Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017 snuck through, on 14 February 2018, with hardly any pollies around.

LINK

Sneaky legislation like that usually originates from the RBA, draft it up and the politicians finish their dirty work

Bailouts are normal now. The Soviet Union was designed around them. But there is no Soviet Union no more

Always follow your own money. Read banks Annual Reports and Financial Statement to compare their debt to asset ratio. The less debt, the safer they are (but knowing they can get bailouts, they might get reckless and greedy)

Too much work? there's lots more you can do, like checking the number of bankruptcies each year. Home loan defaults. Debt increases etc etc. If the picture is looking worse and worse, get ready to take action

"'Neill, Sen Deb ALP Senator O'NEILL ( New South Wales ) ( 11:58 ): I rise to speak in support of the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other "

"Bowen, Chris, MP McMahon ALP Mr BOWEN ( McMahon ) ( 17:22 ): The Labor Party will support this legislation through the House and through the other house"

"No proposed amendments have been circulated."

http://parlinfo.aph.gov.au/parlInfo/search/summary/summary.w3p;query=BillId_Phra...

Bias_2012 wrote on Feb 19^th, 2018 at 3:59pm:


So you think somehow the "interests of the depositors" is not their money? What other interest in a bank does a depositor have?

lee wrote on Feb 19^th, 2018 at 3:26pm:


Or is it to protect their reckless lending practices so they can keep their ponzi lending scams going so that property prices don't collapse ? Because as we all know property has never crashed in Australia because we have a well regulated banking system LOL

lee wrote on Feb 19^th, 2018 at 3:53pm:

Amendments were going to be circulated, especially by One Nation, but the bill was quickly passed (without the Senate having a quorum) while the amendments were still under review.

Bam wrote on Feb 19^th, 2018 at 7:52pm:



Got a reference for that?

lee wrote on Feb 19^th, 2018 at 4:57pm:


Just look at their loan books and what percentages are in property You didn't think these four pillars of trash banking were ever going to support productive industries like the banking sector does in germany ? These dummies wouldn't know what real productive industry was

LINK

Bit of info here

Change.org

LINK

Quote:


Change.org

LINK

lee wrote on Feb 19^th, 2018 at 8:41pm:

Personal attacks now? Grow up , troll.

lee wrote on Feb 19^th, 2018 at 10:20pm:


Check their loan books. Nearly 70% is in property deals.

Also what are their cash reserves ? They have 1% cash reserves whilst they recklessly lend out other peoples money. No wonder they can get away doing this with a government guarantee to protect them

Sir lastnail wrote on Feb 20^th, 2018 at 9:07am:

And the fools wonder why the banks didn't want mortgage lending looked at when they wrote the terms of reference for the alleged Royal Commission.

Bam wrote on Feb 20^th, 2018 at 6:58am:

That wasn't personal. If I had wanted to be personal I could have said much worse.


Just try, occasionally even, to provide links to some of your assertions.

The only thing that can be done now is to negotiate with your bank to see if you can be exempted from deposit confiscation in times of financial crisis, try to get a written agreement between just you and your bank, threatening them that you'll withdraw all your money and give them no more of your business - ever

Another way is to take out insurance on your deposits, but ensure that the premiums are less than the interest earned on your short term investments or whatever

We can see now what stinking bastards the Libs and Labs are after the mongrel trick they played on One Nation who were only trying to protect the banking public, but ON was a bit naive to remain outside the Senate chamber waiting for an answer from the so called "legal experts", the Libs and Labs have always been bastards and ON has not fully realised that yet

Which is the better way to protect the public, Govt confiscation of your deposits, or allowing you to keep them?

Keeping them means you can keep spending in a time of crisis and keep businesses going

Bobby. wrote on Feb 20^th, 2018 at 3:52pm:


and yet the c..ts won't let you invest in physical precious metals. You have to buy their promissory notes

Bobby. wrote on Feb 20^th, 2018 at 4:01pm:


we won't see a penny of it. Most of it will stolen by legalized theft

lee wrote on Feb 20^th, 2018 at 11:13am:


It was quoted in a financial article a few years ago. Try and refute it. These banks are running on vapours and are relying on a growth in immigration and hence bank fodder to keep their ponzi scheme running !! Little wonder the pollies won't talk about limiting immigration because it is all part of their fake economy

Sir lastnail wrote on Feb 20^th, 2018 at 4:09pm:

If that were to happen, banking executives would be physically dragged out into the street to be shot. There's no way that the people would roll over meekly and allow it to occur without someone getting very, VERY angry.

Bam wrote on Feb 20^th, 2018 at 5:30pm:




It wouldn't get their money back.

Look at what happened in Cyprus.

https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis

Bam wrote on Feb 20^th, 2018 at 5:30pm:


Really? Remember that only criminals and governments own guns nowadays.

Hardly even saw a whimper from the mum and dad losers after the GFC in a country where they are
still allowed to possess firearms.
The mum and dad public had to foot the bill whilst only a few criminal bankers got dragged over the coals for showmanship.

If the poo does hit the fan then it might be a wake-up call that we the public really are the government and we the public are responsible for who we allow to make decisions on our part.

They are public servants. No they're not, they're our controllers.

Of course they do it for love, because look at the measly salary they earn compared to what is earned in the private sector.
But hang on, look at the frikin' pension that they vote for themselves compared to anybody else on the planet! Power hungry thieves is all. If they really gave a poo about the mum's and dad's out there, they would serve honestly and accept the same pension that they voted for everybody else.

Bias_2012 wrote on Feb 20^th, 2018 at 11:42pm:


I thought it had been increased to a million. What a scam. These banks operate like it's the wild west.

Valkie wrote on Feb 21^st, 2018 at 4:32am:

It's quicker and cheaper to hang them. All that's needed is some wood (or even a tree) and some good strong rope.

This legislation sounded very bad. 

For example, if you have 500,000 dollars in home loan, and 500,000 dollars in an offset account.   One would figure that the home loan is basically paid off right.  No... with this legislation.  In time of crisis, the savings on the offset account would disappear.  BUT, you are still liable for 500 000 in loan tied to your home.  If you cant make the loan amount, then your house will be sold to pay for the loan. 

Nasty nasty.

And there is more to come.  Soon, we will move to a cashless society - which is government's current favourite phrase of the month to stamp out so called 'black economy".  But in reality, its just more 'bail out' money for the banks.

tickleandrose wrote on Feb 21^st, 2018 at 11:31am:



Then don't leave much in your offset account.

Bobby. wrote on Feb 21^st, 2018 at 12:14pm:


Most saving's account nowadays double up as an offset account 

tickleandrose wrote on Feb 21^st, 2018 at 11:31am:



I think brand new banknotes are trackable - nano chips? See the new notes here

https://banknotes.rba.gov.au/banknote-features/#-new-fifty

Read this ... July 17

http://www.news.com.au/finance/economy/australian-economy/cash-crackdown-boss-fl...