through crisis management regulations of the Financial Stability Board (FSB).

"Instead of ordinary taxpayers being innocent victims through 'bail-outs', the victims of the next extortion will be the creditors of the banks through 'bail-ins', which include ordinary bank depositors who are considered unsecured creditors.

"The negotiation with terrorists is being carried out by an unelected and unaccountable global banking cartel organised from Switzerland. The imposition of the demands by the banking terrorists on the Australian Government and its regulators is without proper knowledge and consent of the people.

"We must end banking terrorism now with structural separation of the banks for effective protection of the economy and the people. Terrorists of all sorts and their accomplices should be jailed."

Like Islamist terrorism, banking terrorism will not be defeated if the government allows special interests to pursue their own agenda. It is the government's responsibility to implement the structures that can protect the public, starting with banking separation.

Articles include the following:

  • Banks tell Royal Commission: Don't you change us—or else!
  • Banks and their pollies up to usual tricks with financial advice 'reforms'
  • Gas pipelines should be public utilities, not private monopolies
  • Anti-China hawks in a flap over Victoria's Belt and Road agreement
  • Midterm elections set the stage for 2020 battle
  • China lays plans for inclusive cooperation at trade expo
  • Will Modi override bankers in favour of the people?
  • Fernández: Banks must serve the economy
  • Asia Times reports refutation of China 'debt-trap'
  • Are we sleepwalkers? What have we learned from how World War I broke out?
  • Crown's MI5 set to 'investigate' far-Right extremists
  • A banking license to take deposits is a privilege!
  • May the Guns of August, this time, remain silent
  • ALMANAC: Little Round Top: Fighting for a higher cause


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