There are a few simple reasons why the entire "free world"...

There are a few simple reasons why the entire "free world" financial system is coming to a screeching halt. For those who say it isn't explain why there are riots outside the ECB, on the streets in Spain, France, Canada......

How our economy used to work: there was a Reserve Bank set up and every state had its own bank.

The banks created and issued money with the borrowers having to pay interest which went to the government owned bank. The RBA could print currency as and when needed with the only constraint being controlling inflation. Exchange rate didn't matter because there was no such thing as a floating currency.

Then the welfare society was introduced and the former producers and non producers were gifted money to sustain a certain level of existence. This money mostly ended up back in the economy and actually stimulated the economy as much of the consumed goods were made in Australia.

What has since come to pass is that the currency has floated (there are only a few thousands of punters globally who bet on the exchange rate. Of course there is a lot of push to get more people to do it.

Manufacturing has been progressively sold off or sent overseas so that the free welfare money no longer just stimulates the economy but has to go offshore to pay for the imported goods or profits for the foreign owners.

The state banks were all sold off so that states could no longer issue debt finance and so profit the state. Last budget in WA I heard the treasurer say that 50% of all state revenue came from property taxes. I am willing to offer odds that the same happens elsewhere in Australia if it is still legal to have a friendly bet in Australia. This explains why the bubble housing market has to happen and they will import the entire world's population to sustain it. TREASON AT ITS FINEST

The RBA has been stolen as explained by the Federal Treasurer not so long ago when "I had to give $8.5 Billion to the RBA to shore up its balance sheet". That is totally nonsensical unless SOME TRAITORS have actually stripped the money creation powers from the RBA.

Selling the CBA for a short term gain has resulted in a few thousand shareholders, many of which hold no allegiance to Australia getting the profits for so long as CBA stays listed.

Progressively RAISING WAGES AND PRICES (where are those words written) has resulted in millstones around the necks of the domestic population and right along with it DECLINING BIRTHRATES.

In WWI, some 42% of the entire eligible male population served in what was a totally VOLUNTEER ARMY. All Australians from every walk of life including many Aborigines volunteered. How long until there are not even enough Australians left to defend Australia from within?

Forget the "POLITICAL CLASS" who fail to represent their electorate in so many ways as required under their duties. SUBVERSION, TREASON and WHOLESALE THEFT OF THE COUNTRY has been going on now for at least a generation. WHY, tomorrow, the good people of NSW have to choose between SELLING THE STATES ASSETS TO CHINA or TAKING ON MORE FOREIGN DEBT. The unborn of Australia might be well justified in pushing for Euthanasia to get rid of the "old people" to save the government money. That will be going on while the ELECTED REPRESENTATIVES are facilitating the importation of YOUTH IN ASIA - and Africa (so long as they are not of European bloodlines) and everywhere else they can find them.

Now you know how it happened and what their agenda is, care to explain why the PRIVATELY OWNED "central bank" of the USA printed more money that Australia's entire GDP and in doing so reported a profit of $100 Billion while the population are saddled with debt of exactly the same amount printed?