When the government and financial authorities assure you your deposits are guaranteed, don’t believe them. They have proven time and again that in a financial crash they will put the survival of banks and their powerful owners first.
Are federal MPs willing to vote for a bill that could allow the deposits of their constituents—individuals, businesses, non-profits—to be confiscated to prop up a failing bank?
Treasurer Scott Morrison has today introduced into Parliament the bill to give emergency powers to APRA, the regulator that has allowed the banks to abuse their power and positions.
Australia’s formerly government owned bank, the Commonwealth Bank, is now a rapacious financial predator that has gouged and ruined thousands of customers and knowingly laundered money for drug syndicates and terrorists in the pursuit of mega-prof
Anyone still not convinced Australia’s property bubble is close to bursting should take note of a trifecta of recent warnings: forecasts of a major contraction in construction by industry insiders, a major reversal in international capital flows t