NSW State Office

Phone 02 97092332

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Our economic gurus have spent a lot of time pontificating on the global financial crisis, which none of them predicted, but they neglect to tell us that the world's financial systems collapsed because they have for decades been based on fraud and deception.

Financial institutions, unlike all other businesses, have never had to take liability for the outcome of the "products" they market.

If you take a loan out with a bank, and you default, the bank can take your property to recoup its losses, but if you lend money to a bank which, is what you do when you give them your money to invest, and the bank goes bust, you can't take their property and sell it to recoup your

losses, because they haven't got any, having lent out more money than they have.

If that's not fraud and deception what is?

Governments ought to also explain

why they can bail out banks but won't bail out the farmers and manufacturers who have been put out of business, not by greed but the misguided policy of free trade.

Doesn't bailing out the banks fly in the face of the economic rationalist theory that inefficient businesses must not be propped up?

One Nation says there would have been no global economic meltdown if financial institutions had been properly regulated, and governments should give charity to the victims of the banks' excesses, not to the banks themselves.

Governments must also in future prevent lenders giving loans to people who will never be able to repay them, and make the directors of financial institutions liable when the investment schemes which they market fail.

Statement issued October 31, 2008 on behalf of One Nation (NSW Division)

Kate McCulloch who you will have seen on the news campaigning against the islamic school in Camden has joined One Nation. She said she

looked at all the political parties and decided One Nation was the one that most coincided with her values and her ideals .Kate will be a real asset to the party.

Qld State Hansard 8 October 2008

MOTION: RESERVE BANK, INTEREST RATES

(5.56 pm): I rise to speak in support of the motion moved by the member for Gladstone that the federal government show leadership and ensure that full interest rate reductions are passed on to borrowers. This is especially so today when we have a rapidly worsening worldwide financial crisis and it is having a very harsh impact on many Queenslanders.

This situation epitomises the downside of globalisation, which the major parties have insisted on applying to this state and country. There have been many benefits for the megacorporations, as we have

seen many years of massive executive salaries paid and huge corporate profits, especially in the banking and financial sectors.

Globalisation has benefited only a very select few at the top end of town

while average Queenslanders have paid the price in many lost jobs and industries—ranging from tobacco to seafood, to manufactured goods, to customers service centres and so on. Imports now rule.

The national average wage is more than $50,000 a year, yet in Queensland many people are still

earning only $30,000 to $35,000 a year and others earn much less than that. Although the average Australian has paid more and more on their home loan for years now with interest rates increasing for most of the last seven years, the banks have kept hauling in the profits. For example, as the member for Gladstone has already stated—and I will repeat it—in 2005 the ANZ announced profits of $3 billion and, in 2006, consolidated profits of $3.6 billion and last year, $4.1 billion.

The Commonwealth’s profit was $3.4 billion, $3.9 billion and $4.4 billion respectively. Last year the NAB had group profits of $5.57 billion and Westpac had consolidated profits of $3.4 billion.

All the experts kept telling us that the economy was sound and stable. The

Reserve Bank of Australia in its Financial Stability Review of March last year stated—

It is difficult to dismiss the view that the world economy is more stable than in previous decades. It is clear that while things were good the banks and other lenders took the chance to rip every cent they could out of the average family. They even increased their interest rates beyond the RBA settings.

Now that things are going badly, our financial institutions continue ripping off ordinary Australians. For example, they are going to take the latest RBA interest rate cut and keep

20 per cent of it for themselves. I note recent reports that Australian households have lost the gains of the past three years in terms of household net worth. Yet it is Australian householders, especially those with mortgages, who are being

told that they have to keep on paying to prop up the banks. Even worse, not only are the banks pocketing a slice of this latest interest rate cut but our federal Labor government is not even putting pressure on them to do better.

It is the deliberate globalisation of our financial systems, our markets

and our entire economy that has left ordinary people carrying the can for the unlimited greed of big business. America, the home of free market trading and capitalism, has now nationalised its two major home lenders and nationalised nearly a trillion dollars of its financial system’s debt. It is the American situation and our exposure to it through globalisation that is dragging down the economic health of this nation. Only blind Freddy could still believe in the system that has led us to this financial precipice.

This current crisis is a stark lesson for all believers in globalisation and free markets. While things are good a few might benefit and a very few might even become unimaginably wealthy. However, when it goes bad it is the mums and dads, the youngsters just starting out and the average working Queenslander who pays the price. I do not believe one cent of public money should be paid to keep any bank or financial institute afloat while that organisation continues to reap mega profits and while its executives, whose decisions have created this chaos, continue to pocket multimillion-dollar salaries. Let the high-flying executives give up their obscene pay cheques in the interests of saving their companies and then perhaps the public might be prepared to help them out.

However, as was reported in the media in recent weeks, the rescue packages are all about protecting corporate profits. That was spelt out in a recent newspaper article which stated, ‘ANZ this week warned its 2008 earnings would fall by up to a quarter’ and later ‘...but also held its forecast for profit to double by 2012’. The same article later states, ‘UBS sees net profit for the big four banks, ANZ, CBA, Westpac and NAB, in the year to June 30 falling by 6 per cent to a collective $15.33 billion, but rising by almost 10 per cent in fiscal 2009 to $16.82 billion.’

I believe there is no good reason—it is just greed—for the banks to keep

part of the latest interest rate cut for themselves. They are not doing that to save their companies; they are propping up their profits. That is globalism. That is what happens when greed is king and obscene levels of profit are protected at the expense of average folk and the people are reduced to being slaves of corporate greed. I support the motion moved by the member for Gladstone.

Goldman Sachs is on course to pay its top City bankers multi-million pound bonuses, despite asking the U.S. government for an emergency bailout.. The firm's 443 partners are on course to pocket an average Christmas bonus of over £3m.

Malcolm Turnbull's ascent to the role of Leader of the Opposition should only be seen as a good thing by those who think it is a tribute to Australian democracy that anyone with spare $600,000 to campaign with can win a seat in parliament.

Despite the hype by his media and Liberal Party supporters his credentials to be either Leader of the Opposition or Prime Minister are weak.

The much-lauded case he ran for publication of "Spycatcher" was a great embarrassment to the British Intelligence establishment and MI5, but they are supposed to be our friends, with who we now seek close co-operation in the so-called "war on terror". If Malcolm Turnbull ever becomes Prime Minister of Australia the British might well think "With friends like

that we don't need enemies".

He is admired for his success as a merchant banker, but it was the avaricious multinational banking

fraternity that brought us the latest disastrous global economic meltdown.

The fact he once was a business associate of former Labor Premier Neville Wran seems to call into question his real devotion to the free-enterprise, conservative Liberal cause.

The Liberal Party once stood for freedom, but the main freedom that seems to interest him, and a lot of other Liberals, is the freedom to make money.

One Nation also asks, if he is as smart as his supporters say he is, why can't he see through the hoax of global warming?

He boasted after the 2007 Federal Election that his seat had a swing in the Liberals' favour, but the Liberal vote in Wentworth in 2007 actually declined. In 2004 the real Liberal vote was the sum of his 40.27 % and the disendorsed Liberal Peter King's 15.67%, totalling 55.94 %, therefore his 50.37 % in 2007 represented a decrease of 5.57 %. Sitting on 50.37 % with the Greens and Labor totalling 45 per cent means he only has to alienate a small

percentage of the diverse range of Wentworth Liberal voters, such as those who don't like his republican views, to lose the seat.

Which is one reason the Liberals will regret the day they ever gave Malcolm the reins of leadership.

Statement released on behalf of One Nation (NSW Division)

In the NSW Local Government Elections on September 13th, former One Nation Bankstown Councillor Lynn Abrahams scored 10 per cent as an independent in the South Ward. Bob Vinnicombe, President of the Reid-Prospect Branch of One Nation, scored 6 per cent as an independent in the North Ward. Former One Nation Campbellton Councillor Bob Thompson was elected to Campbelltown Council representing the Liberal Party. One Nation candidates will be able to stand in the next local government elections as One Nation.

Norm Mitchell, of Brighton-le Sands, who had been member of One Nation since it inception, passed away in Sutherland Hospital on 6th November, aged 92. Six One Nation people were among the very large crowd at his funeral which was held at St Andrews Uniting Church in Brighton-le-Sands, where he had been a member of the congregation, followed by his burial at Woronora Cemetery.. Norm had always been a dedicated and knowledgeable member of One Nation., being particularly interested in promoting the potential of alternative energy sources such as hot rock for power generation and the compressed air engine for cars. Norm had a distinguished military career in the 7th Division Engineers. He served in both the Middle East and Papua New Guinea in WW2.

The poisoned dairy products being sold in Australia that were manufactured in Communist China would never have arrived on our shores but for the misguided doctrine of free trade.

The easiest way to protect our farmers and manufacturers from oblivion, not to mention ourselves from being poisoned, is to ban food imports from countries that don't have the same stringent safeguards for quality that we have.

So far, courtesy of the promoters of free trade, among imports from Communist China we have had toys covered with lead paint, toothpaste containing anti-freeze, blankets contaminated with formaldehyde and now chocolate and milk products deliberately contaminated with melamine.

What is this death wish which pushes us to lumber ourselves with second-rate products while we run our farmers off the land and close down our factories?

Europe now protects its food producers because Europeans starved in World War II.

If we close down our farms and become dependent on imported food, come another war and we will starve too.

One Nation says: "Buy Australian, boycott imported food products that can be grown or made here and give our country a future".

Statement issued October 1st, 2008 on behalf of One Nation (NSW Division)

ATTORNEY-GENERAL Robert McClelland has warned that a terrorist attack in Australia is as likely to be committed by a home-grown cell as it is from an overseas group. "It is my view and the view of many experts that we have as much, if not more, chance of a home-grown terrorist in Australia as any members of a foreign cell being awakened," he said at a recent meeting.

Earlier, McClelland outlined ways to prevent terrorist cells developing in Australia. As well as what he called the "touchy-feely community aspect" to understand what leads Australians to radicalise, finding out who is indoctrinating them and working to bring them back into mainstream society McClelland said Australia's legal framework needed to improve and intelligence agencies should coordinate better.

McClelland said in response to a question about the Hezbollah-run TV station al-Manar, that he had requested a meeting and report from the Australian Communications and Media Authority. And he added that his Department was investigating whether legislative changes need to be made to allow for prosecution of those who incite violence via channels, such as al-Manar.

(Aljazeera) A Somali girl who said she had been raped was stoned to death on October 27 by dozens of men in a stadium packed with 1,000 spectators in the southern port city of Kismayo, Amnesty International and Somali media reported, citing witnesses. Amnesty International said in a press release that the victim had been 13 years old - not 23 as earlier reports had suggested. The armed group in charge of Kismayo had accused her of adultery after she reported that three men had raped her, Amnesty said.

Just two days after the end of British Summertime, the first snowfall of the season turned large swathes of the country white . Even London was hit - the first time the capital has seen snow in October since 1934. The Met Office's John Hammond said that the cold snap resulted from air travelling south from the Arctic.

from Epoch Times [ignored by mainstream media]

Lighted candles flamed all over the world Saturday evening. November 22nd to mark the 75th anniversary of the Stalinist killing by starvation of at least 10 million Ukrainians. Between 1931 and 1932, Joseph Stalin, who had lusted after the rich wheat harvests of the kulaks – but also after their land which he wanted to make into collective farms – had his goons confiscate the entire wheat harvest. This was done by force, and nothing was left for the farmers or their families. They had nothing to eat. The wheat was sold by Russia to western countries for a huge profit.

Tragically, and ironically, 1933 saw a bumper crop of grain ripen in the Ukrainian steppes. But by autumn, harvest-time all over Europe, no one was left to gather the precious sheafs of wheat. Stalin had exterminated 10 million Ukrainians by forced famine.

More than 10,000 names and addresses of members and former members of the British National Party (a party similar to One Nation) were posted on the internet recently by an unidentified hostile force. Not only their addresses but also hobbies and occupations were published. It will come as a shock to One Nation people to learn that members of the BNP on the list who are prison officers or in the police force stand to lose their jobs thereby as in a blatant act of discrimination the British Government bans BNP members from either of these occupations. The publication parallels the hostile publication of names and addresses of One Nation members more than ten years ago in a similar intimidatory act. Publicity Officer for One Nation, Bob Vinnicombe, has sent a communication to the BNP suggesting publication of the list should be regarded as an act of political terrorism, but that it would probably mean more votes for the BNP as a result of outrage on the part of the British public.

The State Executive has set a new introductory $10 membership fee, including GST, for new or lapsed members., so if you know any one who would like to join or someone who was a member once but has not renewed for a few years tell them.

Cook-Hughes (Sutherland area) second Wednesday every month Sutherland United Services Club corner East Parade & Oxford Street Sutherland. 7.30pm .Contact President Richard Putral 95245396

Singleton Branch Afternoon of the second Sunday every month, at 12pm, includes barbecue (byo meat) contact President Jim Cassidy 65734207

Central Coast Wyong Branch ring secretary Pat Roberts 43881340 or President Milton Alchin 43284652.

Nowra Kay Bounds 44488284

Kogarah Rockdale informal meeting third Thursday 7.30pm every month Bexley RSL contact Stephen Bodnar 95882929.

Forster-Tuncurry area Charles & Alison Griffiths 65546907.

Tamworth Ray Forge 67609803.

Georges River Judith Newson 0427071022

Reid-Prospect (Auburn-Bankstown Fairfield etc) Bob Vinnicombe 0407949963 / 96454910.

Contact us if you want to advertise your branch meetings or events .

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Newsletter prepared by Bob Vinnicombe, Publicity Officer 0407949963 / 96454910. Bobvinnicombe@gmail.com

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