The agenda presented by the club secretary Mr. D. Brooke
Subjects presented in order
Introduction.
Under the title "Introduction" is the club secretary's opinion of candidature entitlement -- this meeting shortly after a Federal election in Australia. Following an address to members and guests by E. Caruana (represented PUP for the electorate of Barton) and thereafter a short question time. Total time for the recorded introduction approximately 50 mins.
The juxtaposition of what Don (secretary) said and later Mr. Caruana can only be termed distressing. It brings to mind the following:-
"In examining this violence, we must look behind the poor workers who are being used against their own interests. We know there is a hidden hand which preys on tribal sentiments; a hidden had which seeks to use blacks to undermine our new democracy." [ South African Government Information Website -- Address by President Nelson Mandela at Sifikile Village, Rustenburg]
Surely it would be naive to believe the subtle, and not so subtle influences, acting from on high (cf. Ephesians 6:12) only works at a "priestly class" level, as Don will have it. There must be a lesson to be learn't from the wrap-up from Mr. Caruana as he describes what over took him, since he addressed the Rockdale/Bexley group in July. Take heed if intending a political career, particularly when considering a minor party, at least in Australia.
1. Recorded Introduction:
Link to alternative site for immediate play
http://www.spreaker.com/user/5121380/tape-intro-0051-2-don-caruana-09
1st. Present.
The first screened video report was marvelous. It incorporated commodities into a monolithic sales structure by named financials (institutions). The defining of velocity trading and how the city of Detroit became a victim of "low velocity trading" -- the subject of the next presentation. The reporter likened what happened under capitalism with the controlled communist system of target achievement, the difference the means taken i.e. "financialising" definition provided. Inflation a consequence offset by cheap imports e.g. (from) China. Apparently hid masses of money a cited energy corporation funneled "financialised" money into entities, hiding these funds as stated "off balance sheets". Others took up the practice and eventually this can lead to shock-horror consequences. Stated in the case of the former (the energy supplier) "... determined trade in derivatives is actually more profitable".
Since 2003 with lifting of government regulation oligopolies have engaged in an escalation of price fixing and insider trading. A result of these practices was "book" debt "... there's a case going on against former Goldman Sachs about the sub-prime mortgages that were dumped into collateralize debt obligations and sold on to pension funds around the World.". On top of all this indexes that are manipulated" distorting investment outcomes "... of course that ends up being thrown into pension accounts, one reason why Detroit has to go bankrupt".
Discussion among members and supporters 1st. present.
Link to Google Sites ["client-asc-09/13"]
712_0053
Before the next consideration is put to screen the evenings guest Mr. E. Caruana departs.
Link to alternative site for immediate play
712_0054
2nd Present.
Author and commentator is questioned by presenter, and from the outset of approx. 20 mins. of interview the intention is to question current economic macro initiatives. Concisely, "basically what we have is debt, credit and leverage that actually runs the markets now, so that the QE, global QE is basically a giant roach motel, there's a big welcome sign outside: you can come in but you can't exit, so there's no exit strategy to get out and it's all perpetuated by excessive leverage ...".
The presenter describes how a "ponzi" like scheme arises when banks are not required to abide to Statutory Reserve Deposit (Australia etc.) Action that could be taken to counteract growth of debt. Explained, it's a misnomer to believe there's economic growth by revaluation assets when other indicators are contrary. Interestingly the interview introduces a concept once in-placed by the Fed's, the Federal Discount Rate" to control debt and falling interest rates . Now superseded since 2008 by out right purchase of mortgages and bonds?!?!
The program winds down:-
- Debt(?) to moneterize or regulate ????
- Eco. harm of integration, particularly of mineral and wheat markets as earlier described in 1st Present..
- Named titans in economics, finance and a politics both in US, UK and Southern Europe, having one thing in common i.e., they had worked for Goldman Sachs.
Discussion among members and supporters 2nd present. Link to alternative site for immediate play
712-0055
CONCLUSION with a vote of thanks for the secretary evenings events.
Link to Google Sites ["client-asc-09/13"]
712_0056
Note. Present on "Stat-ism" mentioned in the introduction did not get aired.
