J.G.Olsen / Financial Expositor
Various higher-ups from the Reserve Bank of Australia are planning on research tours to study how their rapid interest rate rise policy is damaging the economy and impacting on the lives of ordinary citizens, some of whom are being driven to the wall.
Inflation was of course produced by years of money-printing (borrowing from reserve banks), and this made the value of certain currencies of the world drop, to a point where the Oil Producing nations would not supply their product without a hefty price increase, which broke the dam wall holding inflation back. Now the instigators of inflation (politicians) try to blame the war in Ukraine and tell us the solution to all of this is to increase mortgage interest payments to banks.
It is abject nonsense.
How these ineffective and functionally useless business leaders and academics on the RBA board can show their faces on the evening news is beyond me. Ultimately all they do is to ape the moves of the US Federal Reserve.
The purpose of raising interest rates is to “bed in” the inflation they caused, originally by handing over so much freshly printed money to governments, whose officers complement and various liabilities continue to increase as a result, of course at an exponential rate. According to them, the only way to explain this “unexpected” outbreak of inflation is supply chain disruptions brought about by their own Covid program and the nonsense excuse of the Ukraine war. So for this, mortgagees and following on, tenants, must be punished.
It’s the old blame the victim, which is based on the very common cause-and-effect inversion, which usually satisfies people who don’t know any better.
In another example of this, the Western medical fraternity is especially fond of treating the symptoms, which creates new symptoms, and keeps them in business. In physics and science fiction, they have “retrocausality” which is functionally useless, the correct and most advantageous place is for this type of thing is always in politics where it might have value in deception. There are so many forms of lies, they would fill a book. People as a whole often struggle to understand the reasons for things.
Former PM Paul Keating’s grandiose statement, “We have broken the back of inflation”, came after the inflation of the 1970’s and 80’s was bedded in by massive interest rate hikes. These wrecked the housing market’s prospects for some years and paved the way for former PM John Howard’s various house price boosters. The market was saved! He went on to tell us many times, how rising house prices made everyone happy. Before mid-2000, I can recall a farm for sale in Bunyip, south-east of Melbourne for $20,000 which couldn’t find a buyer. Now, it would sell instantly for ten times that. Under PM Howard, the broken back of inflation was simply transferred into housing. Wages kept eroding relative to everything else except Chinese imports, and this is the effect of diluting currency, which had been going on for decades. It’s wage theft, slow and stealthy. Former PM Bob Hawke had already nobbled the unions.
Some like to think a new BRICS gold-backed currency would save us from dilution, this would likely only be possible under a totalitarian regime, such as the digital prison currently underway.
The government is always at pains to quickly point out that they are “at arm’s length” from the rate increase decisions, but clearly, their arm is long enough to get into the RBA’s pocket and pull out the money.
For some light relief, a few minutes of pork barrelling in East St Kilda is of interest.
The frantic, excessive money printing has been policy since post-GFC, the Obama era Quantitative Easing, another fanciful name for the same old thing, dilution of currency and funding of selected interests.
The early beneficiaries are those closest to government, captains of industry, and those quick off the mark. Recall Kevin Rudd who heard about the moves to privatise the Commonwealth Employment Service and positioned his wife to capitalise on that, reportedly earning her $200 million by the end of the operation.
Government exists, amongst other things, to deliver gifts and favours where required, for the benefit of government office holders.
After those closest to government were drenched with money, they set out to spend it on yachts, mansions, old paintings, and whatever indulgences were available. Eventually, this flowed on in part to the lower classes who finally found their services in demand. Government largesse continued in the form of things like the NDIS, a compensation scheme for vaccine-injured children and other disabled. The inflation pressure slowly built, and finally increases at the petrol pump were the unifying trigger.
The RBA itself has no special reason to want to slow the economy and damage the lives of the marginalised, except to bed in the reduced value of their money, which is what happens when interest rates go up. They actually add to the forces driving prices up until the economy stalls, leaving the dollar at a new level of worthlessness while forcing the unfortunate out of their houses and into some form of inferior accommodation. Nobody in the Reserve Bank will ever be personally affected so it doesn’t matter quite so much, and nobody in government need be affected if they simply hang on to their job with grim desperation, as they are expected to. Public servants can relax knowing that eventually they will have wage adjustments and pay grade adjustments to match the increasing worthlessness of the money used to pay them.
Inflation is like a wave that builds up and comes into the beach, washing all the sand around, but then has to go out again, and sucks the hapless out with it. The entire cycle must be completed, for the money printing to start all over again. The RBA analogy, that their interest rate increases are like shooting bullets at inflation, is nonsense.
While RBA delegates are planning their government-funded jaunts, booking their charter flights, salivating over hotels, and so forth, Globalist Climate Change heroes are doing the same, having endless meetings to try to get themselves into the frame of appearing to do something.
In fact, everything has already been done by technologists and industrialists who have produced so many solar panels in the last decade. The end users who buy and install solar panels have done the work while the government has created nothing except “churn”. We pay tax then we perhaps get some tax back for installing solar panels.
Meanwhile, other branches of government, such as Bodies Corporate try to prevent individuals from installing solar panels. This clash of purposes helps to drive up the size of government, which adds protection to those at the centre and top, who try to delegate any responsibility they possibly can, downward, sideways and outwards.
By now, not so many people believe the CO2-induced Global Warming story, so Climate Change was speedily invented and this also requires a vast number of exotic conference experiences for the chosen few. A new gas has been found to replace CO2 (which itself replaced carbon monoxide by stealth) and this is methane. However, with accelerated self-interest at stake, ranchers discovered that feeding cows seaweed would stop excess methane production. Presumably, they already knew.
While the next replacement gas is sought to blame for weather events and theoretically destroy us all, Bill Gates has not been snoozing. He is now backing cures for cow flatulence to replace abundant natural seaweed, and as you can probably guess, we won’t be safe from the atmosphere until every cow in the world has been injected or otherwise treated. There are more than one billion cows in the world, and in Australia there are more cows than people. The World Health Organisation will be kept busy chasing down cows for their transformational synthetic bromoform and other treatments, potentially with ongoing boosters schedules and if the animal trials for the humanity-saving mRNA treatments are anything to go by, it will be no obstacle if the treated cows end up dead.
According to this story, the ozone layer will possibly be wrecked as well:
Vaccine for cow flatulence is the holy grail:
The objective of factory farming is to feed animals any sort of rubbish obtained as cheaply as possible to produce a marketable product; these materials are as far removed from the animals’ natural diet as processed and prepacked food is from a healthy human diet.
Many will recall Mad Cow Disease, and such possibilities are no obstacle to profiteering, Creutzfeldt-Jakob disease is the human version:
Seems a high price to pay for Global Warming which so far has evidently been making us cooler. In Melbourne, it is the height of summer and we have just had snow in the ranges.
From fallscreek.com.au Friday 2nd February 2023:
MIN, MAX, PRECIPITATION, OUTLOOK. Friday, -2, 1, 80%, 1-5mm, Mostly cloudy. Mix of rain, snow and sleet. Fresh NW winds.
North west winds – note: that would be straight off the desert in the hottest part of the year.
Now, a conference in midsummer in the snow, would be an experience worthy of posting on social media, and could probably be caused by Russians eating cabbage soup.