9 April 1976. Thought for the Week: "There are fundamentally only two great philosophies, and hence policies, in the world - Freedom and Servitude. These are inevitably in conflict. The basis of Freedom is economic rather than political independence; the latter being conditional on the former; the basis of Servitude is coercion and organization".
Dr. Bryan Monahan, in Freedom and Inflation.
PHILLIP LYNCH'S BOBBY-DAZZLER BONDS SEND UP INTEREST RATES
"Home buyers with building society loans face higher interest rates in the next three months." - The Sun (Melbourne) April 2nd.
We predicted with confidence in these pages a short time ago that one of the effects of the new high-interest bonds which Mr. Lynch introduced to "mop up excess liquidity" would be to cause the interest rates of building societies to rise. And sure enough! The Hotham LaTrobe Group, one of Victoria's largest building societies raised its rates a few days ago by 0.75%. To give an idea of what repayment and interest charges are being made now by building societies, the following should suffice: - A loan of $15,000 negotiated over 30 years; repayments $160 monthly. A loan of $27,000 over 30 years; repayments $303. A loan of $35,000 over 30 years repayments $414; again both monthly.
On these figures published in the Melbourne newspaper stated, a home buyer repays, with interest over 30 years approximately FOUR TIMES the original amount of the loan: And then the home buyer needs at least some furniture, and a family car; insurances, telephone etc., etc. Where does it stop? !
The principal reason for these staggering repayments is inflation, and Mr. Lynch's bonds are making the situation worse. Why? The newspaper states the case quite clearly: "Because of the Federal Government's intention to soak up excess money, the Society found it necessary to increase rates to compete in the financial market".
The guiding monetary philosophy of the Fraser Government (which means the Treasury, as Mr. Lynch is a Treasury man to his boot-heels) is that "the user pays". Thanks to inflation, and Mr. Lynch, the "user" (home buyer) is paying with a vengeance. Small wonder that 40% of Australians are now living in rented accommodation. This figure will progressively increase; supporters do not need to ask why.
AUSTRALIA VERIFIES LENIN'S PREDICTION
"The Fraser Government has made its first concrete gesture towards the Communist states of Indo-China". The Age, (Melbourne) April 1st.
The recorders of the history of Communism often tell of Lenin's prediction that the West would provide the rope with which it would be hanged. Or more accurately, the rope with which the Communists would hang it. The prediction is said to have been made at a meeting of the top Communist brass in Moscow in the early days after the 1917 Revolution. Those at the meeting were in agreement with Lenin's assertion that the Revolution would fail unless vast amounts of material and technological aid were channeled into the Soviet Union, but the Communist leaders present were glum. One leader, said by some to be Karl Radek, asked Lenin where such aid was to come from, and how it would be paid for. Lenin's retort was that the West would supply both the material and technological aid, and the credits to purchase it. This was the basis for Lenin's famous prediction.
That his prediction was correct is spelled out, chapter and verse, by Professor Antony Sutton in his blockbuster work - "National Suicide" Military Aide to the Soviet Union" (Price: $3.60 post free from all League offices).
Australia will make a grant of nearly $1 million for a major hydroelectric project in Laos. The Secretary of the Australian Foreign Affairs Department, Mr. Renouf, announced this at the annual meeting of E.S.C.A.P. (Economic and Social Commission for Asia and the Pacific). Yes, it's an agency of the United Nations! (Is there any supporter who has not read "The Fearful Master"? (Price: $3.10 from all League offices).
The double-talk that pours out of human hot-air vents at these meetings is enough to unhinge the most stable mind. Mr. Renouf is quoted as saying; "E.S.C.A.P. must become a more essential factor in the social and economic development of the region because the end of the conflicts in Indo-China has created fresh opportunities for co-operation, instead of the confrontation that marked many relationships in the past". We wonder how all this sounds to the parents and families of Australian soldiers who lost their lives in Vietnam?
The effort to contain the Viet Cong; an impossible effort as the American generals were not allowed to win the war; has given way to the discovery of "fresh opportunities for co-operation." Yes, fresh opportunities for Australia and the other Western countries to build up Communist countries so that they may cut our throats in due course. How the ghost of Lenin must be smiling with intense satisfaction! How the Communist leaders of Laos and other Communist nations must be choking with derisive laughter!
"Australian consumers are yards behind in the move afoot to think metric". - The Age, (Melbourne) April 1st.
Mr. Robert Parry, President of the Australian anti-Metric Association says that people are not thinking Metric, and that advertisers are now swinging back to the "old" imperial measures. Fruiterers are selling fruit and vegetables in pounds and ounces. Home and property buyers are hopelessly confused by metres and centimeters, and hectares etc. Mr., Parry is not against progress; he is a smart, modern man; a highly successful public accountant. Mr. Parry states that the adoption of the metric system is definitely not progress - just an expensive change. Expensive for the consumer; he can give many examples of increased costs to the individual consumer from metrication.
We have always "felt in our bones" that there was something phony about metrication. No one was asked about it. There was no referendum. It wasn't even discussed in Parliament. It just appeared from nowhere, and grew - like Topsy. The same with decimalisation. Who was asked about decimal currency? Were you? Was your Member of Parliament? Who was then?! It just "appeared". Some one wants decimal currency and metric weights and measures for us, and not only us. Even the U.S.A. is being pushed metric now. We say, "pushed" advisedly, for that's the real state of affairs.
Decimalisation and metrication are being pushed onto Western countries where they have not been accepted before. What do we think? It's pretty obvious; the One World advocates in the Halls of Power at the United Nations, and elsewhere, have done deals all over the world to have standardisation of currency, weights and measures enforced as a necessary step along the road to World Government.
But there is more to it than that. Mr. Parry puts his finger on the pulse; he says that the old systems grew up because the measures were convenient for those that used them. They naturally were, at least in part, a reflection of the character of the people from which they sprang, and which they served. Our currency, weights and measures are part of the tradition of our race, and what ordinary decent people feel when these "new fangled" changes are rudely introduced is the confusion induced by an attack upon our traditions. The same confusion is generated when the political subversives attack our Anthem and our Flag.
Mr. Parry believes that the metric system will prove to be outdated - there are better systems. He says that advanced computers use a 16 base system; the computers that control guided missiles cannot do decimal calculations; decimal calculations are too slow! Mr. Robert Parry is doing a first class job. He should be given support.
LONDON SCHOOL OF ECONOMICS MAN SAYS 'WATCH RUSSIA'
"Australia should not ignore the growing Russian influence in the Indian Ocean, a leading authority on Soviet affairs warned yesterday". - The Sun (Melbourne) April 3rd.
It is indeed refreshing to have one voice from the London School of Economics give warning of Soviet intentions. Nevertheless, the brand of economics, which Mr. Peter Reddaway teaches, will guarantee the very escalating inflation, which is the root cause of social unrest, which, in turn, is exploited by the agents of International Communism. We must give Mr. Reddaway full marks for his perspicacity with respect to the weaknesses of the West. He is accepted as an authority on dissent within the Soviet Union; he says the West is guilty of a betrayal of Soviet dissident groups. He thinks Solzhenitsyn is a bit too extreme at times, but that he is trying to shock the West out of its slumbers, and that Solzhenitsyn's warnings to the West of growing, Soviet might is on the ball. Let us hope that Mr. Reddaway has some impact on our own slumbering politicians.
"Axis" is a fortnightly journal of the Australian
Union of Students. It goes then without saying that it is riddled with
Communist influence, and pornography. The issue of April 5th has an
article on the disgraceful spectacle of loutishness, which took place
on the occasion of a visit to the Torrens University (South Australia)
by the Governor-General. The article in "Axis" says: -"We in South Australia
hope that wherever Kerr goes, pretending to be an unbiased figurehead
for us all to honour, that people everywhere contrive to expose and
undermine him and the position of Governor-General".
We fear that the Prime Minister, Mr. Fraser,
in groveling for the Greek vote, may be losing touch a little with reality.
It is generally accepted that the Greek vote is solidly pro-Labor, and
on the occasion of the large Greek Glendi Festival in Melbourne, Mr.
Fraser told the audience (he received a mixed reception) that the days
of Anglo-Saxon conformity were gone forever; and Australia was better
for it. Australia is a British country - still. The very traditions
and customs which molded Malcolm Fraser; wealthy rural background; Melbourne
Grammar; Oxford; the long traditions of the Westminster system of Government
- are all British. Now he says that we are better off without them.
Mr. A. M. H. Aikman, Principal of Haileybury College, Melbourne, has given us some timely words of commonsense on modern teaching methods. Teaching standards have dropped because there is confusion between better ways of teaching and easier ways of teaching. Many innovations had initially succeeded when introduced by outstanding teachers, but had flopped when in the hands of the rank and file teacher. He said that parents are increasingly dissatisfied with the results of the New Education, and want a return to traditional methods, with traditional results. Public Schools were reaping the benefit of the New Education in the State systems; more and more parents are making the sacrifice to keep their children out of the State systems of Education. Who can blame them?
Mr. Al Grassby Commissioner for Community Relations was having the time of his life at the recent Greek Glendi Festival in Melbourne. Colorfully dressed as ever (his commonly accepted nick-name is "Flash Al") Mr. Grassby spoke a few words in Greek, extolled the multi-racial society (the basis of his $36,000 a year job!) It is an old English saying that "there's nothing like leather", which is derived from the proverb: "To the bookmaker, there's nothing like leather". In other words, everyone has a strong vested interest in those things that provide the base of his livelihood. Where would Mr. Grassby be without his beloved mutli-racial society?
WarWhatever may have been the causes of war in other eras, there is little doubt that one of the chief effects which is generated by governments taking part in seemingly unnecessary wars, is that war and defence spending helps to provide employment, and to distribute money as incomes. For some mysterious reason credit always seems to be available to governments for war and defence spending, even when it cannot be obtained for more worthwhile objectives.
It is being admitted, more and more openly, that some apparently affluent economies now depend to a frightening degree upon defence spending to help maintain full employment and to distribute incomes. Dr. Peter Russo, in a broadcast talk in 1968 (May), said: "World War 2 cured the Depression of the thirties, and military financing kept the American economy in fine trim until the cutback after the end of the War. This recession was, in turn, cured by the War in Korea, and since then, the war business has never been better".
In recent years defence expenditure has accounted for approx. 15% of total Federal Government expenditure. More than half of this amount has been spent within Australia, and to this extent has helped to provide employment and distribute incomes.
"On Target" is published by the Australian League of Rights, Box 1052. G.P.O. Melbourne 3001.