Citizens Electoral Council of Australia

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Citizens Electoral Council of Australia

Media Release  Wednesday, 27 November 2013

Craig Isherwood‚ National Secretary
PO Box 376‚ COBURG‚ VIC 3058
Phone: 1800 636 432

Goose-stepping, fist-pumping Joe Hockey proclaims: austerity over democracy!

Treasurer Joe Hockey in an April 2012 speech in London demanded democracy must not obstruct deep cuts to government spending on health, education, and other essential services, revealing himself to be in lock-step with those who are orchestrating a revival of 1930s-style fascism to manage the present global financial crisis.

Hockey’s address to London’s Institute of Economic Affairs pre-empted Wall Street giant JPMorgan-Chase’s May 2013 complaint that the explicitly anti-fascist measures in the post-WWII constitutions of many of the nations of Southern Europe, intended to ensure there would be no return to fascist dictatorships, are now the major obstacle to closer European monetary integration.

In his speech titled The End of the Age of Entitlement, Australia’s future Treasurer defined entitlements as government spending on “education, health, housing, subsidised transport, social safety nets and retirement benefits".

He then made it clear he shares JPMorgan’s resentment of “democracy”, for getting in the way of their definition of sound economic management: “As we have already witnessed, it is not popular to take entitlements away from millions of voters in countries with frequent elections.”

Ah, but, Hockey continued, it is absolutely necessary, because: “Entitlement is a concept that corrodes the very heart of the free enterprise that drives our economies.”

(Somehow, Joe failed to mention the corrosive effects of the $1.4 quadrillion global derivatives bubble, from which his wife Melissa Babbage made millions trading for Deutsche Bank, and which imploded the global financial system in 2008.)

Hockey’s solution is a strong government that can resist democratic pressures: “A weak government tends to give its citizens everything they wish for,” he said. “A strong government has the will to say NO!”

Except it’s not the government that’s strong, it’s the multinational bankers whose lending to governments Hockey believes entitles them to dictate government policy:

“In today’s global financial system it is the financial markets, both domestic and international, which impose fiscal discipline on countries,” Hockey said. “Lenders have a more active role to play in policing public policy and ensuring that countries do not exceed their capacity to service and repay debt. This is playing out most dramatically in Europe where the European Commission and the European Central Bank are either directly or indirectly heavily influencing public policy in Greece, Italy, Spain and Portugal to name a few.” [Emphasis added.]

Finally, Hockey made it clear to his audience of Margaret Thatcher fans that he knows his demands will cause poverty and social unrest (which he didnít repeat during the recent election): “It is likely to result in a lowering of the standard of living for whole societies as they learn to live within their means. …Already in the UK and parts of Europe we have seen the social unrest that can result when fiscal austerity bites. But the alternative is unthinkable. Adam Smith’s free hand is perfectly capable of forming a fist to punish nations who ignore the fundamental rules,” Hockey menaced. [Emphasis added.]

Citizens Electoral Council leader Craig Isherwood today charged, “Joe Hockey is a thug for the global financial interests who are ruthlessly consolidating their power over national governments by dictating austerity and policies such as ‘bail-in’.”

“He isn’t genuine about financial management. If he was, he’d ban derivatives, he’d impose a Glass-Steagall separation of essential banking from the financial speculation in derivatives that has bankrupted the global economy, and he’d establish a national bank, like the original Commonwealth Bank, so the government would have no need to borrow from private banks.”

Isherwood concluded, “Hockey expects to achieve his agenda, including Cyprus-style bail-in legislation so deposits can be confiscated to prop up banks, because the ALP are sell-outs to the same banks that own the Liberals.

“The CEC is the real opposition. Australians who want to fight must join us.”

Click here for a free copy of the CEC’s 2004 New Citizen Special Report, “Defeat the Synarchy, Fight for National Bank”, which documents how bankers associated with the Bank for International Settlements orchestrated the global rise of fascism in the 1930s, including in Australia, in the form of secret, para-military armies, whose personnel overlapped the political forces which later formed the Liberal Party.

Click here to join the CEC as a member.

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