Your CEC candidate will demand the following:
1. NO "BAIL-IN" The City of London and
Wall Street bankers who caused the
global financial crisis have come up with
the criminal policy of "bail-in": seize
bank customers' savings, whether in
deposits or investments, to prop up failing
banks. The bankers can then continue the
reckless financial gambling that causes
banks to fail, with the assurance that
when they get into trouble they will be
able to seize our deposits to stay afloat.
This policy is now legislated in Europe,
the USA, and New Zealand. Due to
opposition mobilised by the CEC, bail-in
has not been legislated here in Australia; however, our
bank regulator APRA has asserted it has the power to do
it anyway. This is a huge threat to everyday savers and the
superannuation of retirees. The CEC will stop bail-in, and
protect the essential banking system by separating banking,
taxing speculation, and prosecuting banking crimes. Find out more...
2. BANK SEPARATION to regulate banking and protect
depositors and the economy. The CEC will impose a full
Glass-Steagall separation on the banking system, so that
retail banks that hold our deposits will be separated from
riskier parts of the financial system—investment banking,
stockbroking and insurance. Glass-Steagall is the name
of the 1933 American law, the Glass-Steagall Act, which
for 66 years separated commercial banks with insured
deposits, from the predatory Wall Street investment banks,
so financial speculators could not gamble with people's
savings. The success of this law proved that the best way
to protect bank deposits was to stop banks from doing
anything risky; its corrupt repeal in 1999 led to the global
financial crisis. The CEC is part of a global campaign to
enact a Glass-Steagall separation in every country. Find out more...
3. ESTABLISH A GOVERNMENT-OWNED NATIONAL
BANK (like the original Commonwealth Bank) to
create public credit to invest into the productive sector
e.g. infrastructure, manufacturing, agriculture and
engineering. Find out more...
4. TAX FINANCIAL SPECULATION, instead of increasing
income taxes and the GST. More than $130 trillion per
year is turned over by financial speculators who gamble in
currencies, stocks, bonds and derivatives. A 0.1% tax—$1
in every $1,000 speculated—will raise $130 billion,
discourage reckless financial gambling, and keep money
in the real economy. Find out more...
5. CREATE AN ECONOMIC SCIENCE-DRIVER PROGRAM for future progress, using government-directed credit from
the new national bank, to fund new technologies and major
21st century infrastructure of national significance, such as a
high-speed magnetically levitated train network, and major
water and power projects. This would stimulate meaningful
and productive work for our youth and unemployed. Find out more...
6. SHIFT AUSTRALIA'S STRATEGIC POLICY TO ALIGN
WITH THE BRICS countries' global development vision.
Brazil, Russia, India, China and South Africa, as well
as nations such as Egypt, are already building major
infrastructure projects at home and abroad; they have
invited all countries to participate in this "win-win"
perspective. Australia must join their World Land-Bridge
shipping and rail network to transform our trade and
economic production. Find out more...
7. DEVELOPMENT FOR PEACE, NOT ALLIANCES FOR
WAR. The London and Wall Street power brokers who
concocted bail-in to protect their system see the BRICS
model of collaborative economic development as a threat
to Anglo-American financial dominance; therefore, their
neo-conservative political lackeys—the same people who
embroiled us in the regime-change disasters in Iraq, Libya
and now Syria—are targeting China and Russia for war,
which would be a calamity for Australia and the world.
Australia must push our key allies, the UK and USA, to also
embrace the above policies of collaborating with the BRICS
on economic development, as a real alternative to being
their geopolitical rivals. Find out more...
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