paul clithero's money talk got me worried, page-8

"solution is simple.

everyone stops paying their loans, tells the banks to piss off and re issue sound currency with no interest for the benefit of people.

And prohibit banks from speculating with peoples money."


Yes, back to how it used to be here. Bit off track, but the Commonwealth Bank was established in 1911 and with the outbreak of WW1 they printed a stack of money to fund the military costs. At the end of the war their was a huge debt, by the standards of the day, so what did they do???



Answer: They cancelled the debt.


In those days we had a tiny population, but managed to give employment to returned servicemen building the Great Ocean Road and extending the rail lines from Adelaide to Perth, along with the ill feted Soldier Settler Blocks, which unfortunately was a disaster.

After the Second World War there was money provided to build the Snowy Mountains Hydro-Electric Scheme which gave so many of our European immigrants a solid start in the new country. I'll bet the money to build it wasn't borrowed from overseas, although I may be wrong.

The Reserve Bank of Australia came into being in the early sixties and we seem to have been going downhill ever since...

Ask yourselves how is it that when this country had a tiny population how is that they managed to build so much infrastructure that today we can't even afford to continue to own it?