Although the Paris terrorist attack overtook the planned agenda of the 14-15 November G20 Leaders’ Summit in Turkey, nevertheless that summit accepted the Financial Stability Board’s (FSB) demand for a “bail-in” regime to prop up the 30 global too-big-to-fail (TBTF) banks.
Newly sworn in Prime Minister Malcolm Turnbull has a big black mark on his curriculum vitae, in the name of Goldman Sachs, that should ring alarm bells. Goldman Sachs’s influence in government the world over has been a story of misery and economic destruction.
Ahead of the G20 Leaders’ Summit in Brisbane this weekend, the banker in charge of the bail-in agenda has announced the finalised plan to prop up Too Big To Fail (TBTF) banks, for agreement at the summit.
The interim report of David Murray’s Financial System Inquiry, released 15 July, pushes the case for supposedly solving the problem of too-big-to-fail (TBTF) by implementing “bail-in”—the system which includes confiscating customer deposits to prop up failing banks, Cyprus-style.
Joe Hockey’s denials about “bail-in” have again been officially contradicted, this time by his own Treasury department, in its submission to the Financial System Inquiry (FSI).
Former Prime Minister Malcolm Fraser has again intervened in the rapidly escalating war build-up against Russia and China, with a call for Australia to break decisively with the British Empire, and with an America presently acting in that British imperial tradition, and assert ourselves at long last as an independent sovereign nation.
