Tristan, unless the Labor Party moves back to a policy of Govt owned banks, your party is finished and so is the Coalition.

Monetary sovereignty is the very definition of freedom and democracy. Mayer Armchel Rothschild," Give me control of a nation's currency and I care not who makes the laws." JD Rockefeller," Competition is a sin." These corporate elites do not want free markets, they want absolute control since they think they know best.

Without our Govt Banks which used to create some of our new money debt free as infrastructure, we will become another 3rd world country in the Southern Hemisphere. When even our inflationary money gets created as debt, growth goes backwards because it too gets created as debt.

You said we have a $1.6 trillion economy. We on average have 3% growth + 3% inflation, so the money supply grows by 6% pa. This means our money supply grows at $96 billion pa + interest and is expressed as debt by private OS and domestic banks.

Our RBA creates no new money. China is slowing and finding cheaper suppliers in Africa and South America. We have all been betrayed by both Labor and Liberal since they are both controlled by these mega corporations. Unless we sell off resources/energy cheaply, we will have no money for our economy to function. This is why Abbott has brought in austerity ie to service contrived debt by OS central banks.

Did you know Tristan the financial market of shares, derivatives and currency trades has a turnover of $135 trillion pa? Just a 0.01% tax will raise $135 billion in taxes and solve both our debt and infrastructure problems in 5 yrs.

The problem is that all the major parties including the Greens are too gutless and like to be cute little puppets snug and warm under a fascist banking global dictatorship.

Hi SPINDOC :) You are quite a spin doctor but here is the reality http://www.marketeconomics.com.au/1343-peter-costello-speaks-with-forked-tongue-2

Arjay

'Did you know Tristan the financial market of shares, derivatives and currency trades has a turnover of $135 trillion pa? Just a 0.01% tax will raise $135 billion in taxes and solve both our debt and infrastructure problems in 5 yrs.'

Can you explain that a bit better. Are you talking globally or just Australia?

And who gets taxed, specifically?

LEGO

‘In 1965, 3% of the working age population in Australia was on welfare benefits of one sort or another. Now 16% of adults rely on welfare.’

In 1965, the unemployment rate was 1% (based on those working in permanent full-time employment). Today, the ‘official’ unemployment rate (based on those working one hour per week or more) is 6%. A six-times increase!

However, the REAL unemployment rate (based on those who want to but can’t obtain work) is 13%. A 13-times increase!

However, your solution to this – as with the Coalition and their dutiful army of think-tanks – is to demonise the unemployed, cut back on unemployment benefits and make all forms of welfare much harder to access.

For reasons that are impossible to either calculate or fathom, this will somehow make the problems of unemployment and under-employment go away. Or, to put it another way ... if you render people desparate, homeless and starving, they will miraculously find employment in an ever-decreasing job market.

That’s not economic management – that’s a combination of sadism, self-righteousness and stupidity.

I think that some people would prefer Eugenics as an option to be considered rather than their pockets ! In reality you will never get rid of Unemployment,disabilities or the feebleness that comes with old age, some you can to a certain degree insure yourself against like retirement and unemployment but a disability perhaps you may be born with one. but at this moment in time they exist and they need to survive so what do you do ? Do you turn Australia into a country with beggars littering the streets ? or do you cull these people so you can ease the financial burden that you feel is upon you and draining your hip pocket unnecessarily ? Or do you do the Humane thing and treat them with some dignity which will cost you in dollars but reward you in having a clean conscience knowing that you are helping some of your fellow human beings and not just yourself ? So what is it to be ?

Tristan

'In the meantime progressive social movements need to coalesce and prepare for the fight of their lives.'

I know it's very early days, and I don't it's sunk in yet for most people (or maybe they're still in shock!), but do you know of anything being organised at this stage?

GetUp has something going on the Medicare tax, but that's about all I can find so far. We really need something akin to the Your Rights At Work campaign, only multiplied by a mass-anger factor of at least 10,000!

Killarney, I talking about just the turnover of the Australian financial markets. They have an annual turnover of $135 trillion. With computers millions of transactions happen in a hour.
http://www.cecaust.com.au/

Remember also that our banks have a derivative gambling exposure of $22 trillion. Much of this money is not backed by real productivity or assets. World GDP = $70trillion.World derivatives = $700 trillion. The US Fed has created $16 trillion in debt for the US Govt and another $16 trillion It is a disaster waiting to bring our whole system down to a new dark age.