The sale of public assets in Australia is an ongoing disaster.
The sale of essential services to foreign governments quietly continues – Singapore being one of the main beneficiaries.
When China is said to constitute our greatest military threat and a sale to its government is proposed, we move into the realm of insanity.
Has Canberra become a city of silos?
Scott Morrison is right to overrule our NSW “Fire Sale” premier on the lease of our power grid to a Chinese Government agency. Canberra was very remiss in not overruling the NT rabble government’s lease of the Port of Darwin to a Chinese company.
Essential services are far more important to our security than private land holdings like those of S.K. Kidman and Co.
The sale of the Commonwealth Bank by Messrs Keating and Howard must rank as the most stupid economic move in Australian history. It’s sale netted our Government $7.8 billion. This month the same bank announced a profit of $9.45 billion.
Over the 19 years since the sale it has announced profit totaling $90 billion!
The board of a company making such a move would be lampooned and sued by shareholders.
Government abandoning CBA control finished any constraint on the other banks and we’ve seen the closure of their local branches all over Australia. No government can control its economy if its banks and credit creation are privately owned.
The prime minister has yet again illustrated this with the customary, futile rant at the failure of the banks to pass on interest rate cuts. To call the four managers before parliament once a year is laughable. The banks control our government.
As Mayer Rothschild said two centuries ago: “Permit me to issue and control the money of a nation and I care not who makes its laws”. Even Menzies said: “There can be no independence without financial independence”. Our PM, as a former merchant banker and Goldman Sachs chairman, knows this. A Royal Commission might uncover how much of CBA (and our other big banks) are now foreign owned. The sooner it is called the better. Near where I live there is a Chinese-owned wind farm. Our Federal Government pays that wind farm company a clean energy subsidy of $50 million every year. We are also paying more for the electricity. Is this good business for our balance of payments? Has DFAT spoken with Treasury about the removal of drought freight subsidies during the loss of 20 per cent of our cattle herd – a removal that ensures lower beef export income for the next 10 years? This is policy madness from a lot who claim that we will be the “Food bowl of Asia”! I have great respect for China and their 4000 years of amazing achievement.
They have rarely been an aggressive people and I don’t believe that they will attack Australia. I have no respect for our current policy shambles.
