WEBVTT

1
00:00:04.200 --> 00:00:07.360
<v Speaker 1>Thank you for listening to de Pictures Media Radio.

2
00:00:21.039 --> 00:00:27.559
<v Speaker 2>Welcome to Policy and Writes, Show Up, Welcoming Policy, Human Joy.

3
00:00:54.960 --> 00:00:59.280
<v Speaker 2>This is Policy and Rights with your hosts Kelly Reaver

4
00:00:59.880 --> 00:01:02.520
<v Speaker 2>or known as DJ Ray If you're counting on me

5
00:01:02.640 --> 00:01:07.519
<v Speaker 2>on gums and maples. Anyways, Yeah, so I'm going to

6
00:01:07.640 --> 00:01:15.319
<v Speaker 2>talk to you about the future of Australia. Adam Stokes,

7
00:01:15.640 --> 00:01:21.400
<v Speaker 2>one of the interviewers, sat down with Senator General Rennick

8
00:01:21.719 --> 00:01:28.599
<v Speaker 2>about the future of the with well mostly Australian politics

9
00:01:28.719 --> 00:01:33.079
<v Speaker 2>and the economy from his point of view, the policies

10
00:01:33.079 --> 00:01:39.480
<v Speaker 2>of inflation, central banking, national sovereignty, etc. So they go

11
00:01:39.599 --> 00:01:45.159
<v Speaker 2>on to continuing on issues like labor and liberal liberal

12
00:01:45.159 --> 00:01:50.079
<v Speaker 2>and labor through their debate stages from the elections. Who's

13
00:01:50.120 --> 00:01:53.760
<v Speaker 2>in charge in Australia? Have you ever been threatened? Where

14
00:01:53.799 --> 00:01:58.799
<v Speaker 2>the politicians judges exempt from taking the vaccine and talk

15
00:01:58.840 --> 00:02:04.760
<v Speaker 2>about a lot of vaccine situations, How Australians feel so poor,

16
00:02:05.680 --> 00:02:09.759
<v Speaker 2>Where is Australian text, money is going, et cetera. Those

17
00:02:09.840 --> 00:02:13.639
<v Speaker 2>kind of issues. So right now it's about well, the

18
00:02:13.680 --> 00:02:17.039
<v Speaker 2>clip's about thirty four minutes and fourteen seconds on the clip.

19
00:02:19.159 --> 00:02:23.400
<v Speaker 2>If you want to have any comments or questions about

20
00:02:23.919 --> 00:02:28.240
<v Speaker 2>either myself or with Michael Clogg's Depictions Media. You can

21
00:02:28.280 --> 00:02:32.919
<v Speaker 2>go online wo wo wo dot Depictions d E P I,

22
00:02:33.159 --> 00:02:39.560
<v Speaker 2>C T I O N S dot Media and follow

23
00:02:39.599 --> 00:02:46.800
<v Speaker 2>the links there to get a contact to Otherwise, his

24
00:02:47.159 --> 00:02:51.719
<v Speaker 2>email address is Michael at Ribbon's Marketing and Networking dot

25
00:02:51.759 --> 00:02:59.759
<v Speaker 2>com or his Depictions Media Michael at Depictionsmedia dot com. Anyways,

26
00:03:00.039 --> 00:03:03.439
<v Speaker 2>I'm going to go over to now the clip of

27
00:03:03.840 --> 00:03:10.960
<v Speaker 2>the Senator Jerald Rennick on Australia's future and their beliefs

28
00:03:11.080 --> 00:03:16.520
<v Speaker 2>on it, mostly again on Australian politics and Australian economy.

29
00:03:17.039 --> 00:03:20.680
<v Speaker 2>You can always email me sent to DJ that's my

30
00:03:20.800 --> 00:03:23.840
<v Speaker 2>old email. Sorry, Gums and met Poles at gmail dot

31
00:03:23.879 --> 00:03:28.840
<v Speaker 2>com for you know, for music that I do for

32
00:03:28.960 --> 00:03:33.719
<v Speaker 2>Gums of Meat, Poles Radio or on Depictions Media. Thank

33
00:03:33.759 --> 00:03:36.439
<v Speaker 2>you very much, and of course here's the clip, and

34
00:03:36.479 --> 00:03:39.560
<v Speaker 2>I will talk to again soon. Have a great day

35
00:03:39.639 --> 00:03:41.960
<v Speaker 2>and we'll again. We'll talk to you again soon.

36
00:03:44.360 --> 00:03:46.560
<v Speaker 3>This morning I had the unique opportunity to speak with

37
00:03:46.639 --> 00:03:49.639
<v Speaker 3>Senator Jared Rennick to get his insight on the Australian

38
00:03:49.719 --> 00:03:53.199
<v Speaker 3>economy and political landscape. Note I neither paid for this

39
00:03:53.280 --> 00:03:56.039
<v Speaker 3>interview nor was given any money to conduct it. I

40
00:03:56.080 --> 00:03:58.800
<v Speaker 3>simply reached out to many Australian leaders to give them

41
00:03:58.840 --> 00:04:02.080
<v Speaker 3>the opportunity to speak my platform beyond what labor and

42
00:04:02.120 --> 00:04:05.280
<v Speaker 3>liberal get on the mainstream media. Note also, this is

43
00:04:05.360 --> 00:04:08.800
<v Speaker 3>neither an endorsement nor disendorsement for the Senator, but rather

44
00:04:09.080 --> 00:04:11.039
<v Speaker 3>just an opportunity for us to hear what he has

45
00:04:11.080 --> 00:04:14.520
<v Speaker 3>to say and provides you insights therefore options when it

46
00:04:14.520 --> 00:04:18.319
<v Speaker 3>comes time to vote. To all Australian political leaders, irrespective

47
00:04:18.360 --> 00:04:20.240
<v Speaker 3>of what side of the aisle you sit on, you

48
00:04:20.319 --> 00:04:22.879
<v Speaker 3>are always welcome on this channel, so you can speak

49
00:04:22.959 --> 00:04:25.519
<v Speaker 3>freely and Australia can hear what you have to say.

50
00:04:25.759 --> 00:04:28.519
<v Speaker 3>Whilst on this channel we're typically accustomed to interviews going

51
00:04:28.519 --> 00:04:31.240
<v Speaker 3>for several hours. We have to respect that the Senator

52
00:04:31.319 --> 00:04:34.360
<v Speaker 3>is an immensely busy man. Therefore, I'm very grateful for

53
00:04:34.399 --> 00:04:36.800
<v Speaker 3>the time that he gave me. This is my interview

54
00:04:36.879 --> 00:04:39.600
<v Speaker 3>with the good Senator, Senator Rennick. Thank you for joining

55
00:04:39.639 --> 00:04:40.199
<v Speaker 3>me this morning.

56
00:04:40.639 --> 00:04:42.120
<v Speaker 1>It's good to be here. Thanks for having me on

57
00:04:42.160 --> 00:04:43.160
<v Speaker 1>Adam Senator.

58
00:04:43.279 --> 00:04:46.120
<v Speaker 3>Last week there was a televised debate between Dunton and Albanesi.

59
00:04:46.360 --> 00:04:48.839
<v Speaker 3>I felt that it implied that Australia was a republic

60
00:04:48.879 --> 00:04:51.720
<v Speaker 3>with only two choices about being label or liberal. If

61
00:04:51.720 --> 00:04:53.839
<v Speaker 3>this isn't the case, why don't we see other parties

62
00:04:53.839 --> 00:04:54.959
<v Speaker 3>on the debate stage.

63
00:04:55.439 --> 00:04:58.120
<v Speaker 4>That's a very good question, Adam, and it's something that

64
00:04:58.199 --> 00:05:01.160
<v Speaker 4>needs to be addressed. As we've just speaking of camera before,

65
00:05:01.600 --> 00:05:04.680
<v Speaker 4>the primary vote of the two major parties is slipping.

66
00:05:05.040 --> 00:05:08.040
<v Speaker 4>But at the same time, the media refused to look

67
00:05:08.040 --> 00:05:11.759
<v Speaker 4>at alternative options. Now, you know, I'll admit that the

68
00:05:11.800 --> 00:05:13.399
<v Speaker 4>minor parties have a lot of work to do in

69
00:05:14.040 --> 00:05:19.160
<v Speaker 4>terms of improving their professionalism and becoming more aerodyite and polished.

70
00:05:19.519 --> 00:05:21.040
<v Speaker 4>We need to become that and that's one of the

71
00:05:21.040 --> 00:05:24.000
<v Speaker 4>things people first wants to do. But at the same time,

72
00:05:24.360 --> 00:05:26.600
<v Speaker 4>people are looking for alternatives, and I think it's up

73
00:05:26.639 --> 00:05:29.639
<v Speaker 4>to the mainstream media to provide those alternatives. And I'll

74
00:05:29.680 --> 00:05:32.040
<v Speaker 4>give you another good example. Just last night Sky News,

75
00:05:32.279 --> 00:05:35.199
<v Speaker 4>Paul mara on Sky News had Bob Catter, Pauline Hanson,

76
00:05:35.240 --> 00:05:38.040
<v Speaker 4>and Matt Cannaban on and was calling them the renegades.

77
00:05:38.079 --> 00:05:41.240
<v Speaker 4>And yet that's true, but two of those candidates, Pauline

78
00:05:41.240 --> 00:05:43.680
<v Speaker 4>and Matt canaban weren't even running, you know. And yet

79
00:05:43.680 --> 00:05:45.519
<v Speaker 4>again it's sort of like we're Whiting. You have Senate

80
00:05:45.600 --> 00:05:49.480
<v Speaker 4>candidates from Queensland who were running. But you know, this

81
00:05:49.519 --> 00:05:51.680
<v Speaker 4>is the sad fact. Even Sky that used to start

82
00:05:51.720 --> 00:05:54.000
<v Speaker 4>off as sort of so called being an alternative of

83
00:05:54.000 --> 00:05:56.160
<v Speaker 4>the mainstream media, they're not at all. They're just part

84
00:05:56.160 --> 00:05:58.560
<v Speaker 4>of the establishment as well. And you know, when you've

85
00:05:58.600 --> 00:06:01.079
<v Speaker 4>got people struggling with the cost of being and having

86
00:06:01.839 --> 00:06:04.759
<v Speaker 4>many people have suffered through government neglect, whether it's through

87
00:06:04.920 --> 00:06:07.439
<v Speaker 4>bank loans. You know, they've lost money from banks and

88
00:06:07.439 --> 00:06:10.560
<v Speaker 4>then the government hasn't held the bank accountable, whether it's

89
00:06:10.759 --> 00:06:14.160
<v Speaker 4>the vaccine injury issues, farmers having their farm land, or

90
00:06:14.160 --> 00:06:16.680
<v Speaker 4>their neighbors put up a dirty, big stinking wind turbine

91
00:06:16.759 --> 00:06:20.160
<v Speaker 4>next to them. People are tired of being stood on

92
00:06:20.360 --> 00:06:22.360
<v Speaker 4>by the establishment. And that's one of the things we

93
00:06:22.399 --> 00:06:25.079
<v Speaker 4>want to do people first is protect the individual, and

94
00:06:25.120 --> 00:06:26.759
<v Speaker 4>we're bringing in word protection isn't back.

95
00:06:26.759 --> 00:06:27.600
<v Speaker 1>It's not a dirty word.

96
00:06:27.639 --> 00:06:30.360
<v Speaker 4>We do want to protect the individual, their families, our culture,

97
00:06:30.360 --> 00:06:32.839
<v Speaker 4>and our country and your capital. By the way, you

98
00:06:32.879 --> 00:06:35.040
<v Speaker 4>can be a protectionist and a capitalist, because we want

99
00:06:35.079 --> 00:06:37.680
<v Speaker 4>to protect people's capital and that means keeping it out

100
00:06:37.680 --> 00:06:40.879
<v Speaker 4>of the hands of the establishment. So look, yeah, it's

101
00:06:40.920 --> 00:06:43.399
<v Speaker 4>annoying how the mainstream media're only focused on the two

102
00:06:43.439 --> 00:06:46.000
<v Speaker 4>major leaders because that neither of them have much to offer,

103
00:06:46.160 --> 00:06:48.800
<v Speaker 4>and there are alternatives out there will be the miners,

104
00:06:48.839 --> 00:06:50.439
<v Speaker 4>I think, do need to lift their game as well.

105
00:06:51.279 --> 00:06:54.360
<v Speaker 3>So who's in charge? I'm not convinced we have political

106
00:06:54.399 --> 00:06:56.120
<v Speaker 3>parties in charge. We can see that we have this

107
00:06:56.160 --> 00:06:59.040
<v Speaker 3>interesting system that prime ministers can be fired overnight and

108
00:06:59.040 --> 00:07:01.560
<v Speaker 3>there was a time we're waking up every morning to

109
00:07:01.600 --> 00:07:04.360
<v Speaker 3>a different prime minister. So you have the parties kind

110
00:07:04.360 --> 00:07:06.879
<v Speaker 3>of as a puppet masters at the bottom, the voters

111
00:07:06.879 --> 00:07:08.879
<v Speaker 3>as a puppet masters perhaps at the top. Then you

112
00:07:08.920 --> 00:07:12.240
<v Speaker 3>have the lobbyists and the media. Senator, who's in charge.

113
00:07:13.000 --> 00:07:16.040
<v Speaker 4>Adam, That's easy. It's it's the people behind. So it's

114
00:07:16.079 --> 00:07:19.199
<v Speaker 4>the institutions, right, and so the institutions are the bureaucracy.

115
00:07:19.680 --> 00:07:22.199
<v Speaker 4>They are big corporations, they are big super funds and

116
00:07:22.240 --> 00:07:26.040
<v Speaker 4>they are big media. Now the bureaucracy will they'll have

117
00:07:26.079 --> 00:07:29.319
<v Speaker 4>an agenda. You know, before I got into Parliament, I

118
00:07:29.399 --> 00:07:31.079
<v Speaker 4>used to think the bureaucracy was just a bunch of

119
00:07:31.079 --> 00:07:34.000
<v Speaker 4>bumbling bureaucrats, you know, like we all make mistakes and

120
00:07:34.000 --> 00:07:35.839
<v Speaker 4>they'd engage in a bit of ass covering, you know,

121
00:07:35.879 --> 00:07:38.319
<v Speaker 4>which is a natural sort of human trait for people

122
00:07:38.360 --> 00:07:41.040
<v Speaker 4>to do. But since I've been in there, I've realized

123
00:07:41.439 --> 00:07:43.959
<v Speaker 4>a lot of these people now have adopted the narrative

124
00:07:44.160 --> 00:07:46.519
<v Speaker 4>or an agenda that's against the Australian interests of the

125
00:07:46.519 --> 00:07:49.279
<v Speaker 4>Australian people. And when I say agenda, a lot of

126
00:07:49.279 --> 00:07:51.839
<v Speaker 4>it the agenda is purely self interest in the sense

127
00:07:51.879 --> 00:07:53.839
<v Speaker 4>that they don't want to speak up because they'll lose

128
00:07:53.839 --> 00:07:56.480
<v Speaker 4>their job, like I did with the Liberal Party. So

129
00:07:56.519 --> 00:07:59.160
<v Speaker 4>obviously the first agenda is self interest when you but

130
00:07:59.240 --> 00:08:01.639
<v Speaker 4>this is where the media and the big super funds,

131
00:08:01.639 --> 00:08:04.759
<v Speaker 4>and when I say big super and big corporations are

132
00:08:04.800 --> 00:08:06.720
<v Speaker 4>pretty much hand in hand. Now we have over three

133
00:08:06.759 --> 00:08:09.839
<v Speaker 4>trillion dollars tied up in capital in non self managed

134
00:08:09.839 --> 00:08:13.399
<v Speaker 4>super fund superinneration. So when you control that much capital,

135
00:08:13.439 --> 00:08:16.639
<v Speaker 4>you do control industry. So an industry now is controlled

136
00:08:16.639 --> 00:08:19.879
<v Speaker 4>by let's say between twenty five so about almost twenty

137
00:08:19.920 --> 00:08:23.199
<v Speaker 4>industry funds and about ten big retail funds. None of

138
00:08:23.199 --> 00:08:25.839
<v Speaker 4>their boards are elected, they're selected. So we have all

139
00:08:25.879 --> 00:08:28.680
<v Speaker 4>this capital now that is controlled by people who were never,

140
00:08:29.000 --> 00:08:32.159
<v Speaker 4>never held to account. And then of course there's big media,

141
00:08:32.200 --> 00:08:35.720
<v Speaker 4>and since we've abolished across media ownership laws. Big media

142
00:08:35.759 --> 00:08:38.200
<v Speaker 4>has been basically reduced to the ABC News Corp And

143
00:08:38.200 --> 00:08:40.799
<v Speaker 4>Fairfax nine. I mean Channel seven and Channel ten have

144
00:08:40.840 --> 00:08:42.399
<v Speaker 4>a little bit of influence, not much, so.

145
00:08:42.360 --> 00:08:43.759
<v Speaker 1>There's three big players there.

146
00:08:43.799 --> 00:08:47.879
<v Speaker 4>So it's an ogilarchy of as I said, for the

147
00:08:47.960 --> 00:08:51.879
<v Speaker 4>big government bureaucrats, big corporations who in many respects now

148
00:08:51.919 --> 00:08:54.840
<v Speaker 4>are controlled by Big Super and Big Media. Yet again,

149
00:08:55.279 --> 00:08:57.480
<v Speaker 4>and big Media in many respects are actually controlled by

150
00:08:57.559 --> 00:09:00.440
<v Speaker 4>Big Super as well now because these central eye wealth

151
00:09:00.480 --> 00:09:04.039
<v Speaker 4>funds control have large stakes in the media corporations as well,

152
00:09:04.120 --> 00:09:07.480
<v Speaker 4>so they're the ones in control. Look the executive. And

153
00:09:07.480 --> 00:09:09.720
<v Speaker 4>here's the other thing too, the executive. We don't have

154
00:09:09.759 --> 00:09:11.759
<v Speaker 4>true separation of powers in this country.

155
00:09:12.159 --> 00:09:12.320
<v Speaker 1>Now.

156
00:09:12.360 --> 00:09:13.840
<v Speaker 4>What I mean by that for your listeners, if you

157
00:09:13.840 --> 00:09:15.480
<v Speaker 4>don't know what I'm talking about, is we should have

158
00:09:15.720 --> 00:09:19.279
<v Speaker 4>a judiciary an executive in a parliament. Our executive sits

159
00:09:19.279 --> 00:09:22.480
<v Speaker 4>inside of parliament. Now we use the Westminster system. People

160
00:09:22.519 --> 00:09:25.039
<v Speaker 4>say we use the Westminster system, and we do, but

161
00:09:25.080 --> 00:09:28.559
<v Speaker 4>it's not entirely the same because in the UK they

162
00:09:28.600 --> 00:09:30.759
<v Speaker 4>have six hundred and fifty members in their lower House.

163
00:09:30.799 --> 00:09:32.080
<v Speaker 1>We have one hundred and fifty.

164
00:09:32.519 --> 00:09:34.440
<v Speaker 4>So if you add just seventy six senators, you get

165
00:09:34.480 --> 00:09:38.120
<v Speaker 4>two hundred and twenty six parliamentarians. Your governing party now

166
00:09:38.159 --> 00:09:41.000
<v Speaker 4>that we seem to have smaller majorities and looks like

167
00:09:41.039 --> 00:09:43.039
<v Speaker 4>we're going to have a minority government this time will

168
00:09:43.039 --> 00:09:46.440
<v Speaker 4>be less than one hundred. Our ministers make up thirty,

169
00:09:46.720 --> 00:09:49.399
<v Speaker 4>you know, and if you add your assistant ministers, maybe

170
00:09:49.480 --> 00:09:53.159
<v Speaker 4>even up to close to forty people inside the party

171
00:09:53.240 --> 00:09:55.519
<v Speaker 4>room who are part of the executive as well as

172
00:09:55.519 --> 00:09:59.600
<v Speaker 4>the parliament. Now those forty people control the other fifty backbenches.

173
00:10:00.200 --> 00:10:01.799
<v Speaker 4>And I saw it in my time in the Liberal

174
00:10:01.840 --> 00:10:04.600
<v Speaker 4>Party that very few people today will get up and

175
00:10:04.600 --> 00:10:07.799
<v Speaker 4>speak in the party room against what the ministers want

176
00:10:08.200 --> 00:10:10.320
<v Speaker 4>because they know their careers will be damaged. So I

177
00:10:10.320 --> 00:10:13.360
<v Speaker 4>would we need I mean, this is hypothetical, but it

178
00:10:13.399 --> 00:10:15.840
<v Speaker 4>doesn't have to be. We need to get our ministers

179
00:10:15.879 --> 00:10:17.840
<v Speaker 4>outside of parliament and do it to the United States

180
00:10:17.919 --> 00:10:21.759
<v Speaker 4>doesn't have their executives, so your secretary of State, secretary

181
00:10:21.759 --> 00:10:25.840
<v Speaker 4>of Trade or whatever, outside of the actual parliament itself,

182
00:10:26.320 --> 00:10:29.080
<v Speaker 4>because they have way too much influence. And of course

183
00:10:29.320 --> 00:10:32.639
<v Speaker 4>the executive the executive are the ministers. Most of these

184
00:10:32.679 --> 00:10:35.320
<v Speaker 4>ministers come from safe seats to win a pre selection

185
00:10:35.440 --> 00:10:37.200
<v Speaker 4>in a safe seat in one of the major parties,

186
00:10:37.240 --> 00:10:39.320
<v Speaker 4>you have to be a party hack. In other words,

187
00:10:39.399 --> 00:10:41.759
<v Speaker 4>you know you joined the party when you started university.

188
00:10:42.120 --> 00:10:44.799
<v Speaker 4>You know you're sucked up throughout the young OLMP, young labor.

189
00:10:45.000 --> 00:10:47.000
<v Speaker 4>So you spent your life sucking up to get into

190
00:10:47.039 --> 00:10:48.600
<v Speaker 4>the ministry, and then by the time you're in the

191
00:10:48.600 --> 00:10:51.399
<v Speaker 4>ministry you don't know how to say so. And very

192
00:10:51.399 --> 00:10:53.559
<v Speaker 4>few of these people are subject matter experts. I mean,

193
00:10:53.600 --> 00:10:56.360
<v Speaker 4>you look at the last two health ministers, Greg Hunt

194
00:10:56.399 --> 00:10:59.919
<v Speaker 4>and Mark Butler, or even Jim Chalmers is an economist,

195
00:11:00.039 --> 00:11:02.679
<v Speaker 4>did his poh down Paul Heating? I mean would he

196
00:11:02.720 --> 00:11:04.399
<v Speaker 4>doesn't really know? You know, he would if I asked

197
00:11:04.440 --> 00:11:06.080
<v Speaker 4>him what the way to average cost to capital is?

198
00:11:06.120 --> 00:11:08.000
<v Speaker 4>To calculate way to average cost to capital? I doubt

199
00:11:08.000 --> 00:11:10.840
<v Speaker 4>that he'd have a clue about what I was talking about. So,

200
00:11:11.000 --> 00:11:15.159
<v Speaker 4>you know, economists aren't accountants. That's something that many of

201
00:11:15.200 --> 00:11:18.399
<v Speaker 4>you listeners might be aware of. So ultimately it's this

202
00:11:18.480 --> 00:11:21.240
<v Speaker 4>punch and duty show between the two major parties. But

203
00:11:21.320 --> 00:11:23.919
<v Speaker 4>the real puppet masters are the ones behind the stage,

204
00:11:24.080 --> 00:11:25.919
<v Speaker 4>and they're the big four that I just mentioned before,

205
00:11:25.919 --> 00:11:28.840
<v Speaker 4>big media, big bureaucrats, big corporations, big Suber.

206
00:11:29.080 --> 00:11:31.639
<v Speaker 3>You speak so differently to other politicians. For the record

207
00:11:31.679 --> 00:11:33.639
<v Speaker 3>and the viewers out there, I'm not being paid for this.

208
00:11:33.720 --> 00:11:36.399
<v Speaker 3>I'm not sponsored by anyone. I'm just an Australian seeking

209
00:11:36.440 --> 00:11:40.200
<v Speaker 3>the truth. I've reached out to many politicians and so

210
00:11:40.399 --> 00:11:42.240
<v Speaker 3>you were the only one who responded. So thank you.

211
00:11:42.240 --> 00:11:44.399
<v Speaker 3>And this is an indication of how you are different

212
00:11:44.399 --> 00:11:47.120
<v Speaker 3>to the other politicians. And my audience has been screaming

213
00:11:47.120 --> 00:11:49.440
<v Speaker 3>to hear you speak more for the work that you're doing.

214
00:11:49.480 --> 00:11:51.679
<v Speaker 3>Have you ever been threatened for being a Senator of

215
00:11:51.679 --> 00:11:52.639
<v Speaker 3>the way that you speak.

216
00:11:53.080 --> 00:11:55.440
<v Speaker 4>Oh, I've had a couple of death threats from people

217
00:11:55.639 --> 00:11:59.639
<v Speaker 4>over the Ukraine issue. Yeah, my staff have had some threats.

218
00:12:00.039 --> 00:12:02.919
<v Speaker 4>We've had some threats that way. And then i had

219
00:12:03.000 --> 00:12:05.720
<v Speaker 4>threats from colleagues when I'm going to tell my vote

220
00:12:05.759 --> 00:12:07.799
<v Speaker 4>over COVID that they were going to lose the election.

221
00:12:07.919 --> 00:12:10.559
<v Speaker 4>I needed to put my head in and I was like, well,

222
00:12:10.679 --> 00:12:13.679
<v Speaker 4>you know, people have been killed and injured, permanently injured

223
00:12:13.759 --> 00:12:14.840
<v Speaker 4>and losing their jobs.

224
00:12:15.039 --> 00:12:16.159
<v Speaker 1>I'm not going to walk past.

225
00:12:16.159 --> 00:12:18.120
<v Speaker 4>I mean the climate change stuff right, well, you know

226
00:12:18.159 --> 00:12:20.919
<v Speaker 4>the climate change is that's a tautology. Who was wet

227
00:12:21.000 --> 00:12:21.639
<v Speaker 4>climate change?

228
00:12:21.759 --> 00:12:21.960
<v Speaker 1>Right?

229
00:12:22.000 --> 00:12:25.080
<v Speaker 4>But that stuff isn't going to necessarily destroy someone's life

230
00:12:25.080 --> 00:12:28.440
<v Speaker 4>in twenty four hours, whereas the vaccines did. And I

231
00:12:28.480 --> 00:12:31.840
<v Speaker 4>was overwhelmed. Actually funny, I was overwhelmed enough to know

232
00:12:31.960 --> 00:12:34.840
<v Speaker 4>that this wasn't just sort of one in a million injuries.

233
00:12:34.879 --> 00:12:37.799
<v Speaker 4>This was very high rate of injury, and in my view,

234
00:12:38.080 --> 00:12:40.679
<v Speaker 4>occurring to younger people who weren't going to necessarily have

235
00:12:40.720 --> 00:12:43.440
<v Speaker 4>a bad injury from the flu itself. So yes, I've

236
00:12:43.440 --> 00:12:46.559
<v Speaker 4>been threatened by my colleagues, not in a physical sense,

237
00:12:46.639 --> 00:12:48.759
<v Speaker 4>but you know, with my pre selection and in the

238
00:12:48.840 --> 00:12:50.840
<v Speaker 4>end I lost my pre selection because of what I did.

239
00:12:50.960 --> 00:12:52.840
<v Speaker 4>But you know, I've got to live with my own conscience.

240
00:12:53.519 --> 00:12:55.360
<v Speaker 4>And even though I'd like to get back in and

241
00:12:55.399 --> 00:12:57.639
<v Speaker 4>serve for another six years, it would have killed me

242
00:12:57.720 --> 00:12:59.720
<v Speaker 4>during another six years inside the Liberal Party living in

243
00:12:59.720 --> 00:13:03.159
<v Speaker 4>the law. So I sort of if I don't get

244
00:13:03.200 --> 00:13:05.200
<v Speaker 4>back in, at least I can sort of free my

245
00:13:05.279 --> 00:13:08.720
<v Speaker 4>conscience of the self loathing, of not being true to

246
00:13:08.759 --> 00:13:11.720
<v Speaker 4>myself and true of my values and serving Australian people

247
00:13:12.039 --> 00:13:15.159
<v Speaker 4>and hence, while we call that party people first. But so, yeah,

248
00:13:15.159 --> 00:13:16.000
<v Speaker 4>I've been threatened.

249
00:13:16.679 --> 00:13:18.480
<v Speaker 3>I'm sorry to hear that you were outspoken about the

250
00:13:18.559 --> 00:13:20.639
<v Speaker 3>vaccine you've just mentioned it now. Is it true that

251
00:13:20.919 --> 00:13:24.600
<v Speaker 3>judges and politicians were exempt from taking the vacs?

252
00:13:25.000 --> 00:13:25.200
<v Speaker 1>Yeah?

253
00:13:25.200 --> 00:13:28.960
<v Speaker 4>Absolutely, yeah, you can't technically, no one. I mean I

254
00:13:29.000 --> 00:13:32.639
<v Speaker 4>think some state MPs. I think Victoria motive. I think

255
00:13:32.679 --> 00:13:35.000
<v Speaker 4>a few state MP's were locked out of parliament, and

256
00:13:35.039 --> 00:13:37.399
<v Speaker 4>maybe in a couple of other states. But yeah, no,

257
00:13:37.840 --> 00:13:41.519
<v Speaker 4>And the reason for that. Ad Morrison tried that on myself,

258
00:13:41.600 --> 00:13:45.559
<v Speaker 4>Creig Kelly, George Christensen, alexandik to name a few. We

259
00:13:45.600 --> 00:13:47.639
<v Speaker 4>wouldn't have taken it and then they wouldn't have had

260
00:13:47.679 --> 00:13:51.159
<v Speaker 4>the numbers on the floor. So technically I report to

261
00:13:51.159 --> 00:13:53.679
<v Speaker 4>no one in the sense that even when I was

262
00:13:53.720 --> 00:13:55.720
<v Speaker 4>in the Liberal Party, you know, you can defect. I mean,

263
00:13:56.080 --> 00:13:58.159
<v Speaker 4>once you're in, you're in. I mean you're basically you

264
00:13:58.159 --> 00:13:59.960
<v Speaker 4>can only get kicked out if you're a bankrupt or

265
00:14:00.120 --> 00:14:02.960
<v Speaker 4>commit a crime. If I'm not saying, I think they're

266
00:14:02.960 --> 00:14:05.600
<v Speaker 4>the two ones you can get kicked out for, so effectively,

267
00:14:05.759 --> 00:14:08.240
<v Speaker 4>that's correct. I mean, I think the proper way to

268
00:14:08.240 --> 00:14:10.960
<v Speaker 4>put it is is that it was in mandates when

269
00:14:11.000 --> 00:14:13.440
<v Speaker 4>it plays on federal politicians and judges in the same

270
00:14:13.440 --> 00:14:14.919
<v Speaker 4>way that it plays on everyone else.

271
00:14:15.200 --> 00:14:18.480
<v Speaker 3>So I understand what you just said about that political questians, Yeah,

272
00:14:18.639 --> 00:14:21.159
<v Speaker 3>why not the judges? Why were we forced to take

273
00:14:21.200 --> 00:14:24.279
<v Speaker 3>the vacs? Noting also Australia signed up to the Numberg Treaty,

274
00:14:24.279 --> 00:14:27.759
<v Speaker 3>which prohibited medical experiments or forcing medical procedures on humans.

275
00:14:28.000 --> 00:14:30.799
<v Speaker 3>Yet countless Australians were forced to take a vax or

276
00:14:30.799 --> 00:14:33.919
<v Speaker 3>lose their income. So why were judges exempt from it

277
00:14:34.000 --> 00:14:35.080
<v Speaker 3>and not us?

278
00:14:35.840 --> 00:14:38.759
<v Speaker 4>Well, that's the question you've got to ask Scott Morris.

279
00:14:38.759 --> 00:14:41.399
<v Speaker 4>But yet again, so that's separation of powers, So politicians

280
00:14:41.440 --> 00:14:44.639
<v Speaker 4>can't tell judges what to do. My understanding of it

281
00:14:44.799 --> 00:14:47.039
<v Speaker 4>was I do know someone who was in the judiciary

282
00:14:47.200 --> 00:14:49.039
<v Speaker 4>or sort of quasi judiciary, if you want to call

283
00:14:49.039 --> 00:14:51.519
<v Speaker 4>it that, and I think you couldn't enter some of

284
00:14:51.559 --> 00:14:54.480
<v Speaker 4>those buildings. There are a couple of legal buildings that

285
00:14:54.600 --> 00:14:56.240
<v Speaker 4>a couple I do know, a couple of people in

286
00:14:56.279 --> 00:14:58.919
<v Speaker 4>that industry that couldn't get to work, to work from home.

287
00:14:59.360 --> 00:15:01.759
<v Speaker 4>But technically that's because of the separation of powers. So

288
00:15:01.879 --> 00:15:04.320
<v Speaker 4>you can't tell a judge what to do. Politician can't

289
00:15:04.320 --> 00:15:06.879
<v Speaker 4>tell a judge what to do for the obvious reason,

290
00:15:06.919 --> 00:15:08.919
<v Speaker 4>and that every time that you wanted to sue a

291
00:15:08.960 --> 00:15:12.120
<v Speaker 4>politician or the government, the politician tell the judge to

292
00:15:12.120 --> 00:15:14.639
<v Speaker 4>say not guilty. Right, that's why it happened. I mean,

293
00:15:14.679 --> 00:15:17.399
<v Speaker 4>the issue isn't that they've got exemptions. The issue is

294
00:15:17.440 --> 00:15:21.759
<v Speaker 4>the double standards, because it's not we like I said,

295
00:15:21.799 --> 00:15:23.559
<v Speaker 4>we couldn't tell the judges. What's not not that I

296
00:15:23.639 --> 00:15:25.360
<v Speaker 4>was telling them what to do this this is obviously

297
00:15:25.399 --> 00:15:28.399
<v Speaker 4>the ministry. But it was the double standards. It's the

298
00:15:28.480 --> 00:15:31.679
<v Speaker 4>hypocrisy of the double standards. And that's what stemps There's

299
00:15:31.799 --> 00:15:33.720
<v Speaker 4>one law for them and another for us. Even though

300
00:15:33.759 --> 00:15:35.639
<v Speaker 4>I am one of them, I see myself as one

301
00:15:35.639 --> 00:15:35.840
<v Speaker 4>of you.

302
00:15:36.039 --> 00:15:37.159
<v Speaker 1>So that yeah, there was.

303
00:15:37.720 --> 00:15:39.639
<v Speaker 4>And that's the thing. It's the double standards. I mean,

304
00:15:39.639 --> 00:15:41.919
<v Speaker 4>it's like to define benefits scheme for retired bureaucrats. I

305
00:15:41.960 --> 00:15:44.240
<v Speaker 4>mean it's like, you know, that's that's the liability of

306
00:15:44.279 --> 00:15:46.440
<v Speaker 4>three hundred and forty billion dollars cost about ten billion

307
00:15:46.440 --> 00:15:49.159
<v Speaker 4>dollars a year. David Anderson from the ABC has been

308
00:15:49.200 --> 00:15:51.200
<v Speaker 4>paid seven over a million dollars for the last seven

309
00:15:51.279 --> 00:15:54.120
<v Speaker 4>years around a million dollars for the last seven years.

310
00:15:54.159 --> 00:15:56.240
<v Speaker 4>He's just retired as many as director of the ABC.

311
00:15:56.720 --> 00:15:58.399
<v Speaker 4>His final salary is thirty seven per cent of his

312
00:15:58.440 --> 00:16:00.600
<v Speaker 4>final income, which is four hundred hours knowledge a year

313
00:16:00.639 --> 00:16:03.320
<v Speaker 4>until he dies. If he's fifty six now, it lives

314
00:16:03.440 --> 00:16:05.919
<v Speaker 4>under thirty years till he's eighty six. That's twelve million bucks,

315
00:16:06.279 --> 00:16:09.000
<v Speaker 4>despite the fact he's probably already a multi millionaire, given

316
00:16:09.039 --> 00:16:10.639
<v Speaker 4>that he's been paid over a million bucks in the last

317
00:16:10.679 --> 00:16:13.759
<v Speaker 4>seven years. So yet again, why isn't he means tested

318
00:16:13.919 --> 00:16:17.639
<v Speaker 4>to get his pension? And I'm talking about the define benefit.

319
00:16:17.639 --> 00:16:19.960
<v Speaker 4>I'm not talking about your contributions. That's a different thing

320
00:16:20.000 --> 00:16:23.080
<v Speaker 4>where it's vested. I'm talking about the part where it's

321
00:16:23.120 --> 00:16:25.639
<v Speaker 4>not vested and the tax payer has to stump up

322
00:16:25.679 --> 00:16:29.120
<v Speaker 4>the difference. And the thing about that scheme is the wealth.

323
00:16:29.159 --> 00:16:32.759
<v Speaker 4>The more you are paid throughout your working career, the

324
00:16:32.799 --> 00:16:34.799
<v Speaker 4>more you get when you retire, when it should be

325
00:16:34.799 --> 00:16:36.600
<v Speaker 4>the other way around. The whole idea of the pension

326
00:16:36.639 --> 00:16:39.399
<v Speaker 4>is to help those people that had low incomes throughout

327
00:16:39.440 --> 00:16:42.840
<v Speaker 4>their working career but kept working because there's always you know,

328
00:16:42.960 --> 00:16:44.639
<v Speaker 4>the cost of aasets, the cost of living and all

329
00:16:44.639 --> 00:16:47.039
<v Speaker 4>that stuff's a relative concept, right, There's always going to

330
00:16:47.039 --> 00:16:49.600
<v Speaker 4>be people earning the bottom in the bottom, the lower

331
00:16:49.639 --> 00:16:54.399
<v Speaker 4>fifty percent of wage journers, right, So the cost of

332
00:16:54.440 --> 00:16:57.960
<v Speaker 4>everything is a function of purchasing power. So it's the

333
00:16:58.000 --> 00:17:01.320
<v Speaker 4>bottom fifty percent that still worked for forty years. You know,

334
00:17:01.519 --> 00:17:03.559
<v Speaker 4>I was just here late last night in the office

335
00:17:03.559 --> 00:17:06.119
<v Speaker 4>and a cleaner came in eleven o'clock. You know, it

336
00:17:06.079 --> 00:17:09.200
<v Speaker 4>should be paid pittance, But they're are cleaning rooms and

337
00:17:09.240 --> 00:17:12.119
<v Speaker 4>things like that. And those people deserve our respect because

338
00:17:12.400 --> 00:17:14.200
<v Speaker 4>they work hard. They work shift with a lot of

339
00:17:14.240 --> 00:17:17.359
<v Speaker 4>these people's shift workers. And you know, they're only getting

340
00:17:17.359 --> 00:17:20.079
<v Speaker 4>through a percent of a fifty income, whereas the wealthy

341
00:17:20.079 --> 00:17:21.720
<v Speaker 4>people get to a percent of a high income. So

342
00:17:21.920 --> 00:17:24.400
<v Speaker 4>the whole idea of this define benefit been percentage of

343
00:17:24.440 --> 00:17:28.680
<v Speaker 4>your final incomes. Quite it's counterintuitive because really it's the

344
00:17:28.720 --> 00:17:30.920
<v Speaker 4>other way around. It's the lower incomes that should be

345
00:17:30.920 --> 00:17:33.400
<v Speaker 4>getting the high well not not necessarily a higher pension

346
00:17:33.480 --> 00:17:35.680
<v Speaker 4>other people, but you want to pension that's acts as

347
00:17:35.680 --> 00:17:38.240
<v Speaker 4>a safety net, but not as a hammock. And this

348
00:17:38.359 --> 00:17:40.480
<v Speaker 4>defined benefits schemes are hammock. I mean, some of these

349
00:17:40.480 --> 00:17:42.799
<v Speaker 4>people are just not they're getting paids outrageous.

350
00:17:43.119 --> 00:17:45.759
<v Speaker 3>It's a good segue into our economy in Australia. We

351
00:17:45.759 --> 00:17:49.000
<v Speaker 3>have an abundance of land and resources, ingenuity and the

352
00:17:49.000 --> 00:17:52.000
<v Speaker 3>big demand on our products, yet equally We've never been

353
00:17:52.039 --> 00:17:54.480
<v Speaker 3>so poor. That is, I've never earned so much money

354
00:17:54.519 --> 00:17:56.359
<v Speaker 3>in my life and had so many assets, yet I've

355
00:17:56.359 --> 00:17:58.839
<v Speaker 3>never felt so poor, and I see the same around me.

356
00:17:59.200 --> 00:17:59.880
<v Speaker 3>What's going on.

357
00:18:00.839 --> 00:18:03.400
<v Speaker 4>What's going on, quite simply, is the fact that we

358
00:18:03.440 --> 00:18:07.519
<v Speaker 4>have allowed equity to become debt the biggest brain washing exercise.

359
00:18:07.599 --> 00:18:10.000
<v Speaker 4>So we are familiar with how our children believe that

360
00:18:10.319 --> 00:18:12.160
<v Speaker 4>the extra one hundred parts per million and one part

361
00:18:12.160 --> 00:18:15.440
<v Speaker 4>per ten thousand CO two molecules in the atmosphere is

362
00:18:15.440 --> 00:18:18.160
<v Speaker 4>heated up the degree by atmosphere by a degree one

363
00:18:18.160 --> 00:18:20.440
<v Speaker 4>and a half degrees. Now, we were brainwashed in the

364
00:18:20.480 --> 00:18:24.480
<v Speaker 4>eighties with the idea that you can't print money out

365
00:18:24.480 --> 00:18:27.359
<v Speaker 4>of thin air. Now that's an oxymoronic statement. All money

366
00:18:27.400 --> 00:18:29.559
<v Speaker 4>is printed out of thin air, and it's been printed

367
00:18:29.599 --> 00:18:31.440
<v Speaker 4>out of thin air, but in the last four decades

368
00:18:31.440 --> 00:18:34.000
<v Speaker 4>by the Japanese Central Bank, originally in the late eighties,

369
00:18:34.279 --> 00:18:36.640
<v Speaker 4>and then green Span started to turn it on in

370
00:18:36.680 --> 00:18:39.559
<v Speaker 4>the late nineties early two thousands, as did ThEC BE.

371
00:18:40.279 --> 00:18:43.359
<v Speaker 4>So all central banks print money. They've been issuing bonds

372
00:18:43.480 --> 00:18:46.519
<v Speaker 4>through quantitative easing for about well, if you start with

373
00:18:46.559 --> 00:18:49.039
<v Speaker 4>the Japanese in the late eighties. For what's that three

374
00:18:49.079 --> 00:18:52.319
<v Speaker 4>decades now, so that's a myth, and central banks have

375
00:18:52.359 --> 00:18:55.839
<v Speaker 4>been doing it except for except for the RBA, for

376
00:18:55.880 --> 00:18:57.759
<v Speaker 4>the one exception of COVID where they did print three

377
00:18:57.839 --> 00:19:00.599
<v Speaker 4>hundred million dollars which was to pay people to stay

378
00:19:00.599 --> 00:19:04.000
<v Speaker 4>at home and do nothing right, which was completely absurd. Now,

379
00:19:04.359 --> 00:19:05.960
<v Speaker 4>if you know what a balance sheet looks like, you've

380
00:19:05.960 --> 00:19:07.759
<v Speaker 4>got an asset on the right hand side of your

381
00:19:07.759 --> 00:19:09.960
<v Speaker 4>balance sheet. On the right hand side, you've got this

382
00:19:09.960 --> 00:19:13.000
<v Speaker 4>thing called capital, which is either debt or equity. Right,

383
00:19:13.119 --> 00:19:16.079
<v Speaker 4>this is an arbitrary construct. Debt or equity is either

384
00:19:16.839 --> 00:19:20.039
<v Speaker 4>it's either a mortgage it's a legal document mortgage or

385
00:19:20.079 --> 00:19:25.119
<v Speaker 4>its title. We have title, so that equity title is equity.

386
00:19:25.200 --> 00:19:25.400
<v Speaker 2>Right.

387
00:19:25.480 --> 00:19:27.680
<v Speaker 4>We are a sovereign country with access to seven million

388
00:19:27.720 --> 00:19:31.400
<v Speaker 4>square kilometers. Now, while it's foolish to print money and

389
00:19:31.440 --> 00:19:34.279
<v Speaker 4>spend it ie print and spend which will increase demand,

390
00:19:34.720 --> 00:19:38.119
<v Speaker 4>it is not foolish to let's call it issuing shares.

391
00:19:38.160 --> 00:19:40.079
<v Speaker 4>So we all know that companies on the Stock Exchange

392
00:19:40.119 --> 00:19:42.839
<v Speaker 4>issue shares. If BHP were to issue shares to build

393
00:19:42.880 --> 00:19:46.000
<v Speaker 4>a new cold mine tomorrow, the nearly rules wouldn't be going. Well,

394
00:19:46.039 --> 00:19:48.599
<v Speaker 4>you can't print shares out of thin air, can you right?

395
00:19:48.680 --> 00:19:50.680
<v Speaker 4>Like that happens all the time on the stock market.

396
00:19:51.160 --> 00:19:55.240
<v Speaker 4>As a country, we can issue new shares against assets

397
00:19:55.279 --> 00:19:57.119
<v Speaker 4>that produce wealth or give us wealth.

398
00:19:57.640 --> 00:19:57.839
<v Speaker 1>Right.

399
00:19:57.920 --> 00:20:00.519
<v Speaker 4>So if you're going to issue credit out of thin air,

400
00:20:00.559 --> 00:20:03.599
<v Speaker 4>which is what everyone does, it's an arbitrary construct. You

401
00:20:03.720 --> 00:20:06.720
<v Speaker 4>need to be responsible and secure that credit against a

402
00:20:06.799 --> 00:20:09.519
<v Speaker 4>debit right, not an expense on the balance at or

403
00:20:09.559 --> 00:20:11.880
<v Speaker 4>a debit expense credit debt. You want a debit asset,

404
00:20:11.920 --> 00:20:16.160
<v Speaker 4>credit equity right, and those assets that we have the assets.

405
00:20:16.160 --> 00:20:17.559
<v Speaker 4>So if we're going to print money out of thin air,

406
00:20:17.599 --> 00:20:19.759
<v Speaker 4>we match it with assets that come out of thin air.

407
00:20:20.000 --> 00:20:23.519
<v Speaker 4>What are those assets? Rain, sunlight, soil and the minerals

408
00:20:23.519 --> 00:20:26.200
<v Speaker 4>in those soils. How do we get wealth? We answer

409
00:20:26.200 --> 00:20:28.319
<v Speaker 4>that question every time we sing the national anthem. It

410
00:20:28.440 --> 00:20:29.359
<v Speaker 4>is wealth for toiled.

411
00:20:29.759 --> 00:20:29.960
<v Speaker 1>Right.

412
00:20:29.960 --> 00:20:32.119
<v Speaker 4>If I go out to the farm and start digging

413
00:20:32.119 --> 00:20:37.000
<v Speaker 4>a hole, I can basically with toil and with the

414
00:20:37.039 --> 00:20:39.039
<v Speaker 4>dirt and the rain, I can build a dam. Then

415
00:20:39.039 --> 00:20:42.000
<v Speaker 4>I can build irrigation, then I can grow crops. Right

416
00:20:42.119 --> 00:20:45.359
<v Speaker 4>that comes from hard sweat. That is all stuff that

417
00:20:45.400 --> 00:20:47.599
<v Speaker 4>comes out of thin air. So what we want to

418
00:20:47.640 --> 00:20:50.000
<v Speaker 4>do at people first is we want to issue shares

419
00:20:50.079 --> 00:20:52.000
<v Speaker 4>or the equivalent of infrastructure bond. So we're going to

420
00:20:52.000 --> 00:20:54.400
<v Speaker 4>issue rue share and call it unsapped wealth. It is

421
00:20:54.440 --> 00:20:56.559
<v Speaker 4>going to own an infrastructure bank owned by the people

422
00:20:56.599 --> 00:20:58.640
<v Speaker 4>of Australia via the federal.

423
00:20:58.279 --> 00:21:00.599
<v Speaker 1>Government and by the Parliament.

424
00:21:00.599 --> 00:21:03.359
<v Speaker 4>It can only issue infrastructure bonds, which is the equivalent

425
00:21:03.400 --> 00:21:07.759
<v Speaker 4>of shares for seven sovereign our sets dams, power stations, tunnels,

426
00:21:07.920 --> 00:21:12.559
<v Speaker 4>rail ports, airports and telecommunications. And what happens is we'll

427
00:21:12.559 --> 00:21:14.599
<v Speaker 4>issue a fifty a billion You know, if you build

428
00:21:14.599 --> 00:21:16.319
<v Speaker 4>a dam for billion dollars today. I'm just going to

429
00:21:16.319 --> 00:21:18.480
<v Speaker 4>go slightly off on attention to here. If we build

430
00:21:18.519 --> 00:21:21.200
<v Speaker 4>a dam for billion dollars today and we borrow that

431
00:21:21.279 --> 00:21:23.839
<v Speaker 4>money from offshore, which is what we do, that means

432
00:21:23.880 --> 00:21:26.000
<v Speaker 4>the first billion dollars in wealth we create we have

433
00:21:26.039 --> 00:21:29.039
<v Speaker 4>to repay offshore because we're using another country's printing press.

434
00:21:29.559 --> 00:21:31.440
<v Speaker 4>We then have to play at least another billion dollars

435
00:21:31.440 --> 00:21:33.599
<v Speaker 4>in interest, let's say twenty five years at four percent.

436
00:21:33.920 --> 00:21:36.680
<v Speaker 4>We've just given up two billion dollars worth of capital

437
00:21:36.720 --> 00:21:40.359
<v Speaker 4>of wealth because we don't understand capital management right. Capital

438
00:21:40.400 --> 00:21:43.160
<v Speaker 4>management when you're dealing with a business is king okay,

439
00:21:43.200 --> 00:21:45.480
<v Speaker 4>And we have to understand, we have equity over all

440
00:21:45.480 --> 00:21:48.000
<v Speaker 4>these resources. So if we issue a bond to the

441
00:21:48.079 --> 00:21:51.440
<v Speaker 4>Queensland State government to build a dam, for anyone, an

442
00:21:51.440 --> 00:21:54.039
<v Speaker 4>issue a billion dollar bond, you just paid five million

443
00:21:54.079 --> 00:21:56.839
<v Speaker 4>dollars a week to pay for concrete wages, you know,

444
00:21:56.920 --> 00:21:59.000
<v Speaker 4>the d tens to build a dam whatever. So a

445
00:21:59.039 --> 00:22:01.599
<v Speaker 4>lot of that money would be generating profits. A lot

446
00:22:01.599 --> 00:22:03.279
<v Speaker 4>of that money be coming straight back to camera in

447
00:22:03.279 --> 00:22:05.799
<v Speaker 4>the form of taxes anyway, right and employing people, and

448
00:22:05.839 --> 00:22:08.880
<v Speaker 4>then you'd get payroll tax, you'd get GST et cetera,

449
00:22:08.920 --> 00:22:11.920
<v Speaker 4>et cetera. So after say two years of dam construction,

450
00:22:11.960 --> 00:22:14.039
<v Speaker 4>you'll end up with two billion dollars in work in progress.

451
00:22:14.039 --> 00:22:15.240
<v Speaker 1>You convert that to an asset.

452
00:22:15.640 --> 00:22:18.359
<v Speaker 4>But over the next fifty years that loan is repaid

453
00:22:18.960 --> 00:22:22.039
<v Speaker 4>back to the federal government. The federal government collects interests

454
00:22:22.119 --> 00:22:25.200
<v Speaker 4>from the Infrastructure Bank and that either it then goes

455
00:22:25.240 --> 00:22:27.720
<v Speaker 4>into a development bank that then re lands the profits

456
00:22:27.759 --> 00:22:30.920
<v Speaker 4>to councils, so the councils don't have to pay interest

457
00:22:30.920 --> 00:22:33.559
<v Speaker 4>to private banks. So that way we lower rates and

458
00:22:33.599 --> 00:22:36.960
<v Speaker 4>we are basically keeping the cost of finance in our

459
00:22:37.000 --> 00:22:40.119
<v Speaker 4>own countries, so we are not paying other countries to

460
00:22:40.319 --> 00:22:42.960
<v Speaker 4>use interest to use our own currency or to use

461
00:22:43.000 --> 00:22:47.200
<v Speaker 4>someone else's currencies, and we're retaining the capital wealth, you know,

462
00:22:47.440 --> 00:22:52.640
<v Speaker 4>the capital, the true wealth ie capital equity, capital that

463
00:22:52.799 --> 00:22:55.440
<v Speaker 4>is generated when that's rainfalls from the sky every year.

464
00:22:55.519 --> 00:22:56.920
<v Speaker 4>So if we drop a bull in a paddic with

465
00:22:56.960 --> 00:22:59.440
<v Speaker 4>twenty cows and if he's any good as a bull,

466
00:22:59.480 --> 00:23:01.839
<v Speaker 4>and we come back next year, we've got fifteen twenty carbs.

467
00:23:02.319 --> 00:23:04.599
<v Speaker 4>That is wealth coming out of the sky every year.

468
00:23:04.960 --> 00:23:07.079
<v Speaker 4>We just need to make sure that wealth is directed

469
00:23:07.400 --> 00:23:09.720
<v Speaker 4>back to us and stays in our country, so it

470
00:23:09.759 --> 00:23:12.720
<v Speaker 4>goes as dividends to our children and not as interest

471
00:23:12.799 --> 00:23:13.240
<v Speaker 4>off shore.

472
00:23:14.000 --> 00:23:14.880
<v Speaker 1>Does that make sense?

473
00:23:15.160 --> 00:23:18.200
<v Speaker 3>Everything you're saying is perfectly logical. But where's the money

474
00:23:18.240 --> 00:23:20.640
<v Speaker 3>going now? Who's making all the profits in Australia.

475
00:23:21.599 --> 00:23:24.119
<v Speaker 4>Well, the banks make all the profits and it's becoming

476
00:23:24.160 --> 00:23:26.319
<v Speaker 4>more and more concentrated right now. The other thing is

477
00:23:26.359 --> 00:23:28.519
<v Speaker 4>a lot of it's going offshore. So the second part

478
00:23:28.559 --> 00:23:31.799
<v Speaker 4>of this solution, in terms of big ticket items here

479
00:23:31.920 --> 00:23:34.880
<v Speaker 4>in structural changes. We have to change our tax system.

480
00:23:35.200 --> 00:23:37.359
<v Speaker 4>So we've got a thirty cent on short company tax rate.

481
00:23:37.400 --> 00:23:39.519
<v Speaker 4>We've got an off short company tax rator between zero

482
00:23:39.559 --> 00:23:42.559
<v Speaker 4>and fifteen cents in twenty and twenty two, fian made

483
00:23:42.640 --> 00:23:45.880
<v Speaker 4>one point four billion dollars dollars in sales here. They

484
00:23:45.920 --> 00:23:48.960
<v Speaker 4>shifted a billion dollars off shore to Island for royalties

485
00:23:49.240 --> 00:23:52.319
<v Speaker 4>White Island and because file Advisor most of the factories

486
00:23:52.359 --> 00:23:54.799
<v Speaker 4>that aren't even in Ireland. You know, if I engage

487
00:23:54.799 --> 00:23:59.119
<v Speaker 4>a plumber here on in Queensland on Facebook, that Facebook

488
00:23:59.160 --> 00:24:02.119
<v Speaker 4>ad goes over ease. That's ridiculous, right, like the money

489
00:24:02.319 --> 00:24:06.319
<v Speaker 4>we paid Fiser Island to advertise on Facebook, for example.

490
00:24:06.640 --> 00:24:08.839
<v Speaker 4>So the reason for that is Island has a withholding

491
00:24:08.880 --> 00:24:11.720
<v Speaker 4>tax rate on royalties of ten percent. Right, they have

492
00:24:11.799 --> 00:24:14.200
<v Speaker 4>a company, so we have a withholding tax rate paid

493
00:24:14.200 --> 00:24:16.680
<v Speaker 4>to Island of ten percent, so that's money going off shore.

494
00:24:17.119 --> 00:24:18.960
<v Speaker 4>And Island has a company tax rate at twelve and

495
00:24:19.000 --> 00:24:21.240
<v Speaker 4>a half cents, So ten plus twelve and a half

496
00:24:21.279 --> 00:24:23.599
<v Speaker 4>is twenty two and a half cents. That is less

497
00:24:23.640 --> 00:24:25.960
<v Speaker 4>than thirty cents. So one of the big myths we've

498
00:24:25.960 --> 00:24:28.279
<v Speaker 4>been told is that you can't have double taxation. That's

499
00:24:28.519 --> 00:24:32.400
<v Speaker 4>a lie. What you can't have a nonstructured tax deals

500
00:24:32.759 --> 00:24:35.559
<v Speaker 4>it's the cumulative rate of tax that matters. So you

501
00:24:35.599 --> 00:24:37.920
<v Speaker 4>can go through four countries. When I work the Westfield

502
00:24:38.200 --> 00:24:40.680
<v Speaker 4>when they shift money home, they would go through four

503
00:24:40.720 --> 00:24:44.119
<v Speaker 4>countries to zero zero zero, and then there was a

504
00:24:44.160 --> 00:24:47.319
<v Speaker 4>ten percent with holding tax on dividends paid back to Australia.

505
00:24:47.680 --> 00:24:50.400
<v Speaker 4>We were taxing money coming back into Australia, but we

506
00:24:50.519 --> 00:24:52.720
<v Speaker 4>let often let money go off shore for free. Right,

507
00:24:52.960 --> 00:24:54.640
<v Speaker 4>So there's a couple of other sections the Act to

508
00:24:54.720 --> 00:24:56.960
<v Speaker 4>goes off shore for free. So we need to lift

509
00:24:56.960 --> 00:24:59.680
<v Speaker 4>the offshore that the rate of tax on offshore profits

510
00:24:59.720 --> 00:25:01.799
<v Speaker 4>and bringing the onual rate of tax here. Now, I

511
00:25:01.880 --> 00:25:04.519
<v Speaker 4>might offend so many viewers here because I know everyone

512
00:25:04.519 --> 00:25:07.680
<v Speaker 4>in this country loves franking credits. But franking credits is

513
00:25:07.759 --> 00:25:11.079
<v Speaker 4>killing us because what's happening is more and more people retire.

514
00:25:11.440 --> 00:25:13.599
<v Speaker 4>They paid no income in their super funds. As I

515
00:25:13.599 --> 00:25:15.880
<v Speaker 4>said before, super funds are getting bigger and bigger and bigger.

516
00:25:16.039 --> 00:25:18.680
<v Speaker 4>They estimate super had about eight to nine trillion dollars

517
00:25:18.680 --> 00:25:21.480
<v Speaker 4>in capital by twenty fifty. That means all that money

518
00:25:21.519 --> 00:25:23.559
<v Speaker 4>that is paid to Canberra, like for thirty cents and

519
00:25:23.599 --> 00:25:26.240
<v Speaker 4>a dollar, more and more of that is getting refunded

520
00:25:26.519 --> 00:25:29.559
<v Speaker 4>back to people in retirement. Now, I think we should

521
00:25:29.559 --> 00:25:32.440
<v Speaker 4>have a ten percent company tax rate. But he's the

522
00:25:32.519 --> 00:25:35.920
<v Speaker 4>rub No franking credits and then people pay again on

523
00:25:35.960 --> 00:25:38.559
<v Speaker 4>their marginal rate attax. Notwithstanding, we want to increase the

524
00:25:38.599 --> 00:25:41.079
<v Speaker 4>tax tree threshold the forty fifty to sixty thousand dollars.

525
00:25:41.319 --> 00:25:41.400
<v Speaker 2>Now.

526
00:25:41.480 --> 00:25:42.839
<v Speaker 4>The reason why we need to do that is but

527
00:25:43.440 --> 00:25:46.640
<v Speaker 4>we then lift the withholding tax rate on profits paid

528
00:25:46.680 --> 00:25:50.720
<v Speaker 4>off shore to twenty cents so that because currently it's

529
00:25:50.720 --> 00:25:53.599
<v Speaker 4>between zero and fifteen now, so that we stop money

530
00:25:53.640 --> 00:25:56.759
<v Speaker 4>going offshore. So you take that example with Fizer, when

531
00:25:56.799 --> 00:25:59.319
<v Speaker 4>they shifted that billion dollars in profit offshore, we lost

532
00:25:59.319 --> 00:26:02.519
<v Speaker 4>three hundred big dollars sorry, three hundred million dollars in

533
00:26:02.599 --> 00:26:04.880
<v Speaker 4>company tax. Now amediately we've got one hundred million back

534
00:26:04.960 --> 00:26:07.359
<v Speaker 4>with holding tax. We're worse off two hundred million dollars.

535
00:26:07.599 --> 00:26:10.279
<v Speaker 4>Island's better off one hundred and twenty five million dollars,

536
00:26:10.720 --> 00:26:13.519
<v Speaker 4>and Files is better off by seventy five million.

537
00:26:13.279 --> 00:26:15.680
<v Speaker 1>Dollars, So a lot of money.

538
00:26:15.759 --> 00:26:17.880
<v Speaker 4>So everyone jumps up and down about our gas and

539
00:26:17.960 --> 00:26:19.839
<v Speaker 4>how we ripped off on gas. That is the tip

540
00:26:19.880 --> 00:26:22.960
<v Speaker 4>of the iceberg. It is our entire economy where we

541
00:26:23.000 --> 00:26:26.279
<v Speaker 4>are being ripped off. Like every multinational that either is

542
00:26:26.279 --> 00:26:30.759
<v Speaker 4>Australian based or foreign multinational operating in this country is

543
00:26:30.759 --> 00:26:33.400
<v Speaker 4>shifting enormous sums of wealth offshore.

544
00:26:34.000 --> 00:26:35.880
<v Speaker 3>But of course if you stand up to that, or

545
00:26:35.920 --> 00:26:39.319
<v Speaker 3>any politician stands up to it, you're facing billions of

546
00:26:39.319 --> 00:26:42.640
<v Speaker 3>dollars of revenue and legal teams and marketing and centralized

547
00:26:42.680 --> 00:26:44.920
<v Speaker 3>media to make you look like the bad guy. Is

548
00:26:44.920 --> 00:26:45.599
<v Speaker 3>that fair to say?

549
00:26:46.960 --> 00:26:49.279
<v Speaker 4>Yeah, they'll try and distort it. They will try and

550
00:26:49.319 --> 00:26:51.799
<v Speaker 4>distort it, And it's pretty hard to argue. Like that

551
00:26:52.000 --> 00:26:53.960
<v Speaker 4>argument that I just made about all that money going

552
00:26:53.960 --> 00:26:57.480
<v Speaker 4>off shore Fiser Island, I don't see how you can

553
00:26:57.599 --> 00:27:00.759
<v Speaker 4>argue with that, Like, if you're putting Australia first, it's

554
00:27:00.799 --> 00:27:03.319
<v Speaker 4>just such, you know, it should just grind people's gears.

555
00:27:03.519 --> 00:27:04.680
<v Speaker 1>I mean, that's not the only one.

556
00:27:04.680 --> 00:27:06.480
<v Speaker 4>There's another section of the Tax Act that gives an

557
00:27:06.519 --> 00:27:09.400
<v Speaker 4>exemption to foreigners if they own less than ten percent

558
00:27:09.440 --> 00:27:13.680
<v Speaker 4>of the shares a listed company here in Australia, they

559
00:27:13.680 --> 00:27:16.559
<v Speaker 4>don't pay capital gains tax, Like what do we do?

560
00:27:16.680 --> 00:27:18.559
<v Speaker 4>And the argument that goes, oh, but we've got to

561
00:27:18.599 --> 00:27:23.440
<v Speaker 4>track foreign capital, that's complete lie saying for there's another

562
00:27:23.480 --> 00:27:26.720
<v Speaker 4>section of the Act in one thirty six Act that

563
00:27:26.759 --> 00:27:29.319
<v Speaker 4>says if big banks lend into Australia, they don't have

564
00:27:29.359 --> 00:27:32.039
<v Speaker 4>to pay tax on the interest that they pay off. Sure,

565
00:27:32.240 --> 00:27:34.319
<v Speaker 4>so you will me putting you know, put money in

566
00:27:34.319 --> 00:27:35.759
<v Speaker 4>the bank and earn interest on that. We have to

567
00:27:35.759 --> 00:27:38.240
<v Speaker 4>pay tax on that. Big banks, if they do it

568
00:27:38.279 --> 00:27:39.960
<v Speaker 4>through yeah, they've got it's a public offic test. So

569
00:27:40.000 --> 00:27:42.279
<v Speaker 4>they do have to issue it in a primary market.

570
00:27:42.720 --> 00:27:46.319
<v Speaker 4>But if they hold those bonds from the primary sale,

571
00:27:46.359 --> 00:27:50.200
<v Speaker 4>they don't pay withholding tax on that. So yet again

572
00:27:50.680 --> 00:27:54.319
<v Speaker 4>you can't justify giving foreign banks tax break. So I

573
00:27:54.319 --> 00:27:55.839
<v Speaker 4>would like to think that if we were to wake

574
00:27:55.880 --> 00:27:58.200
<v Speaker 4>people up on these issues, and hence why I'm asking

575
00:27:58.240 --> 00:28:00.559
<v Speaker 4>for people to vote for me, just ye, league, because

576
00:28:00.559 --> 00:28:02.640
<v Speaker 4>not many people understand the Tax Act like I do,

577
00:28:03.240 --> 00:28:05.519
<v Speaker 4>and we've got to close these tax loopholes. This is

578
00:28:05.559 --> 00:28:07.119
<v Speaker 4>what we've got to do, is that we've got to

579
00:28:07.119 --> 00:28:10.039
<v Speaker 4>get the word out there is how we've been shafted

580
00:28:10.359 --> 00:28:12.720
<v Speaker 4>with our monetary system. As I've just explained before, So

581
00:28:12.880 --> 00:28:16.480
<v Speaker 4>our monetary system, so people understand with our renewables, how

582
00:28:16.519 --> 00:28:19.880
<v Speaker 4>we've shut down locally domestically sourced energy supplies and then

583
00:28:19.960 --> 00:28:23.920
<v Speaker 4>replaced them with foreign renewables that are seventy percent aimed

584
00:28:23.920 --> 00:28:27.519
<v Speaker 4>by foreigners. We've done that for our debt, our money, right,

585
00:28:27.519 --> 00:28:30.599
<v Speaker 4>our capital. We're doing it with our taxation system, we're

586
00:28:30.640 --> 00:28:32.359
<v Speaker 4>doing it with immigration. I was just talking to a

587
00:28:32.359 --> 00:28:35.559
<v Speaker 4>hairdresser last night. If they know they can't get hairdressers,

588
00:28:35.599 --> 00:28:38.440
<v Speaker 4>but I think the standard wage for a hair dress

589
00:28:38.480 --> 00:28:40.720
<v Speaker 4>is about fifty five sixty thousand dollars, or at least

590
00:28:40.759 --> 00:28:43.440
<v Speaker 4>the starting wage they import hairdressers. They've got to pay

591
00:28:43.440 --> 00:28:47.000
<v Speaker 4>those hair dresses seventy five thousand at least. Yeah, yeah,

592
00:28:47.039 --> 00:28:49.599
<v Speaker 4>that's yeah. So it's amazing all these little things that

593
00:28:49.599 --> 00:28:50.079
<v Speaker 4>are out.

594
00:28:49.920 --> 00:28:52.319
<v Speaker 3>There, everything that you've described here. My opaque is that

595
00:28:52.359 --> 00:28:55.160
<v Speaker 3>perhaps the people won't understand because I found Australia is

596
00:28:55.200 --> 00:28:58.240
<v Speaker 3>financially illiterate. That is, we're taught about many things at school,

597
00:28:58.279 --> 00:29:00.440
<v Speaker 3>but we're not really taught what money is. Taught how

598
00:29:00.440 --> 00:29:02.240
<v Speaker 3>to earn money, but not how to hold it and

599
00:29:02.279 --> 00:29:04.559
<v Speaker 3>what it is. And by background, one of my degrees

600
00:29:04.599 --> 00:29:06.480
<v Speaker 3>is in economics, and I've got to admit I actually

601
00:29:06.480 --> 00:29:08.839
<v Speaker 3>didn't truly understand money until I really got into bitcoin

602
00:29:09.039 --> 00:29:12.200
<v Speaker 3>and crypto, and I'm now seeing that there's this huge

603
00:29:12.240 --> 00:29:14.759
<v Speaker 3>issue with of course inflation, and we're blamed for inflation.

604
00:29:14.799 --> 00:29:16.559
<v Speaker 3>When I buy a cup of coffee, the government says

605
00:29:16.559 --> 00:29:18.799
<v Speaker 3>it's my fault because I spent too much money. But

606
00:29:18.839 --> 00:29:21.680
<v Speaker 3>the reality is inflation is the inflation of the money

607
00:29:21.720 --> 00:29:24.359
<v Speaker 3>supply as opposed to me buying a cup of coffee.

608
00:29:24.599 --> 00:29:27.599
<v Speaker 4>Well, Adam, there's another thing that's not just increasing demand,

609
00:29:28.200 --> 00:29:30.960
<v Speaker 4>it's the lack of increase in supply. Well, so that's

610
00:29:31.079 --> 00:29:33.440
<v Speaker 4>the thing about this Infrastructure Bank. It's one of the

611
00:29:33.440 --> 00:29:35.640
<v Speaker 4>reasons why we're not building infrastructure is that because we

612
00:29:35.720 --> 00:29:38.480
<v Speaker 4>have to borrow the money, so the bureaucrats will go. So,

613
00:29:38.480 --> 00:29:40.680
<v Speaker 4>as I pointed out, before you buy cost a billion

614
00:29:40.720 --> 00:29:43.839
<v Speaker 4>dollars to build, the cost of finance to build will

615
00:29:43.880 --> 00:29:46.000
<v Speaker 4>be more than a billion dollars because it's a long term.

616
00:29:46.240 --> 00:29:48.759
<v Speaker 4>It takes twenty five twenty years to get a damn construction.

617
00:29:49.039 --> 00:29:52.119
<v Speaker 4>Some of these infrastructure projects have a very long lead

618
00:29:52.160 --> 00:29:54.920
<v Speaker 4>time before they start being used. So the interest costs

619
00:29:55.079 --> 00:29:58.200
<v Speaker 4>is huge and the cost of finance is killing the

620
00:29:58.200 --> 00:30:01.240
<v Speaker 4>capacity of the government to build it. The Infrastructure Bank

621
00:30:01.279 --> 00:30:04.240
<v Speaker 4>will increase the supply of goods and services, ie more

622
00:30:04.240 --> 00:30:07.839
<v Speaker 4>power stations, more dams, better roads, faster roads you can travel.

623
00:30:08.160 --> 00:30:10.559
<v Speaker 4>That will make it more efficient. If you build more

624
00:30:10.599 --> 00:30:12.759
<v Speaker 4>power stations that supply more energy, you will push down

625
00:30:12.759 --> 00:30:15.799
<v Speaker 4>the price of energy. So that's the other thing, and

626
00:30:15.839 --> 00:30:17.559
<v Speaker 4>that's why this Infrastructure Bank.

627
00:30:17.599 --> 00:30:18.240
<v Speaker 1>It's another way.

628
00:30:18.359 --> 00:30:21.319
<v Speaker 4>So we've seen the brutal impacts of qualitative easing through

629
00:30:21.400 --> 00:30:23.440
<v Speaker 4>just changing the price of money, which is a very

630
00:30:23.480 --> 00:30:27.599
<v Speaker 4>blood instrument. We need to complement that with genuine, productive

631
00:30:27.720 --> 00:30:32.720
<v Speaker 4>quantitative easing that increases supply in a productive manner, not

632
00:30:32.759 --> 00:30:35.640
<v Speaker 4>in an irresponsible borrow and spend or print and spend,

633
00:30:35.720 --> 00:30:39.319
<v Speaker 4>but in tap into that capital, tap into our natural

634
00:30:39.359 --> 00:30:41.480
<v Speaker 4>recurring wealth that falls out of the sky every year,

635
00:30:41.480 --> 00:30:44.319
<v Speaker 4>and then generate wealth that way, but secure it to

636
00:30:44.480 --> 00:30:45.079
<v Speaker 4>our children.

637
00:30:45.839 --> 00:30:48.079
<v Speaker 3>I'm cognis of your time. So I want to close

638
00:30:48.079 --> 00:30:50.759
<v Speaker 3>off with this question that my community will hammer me

639
00:30:50.799 --> 00:30:52.960
<v Speaker 3>if I don't ask it. In the States, we've seen

640
00:30:53.000 --> 00:30:56.039
<v Speaker 3>the US government adoptor Bitcoin Strategic Reserve, the biggest fund

641
00:30:56.079 --> 00:30:59.680
<v Speaker 3>managers on Earth have introduced Bitcoin ETFs nations is to

642
00:30:59.759 --> 00:31:03.720
<v Speaker 3>choose and investors invest in bitcoin. The Australian government recognizes

643
00:31:03.759 --> 00:31:06.839
<v Speaker 3>bitcoin by taxing it. Meanwhile, bitcoin has the ninth biggest

644
00:31:06.839 --> 00:31:09.920
<v Speaker 3>market cap of any industry globally, bigger than any bank,

645
00:31:10.039 --> 00:31:13.920
<v Speaker 3>car manufacturer or supply retailer. So in Australia we embrace

646
00:31:14.000 --> 00:31:16.720
<v Speaker 3>the Internet of knowledge. Now that we have the Internet

647
00:31:16.759 --> 00:31:20.759
<v Speaker 3>of value. Why aren't we adopting a bitcoin reserve in Australia,

648
00:31:21.160 --> 00:31:23.759
<v Speaker 3>particularly when you're also consider with the amount of gas

649
00:31:23.839 --> 00:31:26.240
<v Speaker 3>flittering in Australia, that's a lot of free energy that

650
00:31:26.279 --> 00:31:29.240
<v Speaker 3>we can tap into and simply mind free money. What

651
00:31:29.279 --> 00:31:29.960
<v Speaker 3>are your thoughts.

652
00:31:31.480 --> 00:31:33.319
<v Speaker 4>My thoughts is is that I don't think the government

653
00:31:33.359 --> 00:31:36.160
<v Speaker 4>should get involved in bitcoin. I think ultimately bitcoin is

654
00:31:36.240 --> 00:31:39.079
<v Speaker 4>want government freedom from government, and I respect that if

655
00:31:39.119 --> 00:31:41.839
<v Speaker 4>you want to have a monetary system outside the government control,

656
00:31:41.880 --> 00:31:44.920
<v Speaker 4>that's fine, but you can't have it both ways. You

657
00:31:45.000 --> 00:31:48.119
<v Speaker 4>can't want to operate outside the government and then also

658
00:31:48.160 --> 00:31:50.559
<v Speaker 4>want the government to back something that's you mean, So

659
00:31:50.640 --> 00:31:52.839
<v Speaker 4>you're free to back go hard on bitcoin and good

660
00:31:52.920 --> 00:31:56.599
<v Speaker 4>luck to you. We as a government, our responsibility is

661
00:31:56.720 --> 00:31:59.880
<v Speaker 4>very simple. Get out of people's personal lives, but protect

662
00:32:00.079 --> 00:32:03.519
<v Speaker 4>but provide them the essential services that an individual can't build,

663
00:32:03.599 --> 00:32:07.960
<v Speaker 4>like tunnels, ports, power stations. So my reserve would be

664
00:32:07.960 --> 00:32:10.839
<v Speaker 4>an infrastructure reserve, a little bit like a wealth fund,

665
00:32:10.839 --> 00:32:14.279
<v Speaker 4>but a wealth fund that delivers essential services. So we've

666
00:32:14.279 --> 00:32:16.400
<v Speaker 4>got to own the ports, to power stations and those

667
00:32:16.400 --> 00:32:19.640
<v Speaker 4>things where there's very inelastic choice. So you know, there's

668
00:32:19.640 --> 00:32:21.559
<v Speaker 4>only one road between well, there's actually a couple of

669
00:32:21.599 --> 00:32:22.759
<v Speaker 4>roads between Brisbane and Sydney.

670
00:32:22.759 --> 00:32:23.400
<v Speaker 1>You could take the new.

671
00:32:23.400 --> 00:32:26.240
<v Speaker 4>All Lord of the New England, but ultimately you have

672
00:32:26.359 --> 00:32:28.519
<v Speaker 4>limited choice in the roads. And even if you wanted

673
00:32:28.559 --> 00:32:31.400
<v Speaker 4>to build a road, you can't just build a road

674
00:32:31.440 --> 00:32:33.640
<v Speaker 4>through everyone's private property between here and Sydney.

675
00:32:33.640 --> 00:32:35.279
<v Speaker 1>For example, I'm in Brisbane if you listeners.

676
00:32:35.599 --> 00:32:37.759
<v Speaker 4>So that's why we need to government is to provide

677
00:32:37.880 --> 00:32:41.920
<v Speaker 4>essentral services. Is that deliver those services as efficiently as

678
00:32:41.920 --> 00:32:44.200
<v Speaker 4>possible and do it in a manner that is going

679
00:32:44.240 --> 00:32:48.079
<v Speaker 4>to stimulate production in the country but without destroying competition.

680
00:32:48.240 --> 00:32:52.000
<v Speaker 4>So that's why I'm happy to back in monopolistic infrastructure

681
00:32:52.000 --> 00:32:55.319
<v Speaker 4>where there's a lack of elasticity of choice whereby. And

682
00:32:55.359 --> 00:32:58.640
<v Speaker 4>not only that, if you privatize infrastructure you then get

683
00:32:58.640 --> 00:33:02.240
<v Speaker 4>obviously agency cost because those people that are running those

684
00:33:02.240 --> 00:33:04.480
<v Speaker 4>big power stations or ports or whatever aren't going to

685
00:33:04.519 --> 00:33:07.519
<v Speaker 4>better if a power station, if your energy prices go up,

686
00:33:07.599 --> 00:33:09.279
<v Speaker 4>No one's going to go and protest out in front

687
00:33:09.319 --> 00:33:12.000
<v Speaker 4>of Macquarie Bank. They're going to protest in the front

688
00:33:12.039 --> 00:33:15.480
<v Speaker 4>of government. So our role is to provide essential services

689
00:33:15.680 --> 00:33:18.240
<v Speaker 4>pretty much full stop. I mean obviously includes the fans

690
00:33:18.279 --> 00:33:20.720
<v Speaker 4>of course, but in terms of the way the private

691
00:33:20.759 --> 00:33:24.359
<v Speaker 4>market works, and I see bitcoin as a private market facility,

692
00:33:24.880 --> 00:33:27.400
<v Speaker 4>then it's up to you guys to make it what

693
00:33:27.480 --> 00:33:29.599
<v Speaker 4>you will. And if you want to adopt a set

694
00:33:29.599 --> 00:33:33.200
<v Speaker 4>of rules or whatever within that market, that's fine. But

695
00:33:33.319 --> 00:33:34.960
<v Speaker 4>that's when we like So I don't think government should,

696
00:33:34.960 --> 00:33:40.720
<v Speaker 4>for example, become fruit wholesalers dealing fruit, become butchers or

697
00:33:40.759 --> 00:33:43.759
<v Speaker 4>sell fruit, or engage you have become bricklayers or anything

698
00:33:43.799 --> 00:33:47.559
<v Speaker 4>like that. It's purely those big monopolistic, inelastic competition type

699
00:33:47.599 --> 00:33:51.119
<v Speaker 4>assets and generate profits from that to provide hospitals and schools.

700
00:33:51.359 --> 00:33:53.920
<v Speaker 3>Don't we have gold though? Doesn't Australia have preserves of gold?

701
00:33:55.079 --> 00:33:55.279
<v Speaker 1>Yeah?

702
00:33:55.319 --> 00:33:59.440
<v Speaker 4>We do, yeah, and that is basically to back our

703
00:33:59.480 --> 00:34:04.079
<v Speaker 4>currency if, for example, the current the whole point of gold.

704
00:34:04.519 --> 00:34:07.920
<v Speaker 4>The reason why the RBA holds gold, central banks hold

705
00:34:07.920 --> 00:34:11.679
<v Speaker 4>gold is if there's the doll if the paper market collapses,

706
00:34:12.159 --> 00:34:15.079
<v Speaker 4>and that is that is because gold will be accepted

707
00:34:15.960 --> 00:34:22.000
<v Speaker 4>by any other country if if and so technically we

708
00:34:22.079 --> 00:34:24.960
<v Speaker 4>don't technically need to hold gold, but by holding gold

709
00:34:25.000 --> 00:34:28.480
<v Speaker 4>it gives our paper some value because gold will be

710
00:34:28.559 --> 00:34:32.480
<v Speaker 4>internationally recognized. And even if the if the our paper collapses.

711
00:34:32.840 --> 00:34:35.199
<v Speaker 4>That's the point of gold. It's a store of wealth.

712
00:34:35.239 --> 00:34:38.199
<v Speaker 4>It's not a it's not a transaction item where you know.

713
00:34:38.239 --> 00:34:40.400
<v Speaker 4>I mean people can use it and it will be

714
00:34:40.440 --> 00:34:42.320
<v Speaker 4>if we collapse as a country, you'll be using it

715
00:34:42.360 --> 00:34:45.280
<v Speaker 4>to transact in goods, goods and services because no one

716
00:34:45.280 --> 00:34:48.039
<v Speaker 4>will recognizes training dollary to sort of suddenly not be

717
00:34:48.159 --> 00:34:49.039
<v Speaker 4>Australia anymore.

718
00:34:49.440 --> 00:34:50.440
<v Speaker 1>Yeah, but gold is physical.

719
00:34:50.440 --> 00:34:52.480
<v Speaker 4>I mean, good luck trying to trade bitcoin with Indians

720
00:34:52.480 --> 00:34:55.079
<v Speaker 4>and the Chinese. You know, they'll want something physical to

721
00:34:55.119 --> 00:34:55.599
<v Speaker 4>back up.

722
00:34:55.840 --> 00:34:56.000
<v Speaker 2>You know.

723
00:34:56.079 --> 00:34:58.559
<v Speaker 4>That's but as I said, like you guys, you know,

724
00:34:58.840 --> 00:35:01.599
<v Speaker 4>the big cooiners are welcome to pursue this and see

725
00:35:01.719 --> 00:35:03.239
<v Speaker 4>how they get, and good luck to them.

726
00:35:03.599 --> 00:35:05.679
<v Speaker 3>Well, of course there's a lot of hype and a

727
00:35:05.679 --> 00:35:08.679
<v Speaker 3>lot of excitement around this digital gold. Most certainly it's

728
00:35:08.800 --> 00:35:11.199
<v Speaker 3>something that changed my life. We can see huge strategic

729
00:35:11.280 --> 00:35:13.559
<v Speaker 3>moves around the world, and there's a lot of buying

730
00:35:13.599 --> 00:35:15.639
<v Speaker 3>from a lot of different players around the world. But

731
00:35:15.679 --> 00:35:17.400
<v Speaker 3>of course there's a lot of education around this is

732
00:35:17.480 --> 00:35:18.079
<v Speaker 3>a measurement.

733
00:35:18.159 --> 00:35:21.360
<v Speaker 4>And yeah, now I should point out if bitcoin becomes

734
00:35:21.400 --> 00:35:25.800
<v Speaker 4>backed by gold, so it has a physical asset behind it,

735
00:35:26.239 --> 00:35:28.840
<v Speaker 4>that will become a different ballgame. So if you've got

736
00:35:29.119 --> 00:35:32.400
<v Speaker 4>bitcoin back by one bit coin's worth an ounce of gold,

737
00:35:33.320 --> 00:35:36.199
<v Speaker 4>then you will be then you will have something tangible

738
00:35:36.639 --> 00:35:39.519
<v Speaker 4>to fall back on then, because you've got to know,

739
00:35:39.800 --> 00:35:42.599
<v Speaker 4>so then you'll actually have something. So that's a different thing.

740
00:35:42.840 --> 00:35:45.440
<v Speaker 4>And it's a bit like paper money, where you've got

741
00:35:45.480 --> 00:35:48.800
<v Speaker 4>a bond secured by infrastructure asset. Right, you've got security

742
00:35:48.800 --> 00:35:52.679
<v Speaker 4>against the paper asset, right, similar for bitcoin until such

743
00:35:52.760 --> 00:35:56.239
<v Speaker 4>time as it's got security against the hard asset, it's

744
00:35:56.280 --> 00:35:58.679
<v Speaker 4>still only electronic asset in this case.

745
00:35:58.840 --> 00:35:59.079
<v Speaker 1>Right.

746
00:35:59.599 --> 00:36:03.599
<v Speaker 4>Ultimately, I'm an account and I believe in substance over form.

747
00:36:03.880 --> 00:36:06.920
<v Speaker 4>So you know, if the entire world went to hell

748
00:36:07.000 --> 00:36:09.760
<v Speaker 4>and a hand basket tomorrow, if I had land and

749
00:36:09.800 --> 00:36:12.559
<v Speaker 4>a shovel, and you know, a couple of animals and

750
00:36:12.639 --> 00:36:14.679
<v Speaker 4>could milk my own cows and add some chickens, and

751
00:36:15.239 --> 00:36:18.800
<v Speaker 4>I wouldn't need currency at all. Right, So ultimately, if

752
00:36:18.840 --> 00:36:20.079
<v Speaker 4>you're going to get if it's all going to go

753
00:36:20.159 --> 00:36:21.880
<v Speaker 4>to hell and a hand basket and we're going to

754
00:36:21.880 --> 00:36:24.280
<v Speaker 4>go back to sort of subsistent living, and you know,

755
00:36:24.440 --> 00:36:28.199
<v Speaker 4>it's sort of some sort of crazy sorry, you know,

756
00:36:28.400 --> 00:36:31.639
<v Speaker 4>Lord of the Fly scenario, you want your own self

757
00:36:31.679 --> 00:36:32.480
<v Speaker 4>reliant skills.

758
00:36:32.480 --> 00:36:32.920
<v Speaker 1>You know what I mean.

759
00:36:32.960 --> 00:36:35.719
<v Speaker 4>You want to know how to bloody you know, plant

760
00:36:35.760 --> 00:36:38.360
<v Speaker 4>crops and butcher a cow and all that stuff to

761
00:36:38.360 --> 00:36:39.920
<v Speaker 4>feeds yourself, you know what I mean. And that's what

762
00:36:39.960 --> 00:36:41.400
<v Speaker 4>we need to be as a country as well. You know,

763
00:36:41.440 --> 00:36:45.400
<v Speaker 4>we need we need electrical engineers, mechanical engineers, civil engineers.

764
00:36:45.400 --> 00:36:47.639
<v Speaker 4>We don't necessarily need any more financial engineers. And I

765
00:36:47.719 --> 00:36:50.679
<v Speaker 4>am a financial engineer, but I've always been very I've

766
00:36:50.679 --> 00:36:55.039
<v Speaker 4>always been very cognizant of the fact that if the

767
00:36:55.039 --> 00:36:57.320
<v Speaker 4>world did go to hell and a hand basket, I

768
00:36:57.360 --> 00:36:59.559
<v Speaker 4>often think to myself, what skills do I have? It

769
00:36:59.559 --> 00:37:03.239
<v Speaker 4>all went outside of pushing your panic shock like paper,

770
00:37:03.360 --> 00:37:04.960
<v Speaker 4>So that's what I mean. Like, ultimately the end of

771
00:37:05.000 --> 00:37:06.840
<v Speaker 4>the day, you know, there's a lot to be said

772
00:37:06.880 --> 00:37:08.639
<v Speaker 4>for having something real world skills.

773
00:37:09.360 --> 00:37:11.239
<v Speaker 3>I'm very grateful for your time, and I asked you

774
00:37:11.320 --> 00:37:13.480
<v Speaker 3>for thirty minutes. You've given me more than forty. If

775
00:37:13.480 --> 00:37:15.679
<v Speaker 3>people want to learn more from you, where can they.

776
00:37:15.599 --> 00:37:19.679
<v Speaker 4>Go ww dot People First Party dot AU. If anyone's

777
00:37:19.679 --> 00:37:22.559
<v Speaker 4>in Queensland and you want to help hand out how

778
00:37:22.599 --> 00:37:25.360
<v Speaker 4>to vote cards at the upcoming election, please contact us

779
00:37:25.360 --> 00:37:28.000
<v Speaker 4>at contact at people first party dot au.

780
00:37:28.119 --> 00:37:29.239
<v Speaker 1>We'd really love your support.

781
00:37:29.480 --> 00:37:31.760
<v Speaker 3>Thank you, Senator Rennick, Thank you for joining me.

782
00:37:31.920 --> 00:38:02.320
<v Speaker 4>Thanks Adam, thanks for having me on. The show has

783
00:38:02.440 --> 00:38:08.159
<v Speaker 4>been produced by Depictions Media. Please contact us at depictions

784
00:38:08.400 --> 00:38:10.280
<v Speaker 4>dot media for more information
