|
Message 4731
|
|
< Previous | Next >
|
|
|
| Subject: | [socialcredit] Shameful Economic Acts and Treason Against The Filipino People By Eric V. Encina | | Date: | Wednesday, May 2, 2007 04:25:25 (-0700) | | From: | Eric Encina <ericencina @.....com>
|
THE PHILIPPINE BUDGET OF 2007 ANOTHER
SHAMEFUL ECONOMIC ACTS AND TREASON AGAINST THE FILIPINO PEOPLE!
By Eric V. Encina
The Philippine 2007 Budget is P1.262 TRILLION and out of this is
automatic Presidential Decree appropriation of P765 BILLION
for debt payments and interest mostly odious-based debts for this year. That's
why expectedly, there is another vicious cycle of debt, deficit, inflations and
devaluations endlessly and torturously. Throughout this year, the
Philippine Government is again issuing US$1 Billion global bonds, going back to
its international financial markets, of debt papers to finance BUDGET DEFICITS in
2007, now being handled by 4 POWERFUL FINANCIAL INSTITUTIONS: Credit
Suisse, UBS, Citibank and Deutsche
Banks----the favorite handlers of the Philippine Government borrowing policies.
Just recently, German Deutsche Bank handled ther US$500 Million 10-year
global bond issue borrowing of the PHILIPPINE NATIONAL POWER CORPORATION- the
power operating agency in the Philippines, at 6.875% per annum. That's why ELECTRIC RATE is
now exorbitant in the Philippines with SO MANY CHARGES AND 12% EXPANDED
VALUE ADDED TAX on top of the original bill of consumption--that indeed squeezed
the Filipino populations to the bone. These international banks
along with IMF and WB have toally taken captives the Philippines,
government agencies and the most of the institutions particularly the banks
mostly privately owned or partly owned by the government. The 2007
Budget Deficit is expected to be P74 Billion, accordingly, lower than the revised
P80 to P90 Billion forecast. The Budget Deficit for 2006 was around P125
Billion. I ALWAYS REPEAT AND TELL THE FELLOW FILIPINOS IN THE COUNTRYSIDE
THAT BUDGET DEFICIT IS THE PAINFUL AND
EVEN CRUEL CONSEQUENCE OF INTEREST PAYMENTS TO INTERNATIONAL AND FOREIGN BANKS
FOR THE PAYMENT OF MOSTLY ODIOUS DEBTS, FINANCIAL CORRUPTIONS OR MISUSE OR WASTE
OF MONEY IN THE GOVERNMENT. Increasing taxes or imposition of another
tax measures cannot solve the perennial problems of budget or fiscal deficits
under the present and mostly calamitous debt-based money system. THE PHILIPPINES IS BEING RUN BY THE GROUPS OF TERRIBLE AND MERCILESS
ECONOMIC HITMEN AND SYNDICATES BENT
ON PROTECTING, ENRICHING THEMSELVES IN ALL FRONTS BY PLACING KEY PEOPLES,
AGENTS, SPIES IN DOING MANIPULATIONS AND CONTROL IN THE GOVERNMENT POSITIONS TO
ENSURE THEIR RACKETEERING FINANCIAL-ECONOMIC SYSTEM. Along with the
economic hitmen of the US, WB and IMF, et al, China is also playing a big
role. The Philippine Government is negotiating to get this month, this year,
US$1.2 Billion CONCESSIONAL LOANS from China during the visit of Chinese Prime Minister during the set
Asean Summit in Cebu, Philippines. THE PURPOSE OF THIS INTEREST-BEARING
LOAN IS TO FINANCE THE CONSTRUCTION OF THE NORTHRAIL PROJECT WHICH IS UNDER THE
PROJECT IMPLEMENTATION AND OPERATION OF THE CHINESE-OWNED GOVERNMENT FIRM: China National Machinery and Equipment Group (CN-MEG).
Reportedly, the Chinese Government through the China Export-Import Bank has
already loaned at interest of US$400 Million to the project to the Philippine
Government but to be paid by taxes by the Filipinos. Such loans are
to finance the expensive bridges construction from Malolos province to Pampanga
province, Philippines, and reportedly additional loans
will be provided by the China National Technical Import and Export
Corporation. Hence, additional loans will be used to finance Calamba, Laguna province to Quezon Province down to
Sorsogon Province, Philippines. THE RESULT: MORE TAXES TO BE
IMPOSED TO PAY THESE DAMNED DEBTS. That's why the painful consequence
of 12% Expanded Value Added Tax is expectedly going to increase to 13% to 15%
within the next 5 years time because of the inflows of interest bearing
debt at interest. MORE TAXES WILL BE COLLECTED AND IMPOSED. Lending
money at interest by the Chinese Government to Philippine Government for the
construction of bridges and yet to be managed and implemented by the CHINESE
CORPORATIONS is so preposterous, paradoxical and silly, while the Philippine
government will collect taxes to pay debt and interest to Chinese government! Our
mind is repelled! We are living in the most craziest financial
system. Debt free money can be issued, created and printed by economic and
political will to finance the development of the Philippine countryside without
foreign, international banking loans that make our country in the most dungeon of
debts in the endless cycles of debt, taxes, deficits, inflations and frequent
devaluations of our Philippine Peso currency with the domino effects of POVERTY,
BANKRUPTCIES OF
SMALL BUSINESS STRUGGLING FILIPINOS, HUNGER OF FAMILIES AND CHILDREN,
DEPRIVATIONS, UNEMPLOYMENT, HOMELESSNESS AND WANTON MISERIES OF TRHE FILIPINOS IN
THE COUNTRYSIDE---which I see in most Philippine provinces.
References of loans: Philippine Star, Friday, January 5, 2007
Manila Bulletin, Sunday, January 7,
2007. PHILIPPINE PROVINCES RAVAGED BY DEBT CALAMITY WORST
THAN NATURAL CALAMITIES: To all those Philippine provinces and local
Filipinos where I did Socred Monetary Reform mission, most of the complains, are
almost the same and very common: the painful problems of debt, poverty --
manifested in the lack or absence of money, unemployment, lack or absence of
opportunities, the problems of hunger, diseases of the poor families, housing,
the loss value of money, the rising prices of prime commodities and the basic
needs and services, the increase of gasoline and oil, etc. and usually aggravated
by endless political crisis. My companions at the seabot complains the problems
of unemployment that they desire to go overseas to find works and survival.
Most sea or air travels now are with additional taxes in addition to 12%
Expanded Value Added Tax. Most passengers are very angry and complaining because
their money is stretched out to the limit. That Philippine
countryside is controlled by debt finance and there is no hope under the system.
IT IS PROVEN THAT IMF AND WB act as handmaiden of the US and
the Western interest at the terrible expenses of the the Philippine populations
and of the Asian poor nations. THE PRESENT ECONOMIC SYSTEM PROMOTES
UNEQUAL RELATIONS BETWEEN THE DEMANDING AND POWERFUL RICH AND THE POOR WHO ARE
OFTEN TOO WEAK, VULNERABLE, VOICELESS PEOPLES, SOCIETIES AND NATIONS.
IMF is used by rich nation-members as the powerful
banking tool and vehicle for control for dominance and thus third world
economies are suffering the most while the Western countries are less in
sufferings, and that seem to profit most in the process through the use of
economic, military and political foreign policies of intimidation and monopoly,
with the US$400 Billion being siphoned off from the third world nations annually
as interest payments excluding other illegal and immoral transfers of money
through multinational corporations in collusion with internationa banks.
The IMF and the WB present themselves as DOCTORS with the cure while third
world nations as the PATIENTS in the crisis. But the we became third world
nations suffering the maladies of economic and financial diseases because in the
first place, economic maladies through debts were created by the debt finance.
The prescribed cures of the IMF and WB are not working, and in fact getting
the patients worse off, in fact in the unnamed horrors of debt and poverty.
'IF THE BANKS ONLY SEEK THEIR OWN BENEFIT, THEY CEASE TO BE INSTRUMENTS
OF DEVELOPMENT AND BECOME BRAKES UPON SOCIETY." - Pope John Paul II.
The only hope is Social Credit Monetary Reform which can bring back the
foundation that sustains the present and provides a security for all and the
springboard for the future of humanity without the bondage of debt and poverty.
WHAT IS NEEDED RIGHT NOW IS A RADICAL
CHANGE OF THE SYSTEM, BEFORE THE MAJOR SHOCK HITS US TO DEATH! WE
NEED FINANCIAL SECURITY IN THE FORM OF DIVIDEND OR SUPPLEMENTARY BASIC INCOME as
Paul Bathurs wrote "IF I COULD CHANGE THE WORLD, THE FIRST THING I WOULD DO IS TO
MAKE SURE THAT EVERYBODY HAD ENOUGH INCOME TO MEET THEIR BASIC NEEDS."
I welcome any comments, suggestions, correction and further assistance
to keep going and pressing in the mission for Social Credit Monetary Reform in
the Philippine provinces while we are doing projects and finding ways for
survival in the region. Eric V. Encina Filipino Social
Crediter/Monetary Reformer Filipino Alternative Solutions For Sustainable
Survival
Movement c/o Lito Alhambra Old House, Homesite, Km.2, Brgy. Lawa-an,
PO Box 8, 5800 Roxas City, Capiz, Philippines
Ahhh...imagining that irresistible "new car" smell?
Check out
new cars at Yahoo! Autos.
|
Shameful Economic 
Reply to this message