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The New Citizen Extra; John Howard's Father: A Member of the Fascist New Guard
The New Citizen Extra
December, 2004

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Following rather uncharacteristic warnings last week by Treasurer Peter Costello that families should exercise restraint when buying gifts this Christmas and should give their kids love instead, The Age (Dec 6) featured two noteworthy articles under the banner headlines: "Behind the facade of our miracle economy" and "Fears over holiday credit binge".

The articles tell how Australians are now in debt to record levels and we owe about $1.63 for every dollar we earn. Our savings are at record low levels and the money lent to us by our banks is, in turn, borrowed from overseas. Reserve Bank figures show that in 1992 household debt was 56 per cent of income. At the end of 2002 it was 125 per cent and now it is equivalent to around 150 per cent. Between 1992 and 2002 the average mortgage went from $82,000 to $175,000, income rose about 40 per cent but jobs became increasingly casual or part time. Over the year to September, credit card debt blew out by more than $3.15 billion, hitting a record $27.95 billion. Almost $70 out of every $100 owed was clocking up interest, with some cardholders paying rates as high as 20 per cent. Ten years ago the average credit card debt was $794. Today, it's $2481. The credit card binge comes on top of Australia's home borrowing boom. Over the past four years, housing debt has almost doubled to $603.6 billion.

The author of one of the articles sums up his assessment of today's economic miracle by taking a leaf out of Lyndon LaRouche's book and writes: "Gregor Alexandrovich Potemkin was an 18th century Russian military leader, politician and lover to Empress Catherine the Great. His name comes down to us partly because of his construction of elaborate fake villages in the Ukraine and Crimea for Catherine to see during her royal tours. She was apparently unaware that the prosperity was a fake."

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The New Citizen Extra Vol 5; Government Plan to Slash Health Care, Murder Australians!

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It is no accident that we have just published the most truthful and hard-hitting account of the actual global dimensions of this looming economic crisis, at the same time our brainwashed politicians and establishment-trained economists are just waking up and looking at the tip of the iceberg in merely "Australian" local terms. The crisis is much bigger than Australia and for the sake of our nation and the world, it is imperative that people find the courage to look at that reality now, and begin to fight for the only possible solution in existence today—Lyndon LaRouche's New Bretton Woods.

We need you to help us build CEC's new FORCE 1000 of active supporters who will in turn create the Movement to turn this mess around. Read the enclosed copy of our New Citizen Extra, share it with your friends and neighbours, and call us on 1800-636-432 if you would like to order some extra copies to get out in your local area. 

Get the NCE out in your local area to the following people and places:

*Financial Institutions, *Insurance Companies, *Hospitals, *Ambulance Stations, *Doctors, *Nurses, *Local Councillors, *MPs, *Church Leaders, *Industry Groups, *Unions, *And to anyone else who is willing to read and think.


Act potently this Christmas because,
The best chance we can give our children is the certainty of better conditions and the sweetest memories of us to them, the fact that we did so.
(William Guthrie Spence)



US dollar crash signals final meltdown; LaRouche's New Bretton Woods only solution

Panic has broken out among governments around the globe, over the collapsing US dollar. The plunging dollar is temporarily relieving the US current account deficit, which is at a record 5.5 per cent of GDP, by allowing it to import US$5 billion in cash per day to finance the deficit. Compare this short-term benefit, to the cost, which is the bankruptcy of the entire US dollar-denominated global economy. China, which holds $350 billion in US cash reserves and Russia, which holds $100 billion, are watching their cash savings disappear in front of their eyes. They are threatening to offload their US dollars, in favour of euros—an act of insanity which will collapse the global financial system entirely. But the alternative, to those nations, is national bankruptcy.

THE ONLY SOLUTION IS LAROUCHE'S NEW BRETTON WOODS global bankruptcy reorganisation proposal. This crisis is the culmination of 33 years of unbridled speculation in stocks, bonds, derivatives and currencies unleashed by US President Nixon's 1971 decision to bow to George Shultz's demand to take the US dollar off gold, and end the Bretton Woods system. The recent explosive book by John Perkins, Confessions of an Economic Hit Man, has blown the whistle on how George Schultz, Robert S. McNamara before him, and the current crop of neo-cons in the White House have driven US foreign policy as a tool to facilitate unchecked economic looting of the entire world's resources, to feed the imperial power structure that he identifies as the American Empire. LaRouche has corrected Perkin's assessment, in that it isn't the American Empire, but the modern incarnation of the Venetian oligarchical complex centred in the City of London, and operating as an Anglo-American nexus, but the essential point is correct: the post-Bretton Woods system has allowed unchecked looting, and brought the world to bankruptcy. The only choice nations have if they are to survive, is to adopt LaRouche's New Bretton Woods proposal.

Australia loots, and is looted

Currently Australia is firmly aligned with the Anglo-American imperialists, to the point of actively participating in the acts of military aggression which enforce the looting policies, as in Iraq. Howard's sadistic refusal to sign the non-aggression pact with ASEAN this week, which is basically a commitment not to bomb our northern neighbours, is because he is reserving our national "right" to pre-emptive strikes. The Government's official line is that it doesn't want to undermine Australia's ability to engage in East Timor-style humanitarian interventions in the future, but even that official line gives the game away. Australia is currently blackmailing East Timor to force it to give up its legitimate claims to billions of dollars worth of natural gas, an oil grab which the CEC charged in 1999 was the Australian government's agenda all along—the humanitarian reason was pure propaganda. In other words, Australia's East Timor intervention was an economic hit-man operation, and we are reserving the right to do it again, and again.

The irony is that the nation of Australia is being looted as much as any of the countries we are helping to loot. Our own natural gas, oil, coal and other resources are all foreign-owned and controlled, and being shipped overseas like there is no tomorrow. Our own current account deficit is now a whopping 6.5 per cent of GDP, much worse than the US!

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