Australian Town Prepares For ‘Inland Sea’

Residents in Swan Hill, Victoria, are filling sandbags ahead of the arrival of a massive inland sea.

Record rains have already left huge parts of the northeast state of Queensland under water, killing 30 people and damaging or destroying 30,000 homes and businesses.

As the flood waters move across southeast Victoria state some residents of the small Victorian community of Murrabit West were urged to evacuate as water from the Murray River began spilling over the levees protecting the township.

Read moreAustralian Town Prepares For ‘Inland Sea’

Australia Floods: Crisis Moves South To Victoria


Towns in the southern Australian state of Victoria were on Monday bracing for their biggest floods in 200 years as the death toll from the natural disaster in Queensland rose.



Residents of the town of Horsham, which lies 190 miles northwest of Melbourne and is home to 14,000 people, were rushing to protect their homes with sandbags as the swollen Wimmera River threatened 500 properties.

The river is expected to peak overnight at more than 13ft and could inundate another small 12 towns.

“It’s predicted to be a one-in-200-year event,” a Victoria emergency services spokesman said.

“We are expecting [Horsham] will be cut in half by the river and that the highway be cut as well.”

Across Victoria, more than 1,600 properties have been affected by rising water and 3,500 people have been evacuated from their homes.

Last night a seven-year-old child was missing after falling into a flooded river.

Read moreAustralia Floods: Crisis Moves South To Victoria

Huge Ring Appears Over Australia – HAARP?

After receiving an urgent e-mail from a contact in Australia informing me of bizarre weather on the weather satellite imagery, I checked out the data and just hours later more strangeness. I am waiting to hear from the Australian Government’s weather bureau for their own explanation.

“There is very strange weather happening here – please check”

A contact in Australia just alerted me to what he describes as “very strange weather taking place over the south west of Australia”. He told me to go to the national weather satellite images if I could not open the images he attached (See left). By the time I had discovered the e-mail and checked, the large clearly defined ring had mostly dissipated but still was just visible on a time loop which was spiraling counter clockwise (Low Pressure system).

The images above is what my contact sent which shows a wide band ring covering many hundreds of miles across the south west of Australia with a small dot (presumably cloud) shown just right of center.

I saved the loop of the area when I checked the site several hours later but unfortunately it was encrypted not to permit this. The loop is not now on the site but the satellite image taken at 16:30 UTC is also very interesting.

Read moreHuge Ring Appears Over Australia – HAARP?

Australia: Graphic Video of Flood Chaos in Brisbane

Emergency sirens blared across Brisbane, Australia’s third-largest city, on Wednesday as floodwaters that have torn a deadly path across the northeast poured into an empty downtown, swamping neighbourhoods. At least 22 people have died and more than 40 are missing across Australia’s northeastern state of Queensland since drenching rains that began in November sent swollen rivers spilling over their banks, flooding an area larger than France and Germany combined.

Australian Floods Reach ‘Biblical Proportions’


Added: 3. Januar 2011

You’re watching multisource world news analysis from Newsy

Australia is experiencing one of the worst floods in the past 70 years. BBC says the flooding has reached ‘biblical proportions.’

“Even in a land as vast as Australia the scale of the flooding is hard to comprehend. In central Queensland, murky brown flood waters cover an area the size of Germany and France combined.”

Al Jazeera reports the residents of local towns don’t seem to have any miracles coming their way any time soon.

“The water has gone down, but the trouble we have here is that all the dams on every tributary are actually full. So if we were to another 200 millimeters of rain like we did on the night before the flood — things could turn nasty quite quickly.”

Read moreAustralian Floods Reach ‘Biblical Proportions’

Australia Floods: Dramatic Queensland Videos


Added: 10. Januar 2011

At least four are dead after flash floods swept through Toowoomba, carrying away cars and people.


Flash Flood in Queensland Australia Sweeps Cars Away


Added: 10. Januar 2011

Rapid flash flooding in Toowoomba, Queensland sweeps several cars downstream. The death toll is currently at 8 with 72 missing due to the ‘inland tsunami’. This flood is said to be a 1 in 100 year event. The damage bill of the flooding is currently over $5billion, but the human cost is what is more important.

Australia Floods: Food Prices to Rise 30% – 50% of Crops Affected, With 20% Wiped Out

Related article:

Cotton Jumps by Limit Amid Australia Floods (BusinessWeek):

Jan. 11 (Bloomberg) — Cotton prices jumped the most allowed by ICE Futures U.S. after the worst floods in half a century damaged crops in Australia, the world’s fourth-largest exporter.



Officials have warned that the disaster may last for weeks

(BBC NEWS) — Food prices in Australia could rise by as much as 30% in the coming months as a result of the Queensland floods, it has been warned.

The investment bank JP Morgan says it expects food prices to spike, which will also push up headline inflation.

The bank’s chief economist in Australia said 50% of crops had been affected by the floods, with 20% wiped out.

Stephen Walters also told the BBC that rises in Australia could have a knock-on impact on prices in Asia.

JP Morgan also said that coal mining had been significantly damaged and estimated that the floods would shave 0.4% off GDP growth in the last quarter of 2010 and the first three months of 2011.

The worst floods to hit Queensland for more than 50 years have left 10 people dead and more than 70 missing.

Read moreAustralia Floods: Food Prices to Rise 30% – 50% of Crops Affected, With 20% Wiped Out

Australia: More Rain And New Storms Worsens Floods – Floods Raise Fears of Wheat Shortage

More rain worsens floods in Australia (AP):

BRISBANE, Australia (AP) — Almost a foot (300 millimeters) of rain in just a few hours renewed flood fears in Australia’s already waterlogged Queensland state Saturday, sending a surging river over its banks and into another large town.

Officials said about only 20 buildings in Maryborough, where about 22,000 people live, were expected to be flooded after the river burst its banks in the overnight downpour. The waters were expected to peak on Sunday.

“A number of businesses … will have floodwaters in their basements,” Mayor Mick Kruger said.

But the new flooding was a reminder that the state has almost no capacity to absorb more heavy rains after weeks of drenching tropical weather submerged an area the size of Germany and France combined.

Australia floods: new storms hit flood region (Telegraph):

Heavy rains fell in eastern Australia on Thursday, bringing fresh misery to flood-hit communities as the mayor of the flooded city of Rockhampton warned it could take up to a year to recover from the worst flooding in decades.

Australian floods raise fears of wheat shortage (Telegraph):

US wheat futures rose heavily yesterday as concerns grew that Australian wheat growers will be unable to deliver their harvests as a result of the devastation. Australia is the world’s fourth largest exporter of wheat after the USA, Canada and Russia.

At the Chicago Board of Trade, the price of wheat for March delivery rose over 3pc, at one point hitting $8.25 (£5.30) a bushel, the highest since last August. Warnings over impending cold weather in the US were also cited as reasons for the rise.

Australia: Now Coastal Queensland Braces For 30-Ft Flood Waters

See also:

Australian Floods Affect Bigger Area Than France and Germany Combined (Video)

200,000 Australians Affected By Floods Covering Larger Area Than France And Germany



A play ground affected by flooded waters is seen in Bundaberg, Queensland, Australia January 1, 2011.

SYDNEY (Reuters) – Floods that have inundated 22 Australian towns and forced more than 200,000 from their homes headed towards the northeast coast on New Year’s Day, forcing further evacuations and warnings of 30-ft flood waters.

Australia has endured its wettest spring on record, causing six river systems in tropical Queensland to flood, as soaring temperatures in the states of Victoria and South Australia sparked warnings of devastating bushfires.

The rain has flooded coal mines and hit farming hard, with many roads still impassable, and prompted warnings of the dangers of crocodiles and snakes in flooded homes.

The inland sea that stretches across Queensland is dotted with the roofs of flooded homes, islands of dry ground crowded with stranded livestock and small boats ferrying people and emergency supplies.

On Saturday, coastal areas were preparing for the worst. Evacuations were under way in the town of Rockhampton where the Fitzroy River, one of Australia’s largest river systems, was expected to flood.

The town’s airport was closed to commercial flights, while relief officials warned the floods would likely reach more than nine metres (30 ft) in height.

Read moreAustralia: Now Coastal Queensland Braces For 30-Ft Flood Waters

Australian Floods Affect Bigger Area Than France and Germany Combined (Video)


Added: 31. December 2010

Flooding across Australia’s northeast is continuing to cause chaos and shows no sign of abating.

The country’s now recorded its wettest spring, causing six major river systems in Queensland state to burst their banks.

An area bigger than France and Germany combined has been affected, with some 22 towns across the state inundated, leaving some 200,000 people stranded.

Australia: Monsanto GM Strain Blows Organic Status Away

To contaminate everything with GMOs is the intent, because it renders any resistance useless.

This is also the reason for the GMO security research, where small agribusiness front firms, which are directly connected to the agribusiness giants like Monsanto, Syngenta, DuPont-Pioneer, Dow Chemical, BASF, KWS Saat and Bayer, create with almost no oversight, small GMO test fields (usually around 9 square meters) as close as possible to the seed banks, whose responsible it is to keep our seeds as pure as possible.

In Germany these criminals get €350.000 for each of those 9 square meter test fields from the government to contaminate our food supply.

This is not a conspiracy. This is real.

Notice that it is the chemical industry that wants to be in charge of our food supply!

What could possibly go wrong?

Meet the real terrorists:

US Conspired to Retaliate Against European Nations If They Resisted GMOs: Wikileaks Cable Reveals


MUTANT canola crops genetically engineered to survive repeated sprayings of herbicide have been approved for planting.

This is despite the furore over GM contamination of an organic farm.

The West Australian Minister for Agriculture and Food, Terry Redman, has called on the organic industry to bend its rules to permit some GM material, declaring purity to be “unrealistic”.

WA grain farmer Steve Marsh was stripped of his organic certification this week after GM canola seeds allegedly blew 1.5km over his boundary from a neighbouring property at Kojonup, southeast of Perth. He is now setting an Australian precedent by threatening to sue for damages.

“The GM industry must control its technology,” Mr Marsh said yesterday.

“If a GM farmer wishes to grow it, that’s his business, but he must be responsible that it doesn’t impact on his neighbours.”

Mr Marsh said he was considering legal action but was awaiting the results of a WA government investigation.

A spokeswoman for Monsanto — which sells the GM canola seeds as well as the Roundup herbicide used to spray it for weeds — yesterday said the multinational corporation would support the GM farmer if the case ended in legal action.

She said the GM farmer — whose identity has not been revealed — had complied with his obligation to keep a 5m buffer between his GM crop and the adjoining farm.

“The canola grower has met all his legal requirements,” the Monsanto spokeswoman said.

“We’d certainly be looking to support him in any way we could.

“Having a couple of canola plants blow into a farm should not be affecting its organic wheat status. Both farmers have done everything they should have.”

Read moreAustralia: Monsanto GM Strain Blows Organic Status Away

200,000 Australians Affected By Floods Covering Larger Area Than France And Germany

See also:

Australian floods send coal prices soaring (Telegraph)

Australian floodwaters rise as bushfire threat looms (The Guardian)


Some 200,000 Australians have been affected by flood waters covering an area larger than France and Germany combined.


An aerial image showing properties hit by floodwaters in Emerald, Queensland Photo: EPA

Military aircraft dropped supplies to towns cut off by floods as rising rivers inundated or isolated 22 towns in the state of Queensland.

Julia Gillard, the Australian prime minister, visited flooded Bundaberg, and flew over Emerald, as she promised that families whose homes were damaged would be eligible for disaster relief payments. On Thursday, she pledged about £650,000 in federal aid to match a relief fund already set up by the state government.

The Queen meanwhile extended her “sincere sympathies” to those hit by the floods.

Officials say half of Queensland’s 715,305 square miles is affected, after being hit by as much as 24 inches of rain this month, causing swollen rivers to overflow.

Read more200,000 Australians Affected By Floods Covering Larger Area Than France And Germany

Wintry Weather Brings Snow to Australia in MIDSUMMER

And everybody seems to find snow in midsummer wonderful???


Australia normally experiences temperatures of 86F (30C) at this time of year, but the chances of a rare white Christmas have increased after plunging temperatures and snow swept across the east of the country.


Snow and ice covering building at Mount Hotham as snow fell in Australia Photo: AFP/GETTY

Freezing winds from Antarctica, blown up to Australia by a low-pressure system in the Southern Ocean, gave the country a taste of the conditions that are causing havoc across Europe.

Some 11 inches of snow fell at the ski fields in New South Wales, raising the prospect that parts of the country could experience a white Christmas.

“It’s white, everything is white,” Michelle Lovius, the general manager of the Kosciuszko Chalet Hotel at Charlotte Pass, said.

“First thing this morning everything was just very still, very peaceful and every single thing was just blanketed in a thick cover of white.”

At the ski fields, children in Father Christmas hats, who would usually be sunning themselves on the grassy slopes, made snowballs and rode on sleds.

Miss Lovius said such a large amount of snow was unusual for early December, normally the peak of the wild flower season in the mountainous region.

“We’re hoping that it (the cold) stays in for five days and we get a white Christmas,” she said.

In one part of the state temperatures dropped as low 39.2F (4C), the coldest December morning in 54 years, according to the Weather Channel.

Further south in the state of Victoria, Mt Hotham had four inches of snow and Mt Buller up to two inches.

“It is a blanket of white, which is beautiful at this time of year.

Read moreWintry Weather Brings Snow to Australia in MIDSUMMER

Australia: Bitter Summer Freeze Bites Eastern States As Summer Gives Way To Snow And Cold

Summer in Australia!



  • Victoria, NSW hit by bitter cold snap and snow
  • Wind and rain wreak havoc in other states
  • Comes as Europe also hit by big freeze


Hikers at Charlotte Pass lookout in the NSW Snowy Mountains were greeted with 10cm of fresh snow as a cold snap hits the eastern coast of Australia. Picture: Steve Cuff

THONGS and board shorts gave way to beanies and scarves yesterday as summer gave way to a wintry blast of snow and icy temperatures in the country’s southeast.

While the bitter freeze in Europe continues, Victoria and NSW have had a cold snap of their own, with off-season ski slopes transformed into winter wonderlands.

About 30cm of snow fell at Perisher in NSW yesterday, while Victoria’s Mount Hotham received a 10cm dusting on Sunday.

Charlotte’s Pass in the NSW Snowy Mountains also received a 10cm sprinkling of snow, prompting would-be bushwalkers to don clothing more suitable for skiing.

It was surprising to see the Kosciuszko Chalet Hotel blanketed with snow at this time of year, resort manager Michelle Lovius told The Australian yesterday.

“I’m sitting inside in my scarf and beanie,” she said.

“When you walk in it, it’s up past your ankles and it’s just started snowing heavily again. ”

In Sydney yesterday, there were blustery winds and unseasonably low temperatures of just 13C. The western suburb of Horsley Park recorded 9.8C and the Blue Mountains dropped to -2C.

Read moreAustralia: Bitter Summer Freeze Bites Eastern States As Summer Gives Way To Snow And Cold

Police State: Australian Cops Repeatedly Taser A Prisoner For Fun (Graphic Video)

A graphic video of police repeatedly using a Taser on an unarmed man has rekindled debate in Australia about whether they are being overused.

Related information:

–  Police State: Cop stages fake arrest of boy for having sex with his daughter

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Police State: Oakland Cops Search Without Warrants

Police State: Cops Taser 86-Year-Old Bed-Ridden Grandmother

Police State: Cops Shut Down 7 Year-Old’s Lemonade Stand

Police State: Autistic teen beaten, tasered and arrested

Police State: Cops Taser 3 Kids, Sheriff Defends Their Actions

Police State: Cops Shoot Woman In The Head, Then Laugh At Her

Police State: US Court OKs Repeated Tasering of Pregnant Woman For Refusing to Sign a Speeding Ticket

Read morePolice State: Australian Cops Repeatedly Taser A Prisoner For Fun (Graphic Video)

Australia: Crops threatened by locust plague of Biblical proportion

An area of farmland the size of Spain could be destroyed by a swarm of locusts in western Australia.

Queensland, New South Wales, Victoria and South Australia are all affected, with hundreds of farmers reporting that locust eggs have begun hatching on their land.

Published: 11:35AM BST 02 Oct 2010
Source: The Telegraph

Australian Soldiers Charged With Manslaughter of Afghan Children

Australia’s top military prosecutor said three former Australian soldiers will be charged with manslaughter in relation to a raid on a compound in Afghanistan that left five children dead.

Brigadier Lyn McDade, the Director of Military Prosecutions, said today that the special forces soldiers face multiple charges including manslaughter, dangerous conduct and failing to comply with a lawful general order.

The charges relate to a February 2009 raid on a compound in southern Uruzgan province that was believed to harbour Taliban insurgents.

Six Afghans, including five children, were killed, and another two children and two adults were wounded.

The soldiers were not identified.

Read moreAustralian Soldiers Charged With Manslaughter of Afghan Children

Lyme Disease Now In Australia, GP Dr Peter Mayne Says He Has Absolute Proof

lyme__tick

A LAURIETON doctor says he has “absolute proof” two of his patients have a tick-borne disease that health authorities say does not exist in Australia.

GP Dr Peter Mayne said two of his patients had the bacterial illness Lyme disease.

He urged medical colleagues to keep an eye out for the infection.

“I’ve taken tissue samples at the bite sites, and sent them off for DNA analysis, and they were positive,” Dr Mayne said.

Debate continues about whether Australian ticks can carry Lyme disease.

“There are perceptions that Lyme disease doesn’t exist here in Australia, and the medical profession have been lulled into thinking that they don’t have to worry about Lyme disease,” Dr Mayne said.

In its later stages, the infection can spread through the bloodstream and affect the brain, heart and joints.

Earlier symptoms can include a rash, fever, headaches, tiredness and joint pain.

Lyme disease made headlines this month after an autopsy showed a Sydney man had the disease when he died.

The dead man’s wife planned to launch a class action against NSW Health, The Sydney Morning Herald reported.

Dr Mayne said he had a list of about 30 patients – from Newcastle to Coffs Harbour – with the disease.

It was “incredibly difficult” to diagnose, he added.

Read moreLyme Disease Now In Australia, GP Dr Peter Mayne Says He Has Absolute Proof

Labor’s Julia Gillard To Form Minority Freemason Government In Australia

Oh, what a ‘surprise’!

Australia: Julia Gillard, Wayne Swan, Bob Katter And The Masonic Handshake

Now expect the internet to be censored in Australia.

The dark side rules. Wake up Australia!


Labor wins backing of two independent MPs, allowing Gillard to remain as prime minister


Labor leader to remain as prime minister after winning backing from two independent MPs

Labor’s Julia Gillard will form a minority government in Australia after gaining the support of two independent MPs today.

Labor won the backing of Tony Windsor and Rob Oakeshott, while Bob Katter came out for Tony Abbott, the Liberal leader who hoped to lead a conservative coalition.

This gave Gillard the support of 76 MPs, which will allow her to form a minority government and give Labor a second three-year term. Seventy-four MPs now back the opposition.

The closely contested 21 August federal elections failed to give any party a majority for the first time since 1940.

Gillard, who was born in Wales, became Australia’s first female prime minister in June when Labor overthrew Kevin Rudd, who had lost the support of his party.

Last week, another independent, Andrew Wilkie came out for Labor. He had negotiated separately from the three MPs from rural areas who announced their support today. Gillard signed a deal with the Greens on climate change policy in exchange for their support.

Read moreLabor’s Julia Gillard To Form Minority Freemason Government In Australia

Australia: Julia Gillard, Wayne Swan, Bob Katter And The Masonic Handshake

masonic-handshake-wayne-swan-bob-katter
Wayne Swan and Julia Gillard greet Bob Katter, right, Tony Windsor, centre, and Rob Oakeshott. Picture: Gary Ramage Source: The Australian

More masonic handshakes:

Plastiki Skipper David De Rothschild Masonic Handshake
David de Rothschild (front right), Plastiki’s skipper, shakes hands with Ian Kiernan, founder and chair of Clean Up Australia and Clean Up the World.
Source: Philly.com

masonic-handshake-pope-benedict-xvi-and-tony-blair
Pope Benedict XVI and Tony Blair

Ehud-Olmert-Mahmoud-Abbas-George-Bush_Masonic-Handshake
Former PM Ehud Olmert and Mahmoud Abbas exchange a masonic handshake

Obama’s Freemason handshake at his graduation:obama-freemason-handshake-01

obama-freemason-handshake-02

Obama’s masonic ring (Newsweek magazine):

(Click on image to enlarge.)
obama-freemason-ring-01

obama-freemason-ring-02

obama-freemason-ring-03

obama-freemason-ring-04

Obama’s satanic salute:

obama-hand-sign

obama-sign

obama-handsign

Change we can believe in !!!

And NO, this is not the “Go Horns” sign!

Picture from the Satanic Bible
satan_sign
This is a handsign of the devil worshippers (goat horns).

Horned Hand or The Mano Cornuto: this gesture is the Satanic salute, a sign of recognition between and allegiance of members of Satanism or other unholy groups.

Meet his friends:

Read moreAustralia: Julia Gillard, Wayne Swan, Bob Katter And The Masonic Handshake

WHAT A GOVERNMENT CAN DO WITH ITS OWN BANK!

THE REMARKABLE MODEL OF THE COMMONWEALTH BANK OF AUSTRALIA

federal-reserve
The US Federal Reserve is as federal as Federal Express and there are no reserves.
The Federal Reserve has been founded in secret and is privately owned by elite criminals.

Virg Bernero, the mayor of Lansing, Michigan, just won the Democratic nomination for governor of his state, making a state-owned Bank of Michigan a real possibility. Bernero is one of at least a dozen candidates promoting that solution to the states’ economic woes. It is an innovative idea, with little precedent in the United States. North Dakota, currently the only state owning its own bank, also happens to be the only state sporting a budget surplus, and it has the lowest unemployment rate in the country; but skeptics can write these achievements off to coincidence. More data is needed, and fortunately other precedents are available from other countries.

One of the most dramatic is the Commonwealth Bank of Australia, which operated successfully as a government-owned bank for most of the 20th century, until it was privatized in the 1990s. The Commonwealth Bank’s creative founders demonstrated that a government-backed bank can make loans without capital. Denison Miller, the Bank’s first Governor, was fond of saying that the Bank did not need capital because “it is backed by the entire wealth and credit of the whole of Australia.”

The Commonwealth Bank’s accomplishments were particularly remarkable considering that for its first eight years, from 1912 to 1920, it did not have the power to issue the national currency –unlike the U.S. Federal Reserve, which acquired that power in 1913. The Commonwealth Bank was thus in the same position as a state of the United States or a member country of the European Union (think Greece), which also lack the power to issue their own currencies. Operating without that power and without startup capital, the Commonwealth Bank funded both massive infrastructure projects and the country’s participation in World War I. According to David Kidd, writing in a 2001 article titled “How Money Is Created in Australia”:

“Australia’s own government-established Commonwealth Bank achieved some impressive successes while it was ‘the peoples’ bank’, before being crippled by later government decisions and eventually sold. At a time when private banks were demanding 6% interest for loans, the Commonwealth Bank financed Australia’s first world war effort from 1914 to 1919 with a loan of $700,000,000 at an interest rate of a fraction of 1%, thus saving Australians some $12 million in bank charges. In 1916 it made funds available in London to purchase 15 cargo steamers to support Australia’s growing export trade. Until 1924 the benefits conferred upon the people of Australia by their Bank flowed steadily on. It financed jam and fruit pools to the extent of $3 million, it found $8 million for Australian homes, while to local government bodies, for construction of roads, tramways, harbours, gasworks, electric power plants, etc., it lent $18.72 million. It paid $6.194 million to the Commonwealth Government between December, 1920 and June, 1923 – the profits of its Note Issue Department – while by 1924 it had made on its other business a profit of $9 million, available for redemption of debt. The bank’s independently-minded Governor, Sir Denison Miller, used the bank’s credit power after the First World War to save Australians from the depression conditions being imposed in other countries. . . . By 1931 amalgamations with other banks made the Commonwealth Bank the largest savings institution in Australia, capturing 60% of the nation’s savings.”

Harnessing the Secret Power of Banking for the Public Good

The Commonwealth Bank was able to achieve so much with so little because its first Governor, Denison Miller, and its first and most ardent proponent, King O’Malley, had both been bankers themselves and knew the secret of banking: that banks create the “money” they lend simply by writing accounting entries into the deposit accounts of borrowers.

This banking secret was confirmed by a number of early banking insiders. In a 1998 paper titled “Manufacturing Money,” Australian economist Mike Mansfield quoted the Rt. Hon. Reginald McKenna, former Chancellor of the Exchequer, who told shareholders of the Midland Bank on January 25, 1924, “I am afraid the ordinary citizen will not like to be told that the banks can, and do, create and destroy money. The amount of money in existence varies only with the action of the banks in increasing or decreasing deposits and bank purchases. We know how this is effected. Every loan, overdraft or bank purchase creates a deposit, and every repayment of a loan, overdraft or bank sale destroys a deposit.”

Read moreWHAT A GOVERNMENT CAN DO WITH ITS OWN BANK!

Australian Dollar in Freefall

australian-dollar

The Australian dollar was in freefall this afternoon, plunging to as low as 82.56 US cents against the greenback and falling sharply against other major currencies, on renewed worries about the health of the global economy.

Traders said the losses were caused by global hedge funds selling the dollar to reduce their exposure to currencies considered as risky.

By the time of the local close, the dollar had recovered slightly to 83.15 US cents, still down more than 2.5 US cents from yesterday’s close of 85.88 US cents.

TD Securities FX strategist Roland Randall said the unit had been caught in the grip of investor insecurity about the on-going European debt crisis.

”The big picture is the world is selling risk assets in concerns out of Europe,’’ he said. ”We’ve seen the Aussie plummet.”

It’s been a shocking month for the currency, sinking more than 10 per cent from 92.7 US cents – a shift that may add to local inflationary pressures as the higher cost of imports flows through the economy.

Read moreAustralian Dollar in Freefall

Australia: Travellers laptops and mobile phones to be searched for porn

Australian customs officers have been given new powers to search incoming travellers’ laptops and mobile phones for pornography, a spokeswoman for the Australian sex industry says.

Fiona Patten, president of the Australian Sex Party, is demanding an inquiry into why a new question appears on Incoming Passenger Cards asking people if they are carrying “pornography”.

Patten said officials now had an unfettered right to examine travellers’ electronic devices, marking the beginning of a new era of official investigation into people’s private lives. She questioned whether it was appropriate to search people for legal R18+ and X18+ material.

“Is it fair that customs officers rummage through someone’s luggage and pull out a legal men’s magazine or a lesbian journal in front of their children or their mother-in-law?” she said.

Read moreAustralia: Travellers laptops and mobile phones to be searched for porn