US dollar challenged

US dollar challenged

News on wars and the MH17 crash overshadowed an important development on the global financial chessboard late last month. Five leaders from emerging superpowers recently  agreed on the formation of a bank to rival the US-run World Bank and IMF.

It’s called BRICS, and it stands for Brazil, Russia, India, China and South Africa, and it will be lending its cash for infrastructure and development projects in emerging economies. 

Additionally, a $100 billion fund has been established to protect the nations involved from any future US-led financial crisis. 

If properly governed, it will give these countries an enormous advantage over US-dependent countries such as Australia should/when such a thing happen again.   

So will this cartel take any cues from the Rothschilds? Mayer Amschel Rothschild reputedly said in 1790: ‘Let me issue and control a nation’s money and I care not who writes the laws.’  

NSW Libs also a disgrace

‘I’ll tell you what’, property developer Hilton Grugeon ‘might’ have said. ‘I like this painting that hangs on your wall so much, that I’ll buy it from you for $10,000. No, really.’ 

And there begins the public career collapse of NSW Liberal MP Andrew Cornwell, former chief whip to the NSW Baird government, after Independent Commission Against Corruption (ICAC) hearings last week. 

More than the bottle of plonk that robbed O’Farrell of the top job in April, this goose took wads of cash in an envelope from a developer as well as from the current lord mayor of Newcastle. 

Idiot alert: accepting money from developers was banned in NSW in 2009. It’s also put lord mayor of Newcastle and ex-property developer Jeff McCloy under pressure to resign. 

So where is this stupid greed-based saga headed? 

Apart from paying off his tax bill, Cornwell gave the money to his beloved party for its 2011 election war chest. 

Funny that, as it’s the subject of ICAC enquiries. 

There are now nine MPs who have stood down from the current coalition crop since they took office in 2011, including the premier, police minister Mike Gallacher and energy and resources minister Chris Hartcher. 

Will the people of NSW take notice of this endemic corrupt behaviour before the upcoming 2015 election?

Hans Lovejoy, editor