.
Using Project Legislation by
the Parliament to create money.
Can be used in most countries.

.
Part 1; What is Economics?
You see, people do not understand economics. That is part of the problem.
They think of economics in terms of accounting.
Now, an accountant is someone who knows nothing about economics, otherwise, he could not be
an accountant. An accountant is talking with figures and so forth, which correspond to something called money. And, money is not a measure of value.
.
If you do not believe it, you should see the prices today. And see what you get with them.
You should see what is happening on the international market today. Money is fake today.
And you have people talking about the economy is growing.
.
Yes, the amount of money is growing, but the economy is collapsing!
And, as long as people try to explain political issues, and substantive issues,
in terms of accounting they do not know what they are talking about.
And any suggestions they make are likely to be incompetent, or worse, actually damaging.
.
The Creative Powers of man arising from the Family.
Economics is physical. But, it is physical in a special way. So, therefore, the issue is the creative powers of man. Creative powers which are denied by those who rest solely on experience without regular education. Denied by every positivist. Despised by every exponent of information theory.
Denied by every exponent of synthetic intelligence. Popular things these days.
.
People who believe in information theory or synthetic intelligence are incompetents.
They are dangerously incompetent … The problem here, of economics ... it is not paper!
It is not accounting. It is physical. It is not just physical objects.
.
The foundation of economics is the Family, births, farmers and manufacturers; that is economics.
And, it is by production, not by software. It is not by information theory. Its not by services economy.
It is by actually changing things. It is creating an environment which is suitable to the Family.
.
But it is, scientific discovery and inventions.  20 year re-cycling of all vehicles and white goods. 
Supporting Australian Farmers and Manufacture in Australia. The power systems. The water systems.
These are the qualities of the Family. That is economy. That is physical economy.
The increase and protection, of the Family in and with nature, to meet the requirements of the Family.
And, as an instrument in nature, to support the Family.
.
Economics is investing in the Family, supported by income from the Project Legislation.
Parliament shall invest in the Family and as the population increases money in the hands of the Families will increase spending, where births are a better way to increase demand, creating more jobs that will provide profits and reduced costs of all businesses, manufactureing, banks, farmers and Living Souls. 
.
It is the Family that constitutes the basis of Project Legislation. Why then cannot the people, supported by debt free income created by the Project Legislation, have the benefit of their own production, services, selling and buying, investing in financial markets and shopping at super-markets.
.
People are moving from the teachings of God and the Ten Commandments. A number of people have adopted gay and lesbian, same sex marriage and multiculturalism and a number of these people are in Parliament, the defence forces and the police. Reducing quality of the Family and number of births.
.
Like most western countries where traditional families are struggling, government indifference to the plight of families with children, changing employment needs, and feminist ideologies have produced a situation since 1970 where Australia is no longer increasing or even replacing it's population by births.  .
Instead of urging Parliaments to boost consumer demand by encouraging women who want to have children to have them, Australian businesses tend to press for more immigration to provide cheap unskilled labour for industry and to increase demand for goods and services. One of the major problems with this kind of immigration is that it increases the pool of labour in a situation where unemployment is already high. Able bodied immigrants need jobs, and unless they set up businesses and employ Australians, they are likely to take jobs from Australians.
.
Births are a much better way to increase demand for goods and services. They reduce unemployment because births do not immediately increase the supply of labour.
.
Young men wanting to marry the woman of their choice to buy a house and have children would not proceed because they would not have the financial capacity to have a family and buy the house.
.
The massive reduction in births during and since the 1970s has had an equally massive impact on employment. There are at least one million less children who would have needed food, clothing, footwear, beds, toys, sporting goods, additional bedrooms, teachers and classrooms. If previous birth patterns had continued, and those children had been born, an enormous number of additional jobs would of have been required to service their needs including hospitals, doctors, nurses, farmers, manufacturers and at least 30,000 teaching jobs between primary and tertiary levels.
.
In 1989 a major survey of Australian women was conducted. Of younger women with pre-school children in the survey, 62 per cent wanted to care for their children at home until they reached school age. Members of Parliament and social engineers, have not listened when women ask for genuine choices.
.
Recognizing the need to address the serious problems inherent in a rapidly ageing population, the Members of Parliament should attack the problems of unemployment, an ageing population and a shrinking taxation base. The Project Legislation, would supply the finance to the many Australian Families who want to have children and to replace the shrinking taxation base.
.
It is the Family that constitutes the basis of Project Legislation. Why then cannot the people, supported by debt free income created by the Project Legislation, have the benefit of their own production, services, selling and buying, investing in financial markets and shopping at super-markets.
****
The Family shall include;
Family, births, farmers, manufacture.
.
Project Legislation to service the Family shall include;
Roads, rail, water, gas, electricity.
Hospital, schools, universities.
or the mainenance on one or more of the Project/s.
.
Shall be no reporting to a tax office or Centerlink regarding income or pensions and no; 
taxation, loans, mortgage, interest payments, council rates, tolls on roads, parking fees.

****
Part 2; EXISTING ACTIVITIES OF THE RESERVE BANK OF AUSTRALIA.
Reserve Bank is an active participant in financial markets, manages Australia's foreign reserves,
issues Australian currency notes and serves as banker to the Commonwealth Government.
.
Royal Australian Mint sells the coins to the Reserve Bank and the RBA completed the introduction of new cash distribution arrangements. This involved the purchase by commercial banks of working stocks of notes and coin, which previously had been owned by the RBA, but held in note and coin pools operated by armoured car companies. Because commercial banks must purchase stocks of currency for full value, the result of this change in arrangements is that the RBA’s balance sheet and profits are higher, when banks purchase currency the RBA invests the resulting funds in interest bearing assets.  Note; This will cease as from the introduction of Project Legislation.
.
Government Banking; The banking services provided to the Commonwealth Government by RBA comprise two components. A core banking facility is provided to the Department of Finance and Administration (DoFA), which is non contestable in terms of the Commonwealth Governments competition policy. This facility is made up of a group of bank accounts, including Official Public Account (OPA), a term deposit facility for the investment of temporarily surplus Commonwealth funds and a strictly limited overdraft facility.
.
Under the core banking arrangements, payments are made from the OPA to agencies and end of day agency balances held with transactional bankers are swept back to the OPA overnight. These balances are returned to transactional bankers at the start of the next business day. The services also embrace electronic collection of forecasting data and reporting on high value transactions from agencies and transactional bankers to assist the RBA in the discharge of its monetary policy and liquidity management responsibilities. The RBA administers a term deposit facility, on behalf of DoFA, through which agencies can deposit temporarily surplus departmental funds.
.
The other component of the RBA’s banking business is the provision of contestable transactional banking services to government customers. Since 1991, the RBA has distributed government payments  direct to accounts at financial institutions through its Government Direct Entry System (GDES). Government payments are; Centrelink, Department of Veterans Affairs, Financial Management and Accountability Act 1997 (FMA) agencies via Bureau, Australian Taxation Office, Department of Defence.
.
Registry Services;  During the year, RBA provided registry services to the Commonwealth Government, South Australian Government Financing Authority (SAFA) and certain highly rated supranational organizations, these are acquired under repurchase agreements and a number of other official domestic and foreign institutions. The core functions of this service cover the issue, transfer and registration of securities, the maintenance of ownership records, the distribution of interest payments and the redemption of securities at maturity.
Shall change to Reserve Bank Bonds Part 4
.
.
Settlement and Registry Services;  Reserve Bank Information and Transfer System (RITS) is used by banks and other approved institutions to settle inter bank payments, mostly on a Real Time Gross Settlement (RTGS) basis. This will remain. RITS also provides a facility for electronic tendering for Commonwealth Government securities (CGS). In February 2002, in the interests of clearing system efficiency, members transferred all CGS to the Austraclear system operated by Sydney Futures exchange (SFE) Corporation Limited.
Shall change to Reserve Bank Bonds Part 4.
.
The primary objective of domestic market operations is to implement monetary policy, the stance of which is expressed in terms of a target for the cash rate, the interest rate on funds borrowed and lent overnight by financial institutions. The aim of domestic market operations is to supply sufficient liquid funds "Exchange Settlement (ES) funds"  to the banking system to maintain the cash rate around the desired level. Note; This will cease as from the introduction of Project Legislation.
.
Final settlement of payments system obligations occurs through transactions on accounts at the RBA. These accounts are called Exchange Settlement accounts (ES accounts). ES accounts must be maintained in credit at all times, and the RBA pays interest on overnight balances in these accounts. Banks access their ES accounts through RITS and demand for ES funds by banks fluctuates from day to day, mainly in response to anticipated settlement obligations. This will remain.
.
The Reserve Bank manages the amount of ES funds available to banks by buying securities to increase (or selling securities to reduce) the supply of such funds. The bulk of the Reserve Banks operations to implement policy are in repurchase agreements, or repos. While outright purchases or sales of securities for liquidity management are most efficiently conducted in stock of less than a year to maturity, repos have the advantage of allowing the full spectrum of government securities to be tapped, since stock of any maturity can be used as collateral for repos. Note; This will cease
.
Why RTGS?
The reduction of settlement risk in domestic high value payments systems has been a principal objective of many central banks over the past decade. This risk arises when payment instructions are sent and acted upon by banks and their customers, but settlement of the resulting net obligations occurs some time later. In Australia's deferred net settlement system, final settlement of inter bank obligations was not completed until 9.00 am the day following the sending of payment instructions.
.
In the interim, a bank could find itself unable to meet its settlement obligations. Because of the very large values and the multitude of individual transactions involved, the result could have been a serious disruption to payment flows, leaving other banks facing liquidity pressures and even insolvency. The Reserve Bank could provide emergency liquidity to try to stem this type of systemic risk, but in doing so could take on large exposures to payments system participants.
.
The RTGS system addresses this problem at source by preventing the build up of unsettled obligations. It is based on the simple premise that if a bank does not have sufficient funds in its ES account, any payment it wants to make will have to be queued until there are funds available. Since payments are not made unless they can be settled, settlement risk is eliminated. If a bank were to fail during the course of the day, there would be no need to unwind a chain of payments or put the Reserve Bank balance sheet at risk.
.
Deferred net settlement
During day
1. Payer instructs bank to make payment 
2. Banks exchange payment instructions 
3. Beneficiary's bank credits account
    of beneficiary 
4. Beneficiary may withdraw funds and make
    further payments 
.
Overnight
5. Banks calculate net obligations and notify RBA 

Next day
6. RBA posts debits and credits to banks’
    ES accounts.
.
Note old system;
Previous days payments would be
thrown into doubt if a bank were
unable to settle its net obligations.
Real-time gross settlement
During day
1. Payer instructs bank to make payment 
2. Payments sent to RBA’s RTGS queue 
3. Payments for which ES funds not available
    remain in queue 
4. If ES funds available, payer's bank has its
    ES account debited and beneficiary's bank
    has its ES account credited 
5. Beneficiary's bank notified of payment 
6. Beneficiary's bank credits account of
    beneficiary 
7. Beneficiary may withdraw funds and make
    further payments 
.
Note RTGS system;
Each payment is final as it is made
and not at risk if payers bank
subsequently fails.
Used by People's Mandate No Tax System.
.
.
RTGS and Other Settlement Services;  About 90 per cent of the value of inter bank payments is
settled on an RTGS basis; this includes all wholesale debt and money market settlements, Australian dollar foreign exchange settlements and a range of time critical customer payments.
In addition to RTGS payments, RITS settles two batches of netted payments into banks each day. The 9.00 am batch consists of positions collated by the RBA on behalf of the Australian Payments Clearing Association arising from the previous days, low value clearings (paper, as well as bulk and retail electronic).
.
The second batch settles net positions for equity transactions in CHESS, the electronic settlement system operated by the Australian Stock Exchange.
.
The Sydney Futures Exchange Clearing House acts as a central counter party to its members' trades and will operate its Exchange Settlement (ES) Account exclusively on a real time gross settlement (RTGS) basis. Settlement services are also provided for the RBA’s own transactions in the domestic securities and foreign exchange markets, as well as those arising from the Commonwealth Government and other official customers.  See Debt Issuance Peoples Mandate Futures Market.
.
All shall be abolished.
************START************
The RBA has adapted to these developments by broadening the range of collateral it is prepared to accept in its domestic repo operations. This started with the decision in 1997 to accept
Australian dollar domestic securities issued by State and Territory borrowing authorities.
This increased the pool of securities available for repo by over 40 per cent at the time. Declines in CGS on issue since then mean that, in June 2002, the repo collateral pool was effectively double what it would have been if the RBA had not made this change.
Market participants adjusted quickly to the new arrangements, and between 50 and 60 per cent of the domestic collateral held by the RBA on repo is now typically State government debt.
.
These developments contributed to the decision by the Australian Office of Financial Management (AOFM) to alter the arrangements for the issuance of Treasury notes. Traditionally an instrument used by the Government for within year cash management Treasury notes have become less important for this purpose in recent years as the AOFM has been able to use its term deposits at the RBA, on which it receives market rates of interest, to manage within year fluctuations in its cash position.  In May 2002 the AOFM announced that it would in future issue Treasury notes only when needed, rather than maintain a regular issuance schedule.
.
Other Domestic Operations;   In recent years, the RBA has been active in the government bond
market in its capacity as fiscal agent for the Commonwealth.
These operations, which have been carried out under instruction from the AOFM, have largely
involved the retirement of outstanding debt through direct repurchases.
.
In 2001/02, the RBA undertook no transactions of this type and, in future, the AOFM will undertake
direct repurchases in its own name. Over the year, the AOFM pursued a consolidation program
through the use of conversion tenders rather than direct repurchases.
.
What is a repurchase agreement?
A repurchase agreement involves the purchase (or sale) of securities in exchange for cash, with an agreement to reverse the transaction at an agreed price on a future date. They have some similarities with foreign currency swaps, which involve the exchange of foreign exchange (US dollars) for cash and which are also used when necessary to manage domestic liquidity.
.
The other main area of domestic operations is securities lending. The RBA maintains a securities
lending facility through which it lends from its outright holdings of CGS on an issue by issue basis.
.
The RBA undertakes this activity to assist market participants to cover temporary shortages of
particular issues of Treasury bonds. However, the RBA prices its stock lending so as to be a less
attractive lender in the market to avoid the risk of displacing private activity.
All shall be abolished.
**********END***********
Notes on Issue
The value of Australian notes on issue rose by $243 million, or 0.8 per cent, over 2002/03 to $32.2 billion. The increase is significantly lower than the 2001/02 increase of $4.8 billion, or 17.5 per cent which, in large part, reflected the changed ownership arrangements for the cash distribution working stocks. Under the new cash distribution arrangements, the working stocks are recorded as “on issue” where as previously they were not.
.
The Banks note issue activities embrace the storage and issue of new and reissuable notes; the processing of notes returned from circulation for quality control purposes; and research into and development of note designs and security features.
.
For practical purposes, all Australian currency notes in active circulation are now polymer.
The benefits of polymer arise from greater security and durability, and reduced machine
maintenance and processing requirements.
.
Note processing and distribution
Despite the strong growth in electronic payments media, such as REPOS and direct entry, the public's demand for currency notes has grown broadly in line with the economy over recent years. Use of $50 and $100 notes grew strongly; these two denominations now account for about 87 per cent of the value of notes on issue.
.
During the year, the Reserve Bank issued into circulation around $69 billion in currency notes and had $68 billion in notes returned for processing. Of the total notes processed, about 93 per cent were classified as fit for reissue, a percentage which has increased because of the durability and cleanliness of polymer notes.
.
In future, the Reserve Bank aims to achieve its objectives by processing notes in circulation on
average twice each year, resulting in significant cost savings.
The operational procedures in the cash services areas were streamlined, in which notes are returned to the Reserve Bank from the community and in handling and custodial arrangements within cash services areas.
.
The chart below indicates how the increase occurred in the value of notes on issue ( $ million), continuing the underlying trend towards a greater proportion of notes on issue being accounted for by the bank loans to Government, Business and People and the higher prices paid for goods and services in a Debt Based System
.
At end June
$1
$2
$5
$10
$20
$50
$100
Total
Increase
(percent)
1997
19
47
351
601
1 837
8 912
8 297
20 064
4.6
1998
19
47
361
617
1 804
9 523
9 280
21 651
7.9
1999
46
379
639
1 850
10 356
10 282
23 552
8.8
2000
46
397
646
1 917
11 188
11 240
25 434
8.0
2001
45
431
662
2 014
12 055
11 961
27 168
6.8
2002
45
530
791
2 789
14 718
13 057
31 930
17.5
2003
45
515
759
2 510
14 918
13 426
32 173
0.8
.
To explain the Reserve Bank's supply of money into the community.
(1). Treasury issues Treasury Bonds to the Reserve Bank.
.
(2). Reserve Bank registers the Treasury Bonds then places them for tender.
.
(3). the tenders are then accepted from highest yield to lowest yield.
.
(4). Treasury Bonds are then placed with Austraclear for trading on the Futures exchange.
.
(5). Treasury Bonds are then traded as 10 and 3 year Bonds.
.
(6). Government, Reserve Bank and Commercial Banks may then buy the Bonds.
      AOFM issues Interest coupons payable on Commonwealth Government Securities.
.
(7). The Reserve Bank manages the amount of ES funds available to banks by buying Bonds to
      increase the supply of such funds for business and public use.
.
The aim of domestic market operations is to supply sufficient liquid funds, Exchange Settlement (ES)
funds, to the banking system to maintain the cash rate around the desired level; the interest rate on
funds borrowed and lent overnight by Commercial Banks.
Demand for ES funds by banks fluctuates from day to day, mainly in response to anticipated
settlement obligations. This may include Loans and Mortgages to business and individuals.
.
Please Note: Number of Australian notes on issue have increased because of the banks loan facility.
In a debt based economy; the issue of Bonds and levels of borrowing and money creation by the banks, have to keep on rising and thereby adding to the overall burden of interest payments and loss of property if person defaults loan repayments, guarantees that inflation will be present as long as we have an economy based on an increasing burden of debt, causing the price of all goods and services and incomes to keep rising.
.
The Commonwealth of Australia Constitution Chapter one Section 51: does not mention Bonds or the selling of notes and coins. The Parliament shall, subject to the Constitution, have power to make laws for the peace, order, and good government of the Commonwealth with respect to subsections;
(iv.) Borrowing money on the public credit; (xii.) Currency, coinage, and legal tender;
(xiii.) Banking, the issue of paper money; and (xvi.) Bills of exchange and promissory notes.
The selling of working stocks of notes and coin to commercial banks of which previously, had been
owned by the RBA; is an alteration of the Commonwealth of Australia Constitution and will be stopped.
.
Part 3; The People's Mandate;
The Project Legislation
Parliament creates money. 
.
Project Legislation is included in the Alteration of the Commonwealth of Australia Constitution Chapter 4 Finance and Trade and shall not be altered except by Referendum Section 128.
.
The Reserve Bank shall be the possession of the Commonwealth in the Right of the Commonwealth.
This Initiative has been designed to be compatible with the Reserve Bank existing activities, including
Exports and Imports, except money created by the Project Legislation will be spent in to infrastructure and then flow through to the community and not the Financial Markets. Where money shall be made available to the Government, Business, Farmers and the Consumers; no loan or mortgage repayments or interest expense.
.
Why Real Time Gross Settlement (RTGS)?
The reduction of settlement risk in domestic high value payments systems has been a principal objective of many central banks over the past decade. This risk arises when payment instructions are sent and acted upon by banks and their customers, but settlement of the resulting net obligations occurs some time later. In Australia's deferred net settlement system, final settlement of inter bank obligations was not completed until 9.00 am the day following the sending of payment instructions.
.
In the interim, a bank could find itself unable to meet its settlement obligations. Because of the very large values and the multitude of individual transactions involved, the result could have been a serious disruption to payment flows, leaving other banks facing liquidity pressures and even insolvency. The Reserve Bank could provide emergency liquidity to try to stem this type of systemic risk, but in doing so could take on large exposures to payments system participants.
.
The RTGS system addresses this problem at source by preventing the build up of unsettled obligations. It is based on the simple premise that if a bank does not have sufficient funds in its ES account, any payment it wants to make will have to be queued until there are funds available. Since payments are not made unless they can be settled, settlement risk is eliminated. If a bank were to fail during the course of the day, there would be no need to unwind a chain of payments or put the Reserve Bank balance sheet at risk.
.
Real-time gross settlement
During day
1. Payer instructs bank to make payment 
2. Payments sent to RBA’s RTGS queue 
3. Payments for which ES funds not available
    remain in queue 
4. If ES funds available, payers bank has its ES
    account debited and beneficiary's bank has
    its ES account credited 
5. Beneficiary's bank notified of payment 
6. Beneficiary's bank credits account of
    beneficiary 
7. Beneficiary may withdraw funds and make
    further payments 
.
Note RTGS system;
Each payment is final as it is made
and not at risk if payers bank
subsequently fails.
Used by People's Mandate Project Legislation System.

RTGS and Other Settlement Services;  About 90 per cent of the value of inter bank payments is
settled on an RTGS basis; this includes money market settlements, foreign exchange settlements,
Australian dollar and a range of time critical customer payments.
.
Final settlement of payments system obligations occurs through transactions on accounts at the RBA.
These accounts are called Exchange Settlement accounts (ES accounts). ES accounts must be
maintained in credit at all times.
.
Reserve Bank Information and Transfer System (RITS) is used by banks and other approved
institutions to settle inter bank payments, mostly on a Real Time Gross Settlement (RTGS) basis.
.
Under the new arrangements, non bank institutions which provide third party payment services are
eligible for Exchange Settlement (ES) Accounts at the Reserve Bank that are the means by which
providers of payments services settle obligations among themselves and with the Reserve Bank
which they have accrued in the clearing process. The Legislation will provide the banking
system with the deposits for more liquidity. Money spent must be the same as the amount received.
.
In addition to RTGS payments, RITS settles two batches of netted payments into banks each day. The 9.00 am batch consists of positions collated by the RBA on behalf of the Australian Payments Clearing Association arising from the previous days, low value clearings (paper, as well as bulk and retail electronic).
.
The second batch settles net positions for equity transactions in CHESS, the electronic settlement
system operated by the Australian Stock Exchange.
.
The Sydney Futures Exchange Clearing House acts as a central counter party to its members' trades and will operate its Exchange Settlement (ES) Account exclusively on a real time gross settlement (RTGS) basis. Settlement services are also provided for the RBA’s own transactions in the foreign exchange markets, as well as those arising from the Commonwealth Government and other official customers.  See Debt Issuance Peoples Mandate Futures Market.
.
Treasury to be granted an Exchange Settlement (ES) Account;
The Commonwealth Treasury shall be granted an Exchange Settlement (ES) Account. This will be the
approval under the more liberal access arrangements announced by the Payments System Board.
.
Department of Finance and Administration (DoFA), shall create the direct supply of $A notes and coins as liquid funds of $A notes and coins into the Exchange Settlement Account for supply of $A notes and coins to the banking system then available free to the public.
***************
Notes on Issue
Under the new cash distribution arrangements, the working stocks are
recorded as “on issue” where as previously they were not.
.
The Banks note issue activities embrace the storage and issue of new and reissuable notes; the processing of notes returned from circulation for quality control purposes; and research into and development of note designs and security features.
.
For practical purposes, all Australian currency notes in active circulation are now polymer.
The benefits of polymer arise from greater security and durability and reduced machine
maintenance and processing requirements. .
.
How will this new notes and coins be accounted for;
The Reserve Bank of Australia (RBA) is a financial institution, the financial statements have been
prepared using AAS32 – Specific Disclosures by Financial Institutions.
Project Legislation will be converted to notes and coins -- subject to Section 51 (12).
.
Shall be accounted for and listed in the Financial Statements; Assets section as; 
"Cash" and "Liquid Assets" (Overnight settlements system) and;
Liabilities section as;  "Deposits" (Exchange Settlement Accounts for Banks) and "Notes and Coins on Issue"
.
The Commonwealth of Australia Constitution Act.
64. The Governor-General may appoint officers to administer such departments of State of
the Commonwealth as the Governor-General in Council may establish.
Department of State of the Commonwealth shall be established only by the Governor General in Council.
.
51:1. The Parliament shall subject to Sections 57 and 58 and 128, of this Constitution, that all
legislation shall have direct reference to one of the subsections of Section 51.
.
(1.) Trade and commerce with other countries, and among the several States:
(a) This country Australia, shall manage to restore foreign trade, shall not require foreign
credit and shall not be faced with an economic boycott abroad.
The Parliament shall use a barter system:
That is to say; equipment and commodities shall be exchanged directly with other countries and
among the several States, circumventing all international banks.
This system of direct exchange shall be without debt and without trade deficits.
.
Quick And Garren Notes On Constitution.
Commonwealth of Australia Constitution Act 1900 (UK)
That Parliament alone will be able to create money and regulate it's value,
as well as create paper money, and regulate it's value.
.
Section 115. A State shall not coin money, nor make anything but
gold and silver coin a legal tender in payment of debts.
.
Page 1026 Note 460, A State shall not Coin Money; 
Coinage is a prerogative of the Crown.
A State is forbidden to coin money; it can not create a metal currency;
it can not give to metal any more than to paper the quality of money.
.
The combined effect of this negation, coupled with the operation of Part Five; Powers of the
Parliament. Section 51 subsection 12. Currency, coinage, and legal tender; is that the coinage and
legitimization of metal money, and in fact the regulation of the whole of the monetary system of the
Commonwealth, is exclusively vested (authority) in the Federal Parliament, as against the States.
.
That Parliament alone will be able to create money and regulate it's value, as well as create paper money, and regulate it's value. It's laws of course will only be operative within the Commonwealth, and may, in accordance with the usual practice, be reserved for Imperial consideration, in order to maintain the uniformity of coinage laws throughout the Empire.
.
Note 461, Nor make anything but Gold and Silver Coin a legal tender;
The provision of this section, that the States may not make anything but gold and silver coin a legal tender in payment of debts, would appear, at first view, to authorize a State to make gold and silver a legal tender, in the absence of Federal legislation, and consequently to give the States a concurrent power within those limits.
.
It must be noted, however, that gold and silver can only be impressed with the quality of money by Federal legislation, gold and silver metal can not be made legal tender until it converted into coin; it can only be converted into coin by the Federal authority. unquote
.
Commonwealth of Australia Constitution Act 1900 (UK)
Commonwealth of Australia Parliament and this Project Legislation Initiative, shall be subject to Section 44 ( i.) shall not be under any acknowledgement of allegiance, obedience, or adherence to a foreign power such as the United Nations, International Monetary Fund or the World Bank or any other foreign power.
.
Section 44. Any person who--
(i. ) Is under any acknowledgement of allegiance, obedience, or adherence to a foreign power, or is a subject or a citizen or entitled to the rights or privileges of a subject or citizen of a foreign power.
.
Political Parties are under the acknowledgement of allegiance, obedience, or adherence to the
United Nations and subject to Section 44 must vacate Government and Parliament seats. 
.
Sec 51. The Parliament shall, subject to this Constitution, have power to make laws for the
      peace, order, and good government of the Commonwealth with respect to:
Subsections;
(02. ) Taxation, shall be abolished and changed to Project Legislation.
(12. ) Currency, coinage, and legal tender:
(13. ) Banking, other than State banking; also State banking extending beyond the limits of
         the State concerned, the incorporation of banks, and the issue of paper money:
(16. ) Bills of exchanging and promissory notes.
.
Consolidated Revenue Fund
Sec 81. All revenues or moneys raised or received by the Executive Government of the Commonwealth shall form one Consolidated Revenue Fund, to be appropriated for purposes of the Commonwealth in the manner and subject to the charges and liabilities imposed by this Constitution.
.
Expenditure charged thereon.
Sec 82. The costs, charges, and expenses incident to the collection, management and receipt of the Consolidated Revenue Fund shall form the first charge thereon; and the revenue of the Commonwealth shall in the first instance be applied to the payment of the expenditure of the Commonwealth.
.
Money to be approiated by law.
Sec 83. No money shall be drawn from the Treasury of the Commonwealth except under appropriation made by Legislation. But until the expiration of one month after the first meeting of the Parliament the Governor-General in Council may draw from the Treasury and expend such moneys as may be necessary for the maintenance of any department transferred to the Commonwealth and for the holding of the first elections for the Parliament.
.
Powers of the Houses in respect of legislation.
Sec 53. Proposed laws appropriating revenue or moneys, shall not originate in the Senate.
.
Appropiation Bills;
Sec 54. The proposed legislation which appropriates revenue or moneys for the ordinary annual services of the Government shall deal only with such appropriation.
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Tax bill; This will become Project Legislation
Sec 55. Laws imposing taxation, shall deal only with the imposition of taxation, and any provision therein dealing with any other matter shall be of no effect.
Laws imposing taxation, except laws imposing duties of customs or of excise, shall deal with one subject of taxation only; but laws imposing duties of customs shall deal with duties of customs only, and laws imposing duties of excise shall deal with duties of excise only.
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Recommendation of money votes;
Sec 56. A vote, resolution or proposed law, for the appropriation of revenue or moneys shall not be passed unless the purpose of the appropriation has in the same session been recommended by message of the Governor-General to the House in which the proposal originated.
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Project Legislation
To see example of Project Legislation; click here to see image
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Shall be issued in proper proportion to make the goods pass easily from the producers to the consumers. In other words, to make sure there is always adequate money in circulation for the needs of the community.
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To pay one or more of the States Project Legislation this shall be done using Section 96 or to take over the Debts of a State shall be done using Section 105 or 105A of the Commonwealth of Australia Constitution.
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Legislation for the following Projects;
and after the costing have been estimated and subject to sec 56,
shall legislate for the creation of finance to pay for the project.
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Purpose of the appropriation 56;
Project Legislation for the following;
Building railways and or roads,
Hospitals, schools, Universities.
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Water Distribution Project Legislation section 55;
All bottled water sold to all businesses taken from aquifers shall be stopped as this reduces
that water entering creeks, rivers and dams.
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Purpose of the appropriation 56;  
Parliament shall legislate to start these two projects; 
1  The grand water vision.
2  The Bradfield water scheme.
3  Install water tanks near house and factory and farm use.
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Municipal, sewerage, water services, new residential development. Salinity and water management.
To provide filter systems to filter water from the Dams into the town water supply storage tanks.
Would be no need for chlorine or flouride or any chemicals to treat the water in the storage tanks.
All business smoke and waste water emissions reduction and other environmental issues.
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Recycling of waste water.
Recycling of waste water and sewerage water by treatment, to be chemically pure for Parks and Reserves, residential and factory toilets, including recycling of all used materials, in Australia will be free of all costs to or from any resident or business.
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Desalination Project Legislation section 55;
The Oceans have continually had melting ice at the polar cap on this Planet.
This includes rain and snow from clouds falling on the land with the water from the melting snow
draining into the sea.
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Purpose of the appropriation 56;
For this reason Desalination Plants can be built on the ocean foreshores above the highest water level. The water can be pumped from the Desalination Plant to a higher level to fall into Turbines to produce electricity for supply to the Community and from the turbines; Canals can be built and rocks can be dumped in sections along the canal, so water can regain minerals as it flows over the ground, to a lake or any stream or;
Pipelines can be built so water can be pumped to or flow into any stream.
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Electricity to the Community. section 55;
That would be subject to the increase of the population in each Electorate.
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Purpose of the appropriation 56; 
Solar; Every house, business and factory to have solar panals on roof and capacitors in meter box.  
Wind Turbines, magnet motors and Tesla QEG Generators for supply of electricity to the Community.
Capacitors are like a battery they can store electricity when there is no sun shining.
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Project Legislation for the ordinary annual services of the Government sec 54;
Subject to Commonwealth of Australia Constitution.
Government approved expenses and charities. 
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Purpose of the appropriation 56;
Government Banking; The banking services provided to the Commonwealth Government by the RBA comprise two components. A core banking facility is provided to the Department of Finance and Administration (DoFA), which is non contestable in terms of the Commonwealth Governments competition policy. This facility is made up of a group of bank accounts, including the Official Public Account (OPA), a term deposit facility for the investment of temporarily surplus Commonwealth funds. .
The other component of the RBA’s banking is the provision of contestable transactional
banking services to government departments. Government departments are;
Centrelink, Department of Veterans Affairs, Department of Defence, Department of Projects.
A number of the existing Agencies may be transferred to a Department.
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The RBA shall distribute government payments direct to accounts at financial institutions through its Government Direct Entry System (GDES) in the form of a pension to every person over the age of 18 years for the remainder of their life.
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If person over age 18, becomes employed the earnings shall be half the pension and in addition
to Pension.  *** Example only;  Pension per week $300 divided by 2 = 150 + 300 = $450. ***
Businesses may request their bank to deposit employees income by electronic settlement.
The pension will replace all Centrelink pension and all other payments

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Public use of money created.
Method One, example;
Purchaser receives from sales person invoice in triplicate, to purchase goods. Purchaser goes to
bank who then deposits the invoiced amount into Target Account, bank keeps one copy, the
purchaser returns to sales person who keeps one copy and one copy to purchaser who then
takes possession as the Owner of the goods.
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Method Two; use EFTPOS only;
All account holder payments to provider or employee, shall arrange with their bank to make payment from the Exchange Settlement (ES) funds shall;
1) apply to their bank to issue electronic payments by EFTPOS only;
2) an amount payable to the registered Goods or Service provider or employee to;
3) deposit amount directly into Goods or Service provider or employee account.
4) Company planning to start a Project of it's own choosing must have access to finance. The signature of the Company Director shall be a Living Soul, not a computer signature shall complete a Statutory Declaration, the signature shall create the value and movement of the money to that Project.
If the People are protesting then the company must call for a meeting with the people, the decision of the People shall be final. And no court hearing decision shall be above the People.
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The Financial Markets, industry, manufacturers, small business, banks, home buyers, nursing homes, Charities, Medical Clinics and Child Care Centres. May use Method One or Two, to pay for their normal expenses.
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Re-cycling of manufactured goods every 15 years;
Residential; May use Method One or Two, People will have a special re-cycling fund available to them to buy one new car and may include  Refridgerators, stoves, washing machines, every 15 years.
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Transport Companies; truck, bus, taxi, aircraft, ferry, will have a special re-cycling fund available to them to buy for their fleet every 15 years. To maintain profitable manufacturing companies in Australia.
This will create a  continuous sales for the manufacturing companies resident in Australia.
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Farmers but not hobby farmers;
May use Method One or Two, will have a special re-cycling fund available to them to buy tractor/s, and other machinary needed to plant grains into soil.
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Public and Private Hospitals; May use Method One or Two, to pay for their normal expenses.
All medical expenses including Public and Private Hospitals, doctors, ambulance, paramedics,
dental, IVF Treatment, Umbilical cord bank. All Living Souls shall have free treatment and care.
Private Health insurance not needed and the medicare levy, shall be abolished.
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Schools and Universities; May use Method One or Two, to pay for their normal expenses.
Free School and if attending university free university course. HECS shall be abolished.
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Parents or Students;  Use $A notes and coin to withdraw from the bank or use EFTPOS to pay for stationary, text books and uniforms and to pay for items from shops or super-markets.
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Permanent Residence; First home buyers planning to have a family and a place of permanent residence shall be allowed one Title to one block of land, one four bedroom single story house and one car shall be married being one man and one woman must live at the residence a minimum of 60 months, if purchased through method one or two. Shall not be owned, rented or leased by existing resident or acting as agent for any foreign person or company.
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May be assumed the Living Souls will feel like working because they will not have any tax or
mortgage repayments or interest payments or reporting to a tax authority or Centrelink and
no restrictions on the value of deposits held in their name and easier to save and buy other items.
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How money from Project Legislation will be recycled;
An important function performed by the Australian Office of Financial Management (AOFM) is the management of the Commonwealth's cash balances. The Commonwealth's cash management task arises because the day to day timing of the Commonwealth's receipts does not match the disbursement pattern of its outlays.
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Cash proceeds not required for immediate purposes are placed in a short term investment facility (term deposit) provided by the Reserve Bank of Australia. The AOFM uses term deposit balances as the primary vehicle for managing within year mismatches in the timing of cash receipts and outlays.
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After which the legal tender of $A Notes and coins shall be recycled to the AOFM short term investment facility, to pay for costs related to National Consolidated Revenue Fund and normal government expenses.
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The issue of $A note and coins must be kept in circulation and shall be for the direct supply of liquid funds of $A notes and coins to the Exchange Settlement (ES) Account so banks can have cash available for public use and all withdrawals shall be free of repayments and interest.
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The surplus of funds not required, shall be returned to the Commonwealth Official Public Account at the Reserve Bank so the Reserve Bank using the RTGS and Exchange Settlement (ES) Account, shall continue Government payments to Federal and Territory and all States to pay for maintenance of rail and road and hospitals, universities and schools.
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The currency note and coin issue shall be an Asset in the Right of the Commonwealth.
All Banks shall provide the service but shall not purchase or create any currency, mortgages or loans.
Parliament all Business and Banks and all Individual account holders shall own the value but not
the notes and coins.
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To Control the money supply and inflation;
Withdrawals shall be based on need; if the number or value of withdrawals become excessive, example Real Estate, there shall be a maximum number or value of withdrawals over a stated period; will replace the existing Reserve Bank cash rate adjustments.
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All loans and mortgages repayments not complete shall be cancelled. People may apply to their
bank to issue Bank cheque or electronic settlement; to settle all repayments.
Once finance has been committed to say; building a house or a project, the money will not be
stopped while the house or project, remains in the process of being built subject to owners approval.
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May withdraw part or all of the value in cash from the bank account and account holder must not make out any Cheque to account holder, who is the same account holder or to a subsidiary company of the same group.
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Using Invoices to withdraw for gambling; or investment shall not be permitted, unless from personal savings. If personal cheque or bank cheque has not been delivered must be returned to the bank.
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Money created must equal money spent and money spent must equal money created.
Inflation (noun); Undue increase in the quantity of money, in relation to goods available for purchase.
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Existing Private and Commercial Investments;
All individual earnings, profits, superannuation and all other investment accounts may be retained.
All investments including all property will be by negotiation. If account holder has enough deposit in account to purchase property, there shall be no restrictions.
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Local industry, small business, and farming.
A economy which integrates the global and the local. The economy to allow a level of globalization in those areas that need to be open to competition, as well as a level of parliament support for industry, small business and farming. To concentrate on Exporting more than is being imported and a manufacturing base in Australia. Shall allow home grown small and medium businesses to thrive.
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If a large company buys a small company in a rural town or city, holds onto the company for a period of time, then decides to sell or completely close the company, with the excuse that the company is too small and earnings not large enough to compete within the global market; the Living Souls shall receive parliamentary assistance or the parliament shall use the Constitution Section 51 subsection 31 to aquire the company, given to the workers who shall be the owners.
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People and businesses defaulting loan repayments may cause business and people to apply for bankruptcies or loss of collateral, usually property. A country can not have a strong economy if the People have gone into debt, who have no jobs and receive pensions.
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The benefits of this arrangement is to allow greater social cohesion and strong local communities, as well as a dynamic globally orientated economy. Debt Free System is a win, win system for all.
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Australia would become the tax haven of the world where; overseas investments and setting up
companies in Australia would supply more jobs for Australian workers.
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The introduction of robots and other like technology that will involve the reduced need for
human labour the Debt Free System is looking into the future.
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A Debt Free system value of Australian coins and notes on issue will remain stable because the
currency will be recycled and backed by the productivity of the People, including Gold and Silver.
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To set up an agreement between parliament and unions, to maintain wage stability, jobs growth and a generous basic wage to every person over the age of 18 years and the remainder of their life. Although superannuation will not be stopped it will not be needed by the People to provide for their retirement because the People will be provided with a permanent pension for all adults and this will be coupled with Parliament legislate for new Projects; to cover other costs if their bank account has not enough value of funds to cover that cost.
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Part 4; The People's Mandate;
The Futures Market initiative:
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Sydney Futures Exchange Clearing House acts as a central counter party to its members' trades
and will operate its Exchange Settlement (ES) Account exclusively on a real time gross settlement (RTGS) basis. See Page 4, RTGS and Other Settlement Services.
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Will Project Legislation effect Superannuation and other investments?
Will it effect the Futures Market?
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If the investments includes Treasury Bonds and these are abolished;
yes, and that will include overseas markets as well.
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Can the Treasury Bonds be replaced? -- Yes.
Reserve Bank and the Sydney Futures Exchange can initiate an agreement to issue Reserve Bank Bonds a minimum of $50,000,000,000, financed by all investors.
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Reserve Bank may issue Reserve Bank Bonds through it's existing Registry Services;
The core functions of this service cover the issue,
transfer and registration of securities,
the maintenance of ownership records,
the distribution of interest payments and
the redemption of securities at maturity.
and may have a face value of $1,000, 100,000 or $1,000,000.
may have interest paid every six months, may have a maturity date.
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The Reserve Bank may use it's existing trading procedures, the Austraclear system operated by
SFE Corporation Limited, as they have done with the Treasury Bonds.
All existing Treasury Bonds shall be converted to Reserve Bank Bonds and no changes to any
existing investors holdings.
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Reserve Bank Bonds Interest income may be secured by trading fees or other investments.
Money not required by the Exchange Settlement accounts may be used as interest payments to all holders of the Reserve Bank Bonds.
See Domestic Dealing Arrangements and Exchange Settlement accounts page 2;
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The Parliament, all banks and businesses and members of the public may apply to their bank to
purchase the Reserve Bank Bonds; no repayments or interest expense.
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The Australian Office of Financial Management (AOFM);
Debt Issuance in Futures Market. This will cease as from the introduction of Project Legislation.
The Government recently publicly reviewed the future of the Commonwealth Government securities market against a backdrop of financial market concern about the future viability of the market.
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The Government released a discussion paper in October 2002 and invited written submissions from interested stake holders. The outcome of the review was announced in the Budget in May 2003 with the complete decision contained in Budget Statement No 7.
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There shall be concluded that sufficient Reserve bank Bonds should be issued to support the Reserve Bank bond futures market; usually traded as 10 or 3 year Bonds.
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Further, the Australian financial market may become less diversified and more vulnerable during
periods of instability. The issue of Reserve Bank Bonds, would be targeted to support the
Reserve Bank bond futures market by replacing the Treasury bonds with the Reserve Bank Bonds.
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End of Supplying the Futures Market
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Special Notes;
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Benjamin Franklin wrote:
In 1750, this New England was very prosperous. Benjamin Franklin wrote: There was
abundance in the Colonies, and peace reigned on every border. It was difficult, even impossible,
to find a happier and more prosperous nation on all the surface of the globe.
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Comfort prevailed in every home. The people in general, kept the highest moral standards,
and education was widely spread.  
In the Colonies, we issue our own paper money. It's called Colonial script. We issue it to pay the Government's approved expenses and charities.
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We make sure it's issued in proper proportion to make the goods pass easily from the producers to the consumers. In other words, we make sure there is always adequate money in circulation for the needs of the economy.
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In this manner, by creating ourselves our own paper money, we control its purchasing power,
and we have no interest to pay, to anyone. You see, a legitimate government can spend money
into circulation, while banks can only lend significant amounts of their promissory bank notes,
for they can neither give away nor spend but a tiny fraction of the money the people need.
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Thus, when your bankers here in England place money in circulation, there is always a debt
principal to be returned and interest (usury) to be paid.
The result is that you have always too little credit in circulation to give the workers full employment.
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You do not have too many workers, you have too little money in circulation and that which
circulates, all bears the endless burden of unpayable debt and interest (usury).
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Shall abolish;
Abolish HECS, loan and mortgage and the repayments and interest payments on them, Treasury Bonds and Notes, all credit cards, taxation and all statutes, by-laws, regulation costs and delegated laws. .
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The Constitutional value of Notes and Coins.
The coinage which developed was standard, as distinct from today's token money, that is; the coins were worth their weight in gold and silver.
Money loses value when it's supply is increased at a rate in excess of the capacity of the economy to produce goods and services. Bank notes were originally issued to depositors as evidence that gold was held on their behalf in a bank.
It became convenient for the depositor to use the notes to transfer the deposit to another person,
for value received. The value of the notes was matched by the value of the gold held in banks.
As banks realized the reserves of hard currency they held, it became a short step to lending it out, at a rate of interest, by issuing bank notes to borrowers.
The value of token money now exceeded real money.
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(Macmillan Report)
The possibility of manipulating the economic prosperity as between one country and another through an international financial organization, such as is growing up independent of effective national control, and having ends to serve which are not those of the populations affected, is perhaps one of the most serious aspects of the annexation of financial credit.   Unquote.
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Constructed, authorized and printed by Mr. S. F. Broad
9 Waitara Ave, Keysborough. 3173. Phone 61 03 9798 5149.