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Click here to download the latest New Citizen, Vol.8 No.5

Australia needs Glass-Steagall Now! Click here to find out more Click here to read about why Australia must align with the BRICS 2015 conference: The World Land Bridge Peace on Earth, Good Will towards All Men

Australian Alert Service

24th May, 2017

Oligarchy under threat resorts to terrorism

Oligarchism, rule by a few, and the nation state, based on the principle of the common good, can no longer coexist. One must be forced out. A revival of the principles of the nation state, driven by an enormous upswell within the population, is edging out oligarchism, but is also leading to an existential backlash from within the oligarchy's ranks.

Consider the stakes.

Keep reading...

Articles include the following:

  • Euro crisis returns; Italy threatens 'return to national currency'
  • Wall Street undermines Trump's Glass-Steagall commitment
  • USA and China forge new trade pathway
  • The special counsel appointment: a double-edged sword
  • Iran leaves door open for saner US policy
  • USA's actions in Syria don't match its words
  • Iran not the source of terrorism, British foreign policy is
  • Defence Department: China's Belt and Road a 'strategic threat' to Australia
  • Fresh from Belt and Road forum, Ciobo pushes TPP2
  • British economist calls objections to bank separation 'tosh'

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  • 'Free market' smashes milk producers
  • Download and distribute the A4 flyer (PDF)

    Media Releases

    19th May, 2017

    Do Big Five banks fear levy will expose derivatives danger lurking beneath their books?

    The Big Five (Big Four plus Macquarie) banks are frantically trying to get most or all of their derivatives obligations excluded from the government’s levy on their liabilities.

    The government has said the bank levy applies to derivatives, the financial bets that far exceed in size all other trades in the financial system. For instance, while Australia’s GDP is just shy of $2 trillion, the derivatives contracts held by Australia’s banks amount to around $35 trillion. Globally, official BIS figures record derivatives at around US$500 trillion (compared with US$50 trillion world GDP), but as there is so much dodgy accounting involved, others estimate them at US$1.2 quadrillion (US$1,200 trillion).

    According to James Eyres in the 15 May Australian Financial Review, Westpac, ANZ and NAB have told the government that the levy should only apply to so-called “netted” derivatives positions, while CBA has said it should not apply to derivatives at all; Macquarie, true to form, is not making its submission to the government public.

    These arguments betray real panic. “Netting”, for instance, is the ruse banks use to explain away the risks involved in derivatives gambling. They deduct, from what they owe on derivatives contracts, the amount that other banks owe them, to claim that the multi-trillions in contracts represent just a few billion in liabilities. While it may be legitimate to “net” transactions between two parties, it is bogus to apply it to derivatives. It can be compared to splitting a restaurant bill—easy among a few people, but what about a few thousand?

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    Election 2016: CEC policies and candidates

    The evidence of bail-in coming to Australia Click here to read the CEC's submission to the FSI

    Click here to download a free copy of the Australian Alert Service, the CEC's weekly publication

    Click here to find out more about the bankruptcy of Australia's Big Four


    Video features

    Click here for the CEC Report archive and downloads

    Click here to view the latest LPAC New Paradigm Weekly Report

    Click here to view the CEC's May 2013 National Conference proceedings

    Feature pages

    Feature pages

     On the 200th anniversary of his birth, learn about our nation's greatest poet, Charles Harpur

    Visit the new international Schiller Institute website: A new paradigm for the survival of civilisation

    Click here to download Oct/Nov/Dec 2012 New Citizen in Chinese

    Watch the video: Ecosystems, A Genocidal Fraud

    Find out more about Glass-Steagall

    Read the NAWAPA XXI Report here

    Read the LPAC Basement team special report

    Watch the video: 9-11. Ten Years Later

    Stop the genocidal shutdown of the Murray-Darling Basin



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