Time for a new economic order
The "informal financial empire" comprising the City of
London and Wall Street and extending through their web of
offshore tax havens and crown dependencies, which facilitates the illegal arms and drugs trades, fosters terrorism and regime-change wars, and sweeps up financial institutions worldwide, can unravel in moments if the principle of Glass-Steagall
banking separation succeeds in just one country. This would
trigger not only a run on the bubble of derivatives speculation devouring the global financial system, but a host of other nations following suit, as Rupert Murdoch's London Times
fretted, announcing in May 2018 that if Australian banks are
broken up, it would be a "precedent that could capture the
imagination of banking critics the world over".
Articles include the following:
- Senate lauches inquiry into breaking up the banks
- Canberra warned not to ape UK's failure on bank reform
- Leadership and persistence—CEC's fight for Glass-Steagall
- 'Climate action' is brutal austerity
- Brexit chaos stems from Global Britain plan
- Why the war on Huawei?
- 4,823 US banks have disappeared since 1999
- BBC blows the whistle on Douma chemical attack
- In memoriam: Rep. Walter Jones—a true American hero
- In honour of Lyndon LaRouche
- ALMANAC: Australian Banks (Government Audit) Bill 2019 Explanatory Memorandum
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18th February, 2018
Senate launches inquiry into breaking up the banks—make a submission
The Senate Economics Legislation Committee on 14 February initiated an inquiry into the Banking System Reform (Separation of Banks) Bill 2019.
This is a major blow for the banks, which had assumed that the Hayne Report from the banking royal commission, which did not recommended structural separation, would be the final word on the issue—bank shares soared on the news they wouldn’t be broken up. They celebrated too early, however.
On 12 February, a week after Hayne’s report became public, Senator Pauline Hanson introduced into the Senate the same bill that Bob Katter had introduced into the House of Representatives in June 2018. This bill was carefully drafted by the Citizens Electoral Council based on the USA’s successful Glass-Steagall Act of 1933 and the updated “21st Century Glass-Steagall Act” bill currently before Congress, adapted for Australia’s financial system.
Print latest media releases as flyers (A4 PDF)
Radio interviews with CEC Leaders