GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

Visitors

Articles View Hits
258888

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form
Recent blog posts
BFCSA has extended the wording of our PETITION to DAVID MURRAY at the Financial System Inquiry.  We have included Non Banks and those victims of Collapsed Companies as or are interrelated to the CONTROL FRAUDS we have identified in the past decade: BANKING, PROPERTY, DEVELOPERS, CONSTRUCTION. We have had a number of requests to do this.  As you all know I have delved into all of these issues re Banks, Non banks and Collapsed Companies for nearly two decades.  I had intended to do three PETITIONS, yet I have listened to the argument that it is better for the entire network to be exposed in one hit.  The Mr BIGs are known globally as CONTROL FRAUDS and invade the entire sector of BANKING, PROPERTY, DEVELOPERS, CONSTRUCTION. They are all interrelated.  The Terms of Reference must be inclusive of retirees who were plundered of their life savings and statistically quantified at $100 billion in LOSSES to date.  The Banking issues from...
Last modified on
Hits: 40 0 Comments
Rate this blog entry:
Continue reading
Ok here is your chance to say what you really think about FOS decisions.  A BIG FAT ZERO out of TEN FOS is sending out surveys today: "do you still like us?" Bankers pay FOS $5000 for every complaint received. That adds up to around $34 million. I am sure what complainants will be saying...out of ten we score you a BIG FAT ZERO!   The $280k compensation is woefully inadequate as suggested by the Senate in June 2014.    Our loans are over $600k on average. BFCSA is privy to the collective decisions, recommendations, and " take it or leave it Determinations."  A  $7000 discount for fraudulent 30 year Interest Only Unaffordable loan ....a sort of life time IOU is appalling.  All FOS decisions should be overturned and all files be re investigated by an independent consumer team.  FOS decisions favour the banks in most cases and making customers 50% liable for the bank generated fraud is obscene.  Its not fair and certainly not Justice!!!  These Ombudsmen are ex...
Last modified on
Recent Comments - Show all comments
  • setup
    setup says #
    I did not recieve an email from Fos either. I too did what Susan and Organza did and got the same reply. They wouldn't have fabric
  • organza
    organza says #
    I did not receive such an email from the FOS either so not wanting to miss out on such an opportunity I just did as Susan did to g
  • Susan
    Susan says #
    It's amazing the things you can do without knowing! The emails from FOS went out yesterday - September 1st. Right? I haven't
  • Aries
    Aries says #
    Can't understand why they would send out a survey, don't they read the blogs and comments about FOS. Do they want this survey to p
  • NABbed Nanna
    NABbed Nanna says #
    WOWZA. Didn't think FOS would want to ask ex complainants to have their say. Cannot imagine there would be to many satisfied cus
Hits: 104 6 Comments
Rate this blog entry:
Continue reading
http://www.afr.com/p/business/property/foreigners_illegally_buy_trophy_IttwNqhaCStBBNvSUod5OK Foreigners illegally buy trophy homes in Sydney and Melbourne PUBLISHED: 16 hours 0 MINUTES AGO | UPDATE: 3 hours 36 MINUTES AGO Real estate agents and property lawyers are willingly helping foreign investors to illegally buy prestige homes in Melbourne and Sydney, says buyers’ agent David Morrell.  Mr Morrell said foreign buyers without the Australian residency requirement to own existing property and who did not speak English were buying up big land banks in blue-chip suburbs such as Toorak and Hawthorn while the Foreign Investment Review Board took no action. Mr Morrell likened the powers of the FIRB to “a slap in the face with a wet lettuce”. He said estate agents, whom the FIRB relied upon to report foreign buyers flouting the rules, were looking the other way in return for higher commissions.  “The lawyers are also getting something out of it, so they’re not going to dob in...
Last modified on
Hits: 86 0 Comments
Rate this blog entry:
Continue reading
Of course Banks are stalling - our banking and finance system gets worse by the minute!  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.afr.com/p/business/financial_services/big_banks_stall_on_global_tax_evasion_KUurnKuqx7NMlYgpgcH2yM Big banks stall on global tax evasion crackdown PUBLISHED: 6 hours 32 MINUTES AGO | UPDATE: 6 hours 22 MINUTES AGO 1 September 2014 Georgia Wilkins Australian banks are stalling on a deal that will help expose tax evaders to global authorities.   The information sharing deal, part of the G20 talks in Australia this year, requires banks to pass on information about their customers to the Australian Tax Office.  The deal has been signed by more than 40 countries, including the UK, US and tax havens such as the British Virgin Islands.  Australia has signalled it will sign up to the deal but has refused to do so before consulting with business. In a submission to the Treasury, the Financial Services Council, which represents the big four banks through their financial planning arms,...
Last modified on
Recent Comments - Show all comments
  • Susan
    Susan says #
    If the governments are so worried about tax evasion perhaps they'd better take a good look at the banks. In an article that looks
  • organza
    organza says #
    One positive I have discovered re having to continually swim against the tide when dealing with loan sharks is how much it determi
  • kddeed
    kddeed says #
    As usual Denise your pics are so appropriate to the topics. I feel like this picture sometimes ... sinking, drowning, swimming ag
Hits: 90 3 Comments
Rate this blog entry:
Continue reading
Glory Be we have found some more of these by accident........................... We now have Bankers manufacturing FAKE records of interview.  We  presume this was to satisfy Banker's statutory obligations under Anti Money Laundering and Counter Terrorism Financing Act.  Can you hear the whir of the shredding machines?  Is this why you asked FOS to tell Parliament large chunks of files are "missing."  All on song are we boys?  Bankers, FOS, ASIC......all in together against the lowly consumers of toxic loans. Time for the Federal Police to be called in..............................oh hang on I forgot to tell you all........the AFP are taking Fraud lessons in at ASIC.  A couple of their ranks were "seconded" to ASIC. Yes indeedy Medcraft explained to the Senators - who stared back in disbelief!!!! What a dog's breakfast our monetary system really is.   Thanks Pete and yes we have seen a handful:    Dear Denise After reading your email re the...
Last modified on
Hits: 89 0 Comments
Rate this blog entry:
Continue reading
Joe Hockey's former adviser Tony Pearson goes in to bat for the banks James Eyers September 01, 2014 Tony Pearson is set to join the banking industry's peak lobby group. Photo: Aaron Brown NAB in need of a 'deck scrubbing' One of Federal Treasurer Joe Hockey's senior advisers has been snapped up by the lobby group for the banking industry as it battles recommendations from the financial services inquiry. The Australian Bankers' Association on Monday announced four new appointments that it hopes will improve its lobbying efforts in Canberra including economist Tony Pearson, who for the past five years has been a senior adviser to Mr Hockey. He joined the ABA on Monday as executive director of industry policy. He will be joined by Aidan O'Shaughnessy, who will become the ABA's policy director of industry policy from Tuesday after moving across from the Australian Securities and Investments Commission. Christine Cupitt, who has most...
Last modified on
Recent Comments - Show all comments
  • organza
    organza says #
    The clue re how they operate is all revealed in the Tom Cruise movie The Firm. All you need do is substitute mafia with bankers a
  • Duped
    Duped says #
    We've said it before about this close knit club and how they move from each organisation. Conflict of interest everywhere. Club Ca
  • setup
    setup says #
    How about that, a well knit cosy club for the boys - birds of a feather will always stick together. What an amazing piece of news
  • Denise
    Denise says #
    Like Rats up a Drain Pipe!! Will you be helping with the shredding of client docs Tony? OK so the ABA will need all the help they
Hits: 80 4 Comments
Rate this blog entry:
Continue reading
Notice how petitioners are using their correct names?  No longer are they scared or afraid to stand up for the next generations and say Australian Bankers are greed driven parasites who feed on the vulnerable and steal other people's homes to ensure $100 million in salary and exit bonuses.   These are criminal acts that the Australian Federal Police and Treasury have ignored since 2002 and their day of reckoning will come.  Our Australian Sub Prime Mortgage Loans Scandal is worse than any other nation - we hit on ARIPs  Asset Rich but on a pensioners or small business low income:  people who are the backbone of this country.   All Politicians should start showing some respect and listen to the important messages which could severely hamper our economy if Bankers are left to continue unregulated!  The time to act was in 2002 chaps.  Get a move on!!!  I can see...
Last modified on
Recent Comments - Show all comments
  • setup
    setup says #
    Every guilty bank criminal should be named and shamed along with the name of their bank repeatedly on mainstream media.
  • Susan
    Susan says #
    Unfortunately, it's evident that banksters don't have a conscience, so don't hold your breath that suicides will change that - it
  • Duped
    Duped says #
    Well said kddeed, just keep on fighting for justice. Sooner or later the penny will drop with politicians that they should have p
  • kddeed
    kddeed says #
    Pull your finger out David Murray, we need that Royal Commission urgently . Mark my words you will have suicide's on your conscie
Hits: 99 4 Comments
Rate this blog entry:
Continue reading
Great way to disguise a mortgage - ABN's for a day if probably what this means!   http://www.loandesk.com.au/believe-anz-will-pledge-2-billion-new-small-businesses/   ·  July 23, 2014 Nina Hendy Business Loans, In The News Why is ANZ Pledging $2 billion to new small businesses?   Nina Hendy is a Loandesk contributor who has been writing about small business, entrepreneurs, corporations, finance, marketing and everything in between for more than a decade. She’s hired to research and write on these topics by BRW, The Sydney Morning Herald, The Age, SmartCompany, StartupSmart, The Investment Stylist and businesses needing a wordsmith. Don’t you think it sounded a lot like marketing? Really good marketing, admittedly. I mean, you’ve got to love a bank that’s openly committed to small businesses, right?  ANZ tells us the pledge is because it’s committed to small businesses and wants to support the role they play in the broader economy. Oh, and they’re also prepared to...
Last modified on
Recent Comments - Show all comments
  • Susan
    Susan says #
    'Love' and 'Bank' ..... Aren't they contradictory terms ....??
  • kddeed
    kddeed says #
    The cartoon says it all really!!
Hits: 101 2 Comments
Rate this blog entry:
Continue reading
http://www.australianbankingfinance.com/banking/boq-acquiring-jewel-in-investec-s-crown BOQ acquiring jewel in Investec’s crown Marion Williams April 17, 2014   If well managed, Bank of Queensland’s (BOQ) acquisition of two specialist finance businesses could become as valuable a part of its business as it was for previous owner, Investec.  BOQ managing director and chief executive officer Stuart Grimshaw said the acquisition is a good strategic fit that brings diversification from both its home state and from mainstream retail lending. Furthermore, as a “high touch” client-based business, it dovetails with BOQ’s relationship-focused business model. A big chunk of the $440 million Investec acquisition announced last Friday is the Professional Finance business which has a $2.2 billion loan book, $3 billion of residential mortgages under management and a $2.7 billion deposit book.  Barry Lanesman, head of the Professional Finance business, is equally excited at the growth prospects for his business that weren’t previously open.  The business is a niche provider...
Last modified on
Hits: 72 0 Comments
Rate this blog entry:
Continue reading
Bit of historical value from Gladys.  We like our readers to be fully informed  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.fxweek.com/fx-week/news/1546707/lehman-gains-cba-split Lehman gains from CBA split Source: FX Week | 17 Dec 2007 Categories: Accounting, People SYDNEY - The Commonwealth Bank of Australia's (CBA) decision to split its global markets and treasury business is playing into the hands of local competitors Lehman Brothers and the National Australia Bank. Marten Touw, previously head of global markets and treasury at CBA in Sydney, began a new role as head of fixed income at Lehman Brothers Australia on December 3. He reports to Ben Harding, chief operating officer in Sydney, and Hyung Lee, head of fixed income for Asia-Pacific in Tokyo. Vincent Hau, previously Sydney-based general manager of products and training in CBA's global markets and treasury division, also jumped ship to Lehman in the first week of December. Hau is now Lehman's head of liquid markets, Australia, which...
Last modified on
Hits: 60 0 Comments
Rate this blog entry:
Continue reading
http://www.crikey.com.au/2014/08/01/the-next-subprime-mortgage-crisis-in-the-making/ The next subprime mortgage crisis in the making Paddy Manning|Aug 01, 2014   We’re not as immune from the mortgage lending laws that triggered the Global Financial Crisis as we might think!  It is a bit of myth that Australia dodged the global financial crisis because we had tougher lending standards than the United States, where ticking-bomb subprime mortgages were packaged up into toxic derivatives like collateralised debt obligations, slapped up with dodgy AAA credit ratings and on-sold to financial institutions investors all over the world...............   Swept under the carpet in Australia during the GFC was the prevalence of loan application fraud, a form of predatory lending that consumer advocate Denise Brailey has been campaigning to expose for years.  The transfer of responsibility for consumer credit laws was transferred to the Commonwealth under the National Credit Act 2010, with the Australian Securities and Investments Commission taking over regulatory responsibilty....
Last modified on
Hits: 185 0 Comments
Rate this blog entry:
Continue reading
The frauds are perpetrated by the Banks - that's why banks report they do not find many incidences.  In 2008 all banks reverted to NO VERIFICATION OF MORTGAGE LOANS and credit cards are included in the package as some type of third line forcing plan.  Truth would be good from ehre on in.  Who on earth would trust a Banker or the banking regulators?  RESIMAC say: we introduced verification calls to new applications to verify details.”   Ok so how many?  All of them or a spot effort? Is that clever wording? Newsflash for RESIMAC your newly acquired bundle of joy mortgages from RHG - bucket loads of fraud and no verification of income took place...............................ring up those RHG customers and ask the question.                BOM words show they verify nothing................... All mortgage loans FULL DOCS AND LOW DOCS are UNVERIFIED...meaning no phone call to customer...
Last modified on
Recent Comments - Show all comments
  • Susan
    Susan says #
    So we signed a page that said we forego legal advice re our loan. We trusted the bank. After all, people sign credit contracts e
  • kddeed
    kddeed says #
    Same here 'setup', no phone call received!! You just have to go back and look at old blogs and it's unbelievable how many years h
  • setup
    setup says #
    That's right we certainly did not receive a phone call at any time to verify our income. If we had we wouldn't be in this mess tod
Hits: 109 3 Comments
Rate this blog entry:
Continue reading
Your turn to fight back and demand a Royal Commission into Australian Four Major Banks and all other lenders engaged in Liar Loan Mortgage Lending, commonly known as SUB PRIME LENDING. Hi Members – You asked me for this…………………………….an easy way to urgently gain a Royal Commission and have all witnesses brought in for questioning and all documents to be discovered.  It’s the most POWERFUL thing that you will ever do to either save your home OR demand compensation for your loss.  CIRCULATE TO EVERYONE YOU KNOW TO DEMAND Royal Commission into the Four Major Banks and all other lenders  This is how to use social media.  I have placed a BFCSA petition on change.org  https://www.change.org/p/mr-david-murray-chairman-of-the-financial-system-inquiry-recommend-an-urgent-royal-commission-into-australian-banks-the-regulators-and-the-financial-product-sellers#  send to all email contacts and friends - facebook and twitter Please sign our PETITION If you have never done this before its easy…just have a go. We hope at least 500 of you will...
Last modified on
Recent Comments - Show all comments
  • kddeed
    kddeed says #
    B.A.N.K.S. - Bastards, Arseholes, Nefarious (evil, wicked, sinful), Keep (to refrain from divulging or violating: to keep a secret
  • Louie2U
    Louie2U says #
    I have just finished reading this book. What astounds me is that it was written in 1992! Yet many, many statements contained withi
  • Denise
    Denise says #
    Our petition signers are GENUINE and the information they write has INTEGRITY and that's more than we can say for Bankers. Other
  • setup
    setup says #
    I have sent mine to everyone i know - victims and non victims and asked them to do the same.
  • Aries
    Aries says #
    Everyone needs to sign and send off, no point in a few hundred signing we need thousands.
Hits: 102 7 Comments
Rate this blog entry:
Continue reading
You will not believe this...bank on it!  Well done Courier Mail....  He says he is entitled to $4 million because of "confusing wording.....?"  SUDDEN EXIT Stuart!  Hmmm  We have plenty of victims of BOQ's "unique branch owner model."  NO head office to report to.........................refer to your branch.........the one that approved your $500k unaffordable, fraudulent LOW DOC LIAR LOAN.   It seems losses all round...................It would make BFCSA Members weep!          This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.couriermail.com.au/business/asa-concerned-about-potential-4m-bonus-for-bank-of-queenslands-retiring-ceo-stuart-grimshaw-as-he-heads-to-pawnshop-lender-ezcorp/story-fnihsps3-1227024835242?sv=861844f7bd23fdfd3b4426a2d19f9c71 ASA concerned about potential $4m bonus for Bank of Queensland’s retiring CEO Stuart Grimshaw as he heads to pawnshop lender EZCorp by:Liam Walsh From: The Courier-Mail August 14, 2014 A PEAK shareholding group has expressed concern over Bank of Queensland chief executive officer Stuart Grimshaw potentially being allowed to resign while hanging on to $4 million in long-term bonus stock. The Australian Shareholders’ Association has also criticised BoQ’s board over its handling of Mr Grimshaw’s sudden...
Last modified on
Recent Comments - Show all comments
  • Louie2U
    Louie2U says #
    Jon Sutton was the bulldog at BankWest in Perth when Commonwealth Bank "bought" them. He oversaw the the changeover and I am sure
  • organza
    organza says #
    Shades of the Grim Reaper here if you ask me!
  • MickyD1112
    MickyD1112 says #
    Can anyone tell what 4 Million looks like in their bank account?Good riddance
  • Aries
    Aries says #
    Yes getting out before the s*#t hits the fan, moving overseas to keep a low profile. Hope a Royal Commission comes about, then all
  • setup
    setup says #
    Another deceitful money grabbing parasite. Good riddance to him like many others but a leopard never changes it's spots - no doubt
Hits: 81 6 Comments
Rate this blog entry:
Continue reading
CHRISTOPHER JOYE   New data released during the week allows us to objectively lift the lid on the true level of risk in Australia’s banking system. Remarkably the evidence suggests the biggest banks have actually reduced tier-one “equity” capital and increased leverage over the past decade, which contradicts the consensus that our banks are more conservatively capitalised since the global financial crisis. Information published by the Australian Prudential Regulation Authority (APRA), which should be carefully inspected by David Murray’s financial system inquiry, addresses several myths that investors and financial advisers have swallowed hook, line and sinker. The $400 billion too-big-to-fail major banks are leveraged about 10 times, right? Wrong. But they have more loss-absorbing tier-one equity capital and less leverage than competitors? Incorrect. Well, they have absolutely boosted equity and cut leverage after the lessons learned during the GFC about the ease with which highly geared entities fall over? Wrong again. Every...
Last modified on
Hits: 65 0 Comments
Rate this blog entry:
Continue reading
David Murray benefitted from this disgraceful conflict of interest.  The best he can do is call for the SEPARATION and repair some of the damage he in fact profited from - almost by $100 million in last few years.............................This indeed will be a test of strength and character.....to say no to separation and no to weak regulators lying to Parliament, To say no means the FSI is saying "more of the same chaps."    Bring on the Royal Commission into Banking and give Mums and Dads a chance to have their say - they were the end users.                    This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.afr.com/p/business/financial_services/macquarie_dodgy_advice_scandal_forces_ULSvD9AnKad7lBKlHrQ7lL   Macquarie dodgy advice scandal forces rethink of banking model PUBLISHED: 25 Aug 2014 00:05:24 | UPDATED: 25 Aug 2014 Sally Patten   Financial advice. Where to start? After an extraordinary few weeks, during which it was revealed that Macquarie Group was writing letters to thousands of customers who may have...
Last modified on
Recent comment in this post - Show all comments
  • setup
    setup says #
    The only power the banks have is the one the people gave them and can easily take it back. Without our money they are nothing just
Hits: 93 1 Comment
Rate this blog entry:
Continue reading
http://online.wsj.com/articles/australian-banks-warn-against-tougher-regulations-1409301494 Australian Banks Warn Against Tougher Regulations Australia's Big Four Argue Against Imposing Tougher Capital Buffers Aug. 29, 2014   MELBOURNE, Australia--Australia's largest lenders defended their ability to withstand any future banking crisis and warned against further moves to strengthen the financial system, in submissions published Friday to a government-backed review.  The country's so-called Big Four banks in submissions to the review of the financial system opposed the imposition of tougher capital buffers. They have also argued against the need to ring-fence investment banking operations and advised caution over introducing any creditor "bail-in" system.   "A compelling case has not been made that further strengthening would provide additional benefits to the financial system," Mike Smith, chief executive of ANZ, said in a submission published on the inquiry's website Friday, adding steps had already be taken by the banks and regulators that would protect the public from losses. The big banks and...
Last modified on
Hits: 84 0 Comments
Rate this blog entry:
Continue reading
Deary me.  Do we have no-one capable of telling the truth in Government and in particularly Treasury?  35% of loans are business and commercial?  So how do the banks account for the thousands of loans issued to pensioners and the documents were doctored to show "Self Employed" and then with a FAKE ABN attached that the borrower did not discover until BFCSA told members and Parliament in 2012.  Bank BDMS (Officers) sent emails to all 11,000 sellers of the broker channel: "you can now do ABN's for a day"...These loans were classified by Four Majors as "business"........................APRA never look behind the curtain and that's scary.  BOO!  Then again APRA told the Parliament 8 August 2012 there was only a 10% risk with RMBS Packs.  Then when I threw a few facts to dispel those myths onto the Senators' bench, Treasury announced it has scrapped the AOFM's purchasing of these products using...
Last modified on
Hits: 82 0 Comments
Rate this blog entry:
Continue reading
Our regulations are WEAK against corporate criminals because our REGULATOR KNOWS this is all risky business via property as valuations are skewed and monies pocketed.  Australian Securities and Investment Commission ("ASIC") is reactive NOT PROACTIVE.   ASIC knows who the culprits are by watching ads and PDS registrations and can identify the potential PONZI like structures the same as I can, yet they fail to do anything at all until the entire evil empire collapses.  The only ones to make money from this are the promoters and the Liquidators make a motza........................SIMPLE SOLUTION - if you cannot trust the corporate regulator then DO NOT INVEST.  There is no surveillance work and no action taken until money all gone!  No wonder there is $10 billion hidden under beds!   This is worse than the GFC...................here in Australia.  Losses will be horrendous and with a devastating effect as retirements are washed away and...
Last modified on
Recent comment in this post - Show all comments
  • setup
    setup says #
    What is to become of us, our children and our grandchildren. What sort of a world awaits them? Sadly a world of deceit, greed, cor
Hits: 92 1 Comment
Rate this blog entry:
Continue reading
http://www.dailytelegraph.com.au/news/nsw/billion-under-the-bed-taxpayers-the-losers-in-australias-great-black-market-cash-stash/story-fni0cx12-1227038033789   $10 billion under the bed: Taxpayers the losers in Australia’s great black market cash stash by:EXCLUSIVE Simon Benson National Political Editor From: The Daily Telegraph August 27, 201410:23AM AUSTRALIANS are “hoarding” an estimated $10 billion “under the bed” according to a landmark report revealing the extent of hard currency being removed from the nation’s cash economy. A further $15 billion in Australian currency, much of it presumed to be in $100 bills, is also being hoarded offshore by people seeking to legally hide or protect their wealth in the relative safety of the Australian dollar.  And drug dealers and gun runners are now also estimated to ­account for 10 per cent, or $6 billion, of the total cash issued by the Reserve Bank with the legitimate black market making up another 5 per cent.  A report for the Australian Payments Clearing Association (APCA) has revealed that despite the Reserve...
Last modified on
Recent Comments - Show all comments
  • MickyD1112
    MickyD1112 says #
    Come and get the $ under my bed whilst I still have a roof over my head!!
  • Aries
    Aries says #
    Anyone found with money under their mattress will be prosecuted and money will be confiscated
Hits: 105 2 Comments
Rate this blog entry:
Continue reading
This mob is fighting with us against the corruption of the banks. They are fighting to change the whole of the banking culture They will be getting my vote at the next election. Here is the link http://cecaust.com.au/main.asp?sub=info&id=contact.htm Both the major political parties Libs and Labs are supporting banks. This has got to change. Now we know why all the thousands of letter we have written to the Senators gets thrown into the bin. Joe Hockey and the rest of the mob, you are allowing the banks to get away with criminal activity. This is why the Aust. Federal Police won't help us.  ...
Last modified on
Hits: 67 0 Comments
Rate this blog entry:
Continue reading
"Shortcomings?"  More like criminala mctivity to me.  If it quacks like a duck then its a Mackers Special McMess...............Time for Royal Commission into Banks and ASIC.........................time for industry whistle blowers to come forward - we respect confidentiality!  Call me.   http://www.afr.com/p/national/inside_story_the_mess_macquarie_oOjQYHe2QuY5ApRUJNX7mL Inside story | The mess Macquarie made PUBLISHED: 16 Feb 2013 John Kehoe and Sarah Thompson   It seemed harmless enough at the time. Stockbrokers at Macquarie Group’s personal investment advisory business had been sloppy with their paperwork so the records of their dealings with private clients were far from best practice.  So harmless that Macquarie – including its head of banking and financial services, Peter Maher – didn’t see the need to draw the shortcomings to the attention of the Australian Securities and Investments Commission after they were first detected in 2008. Management believed the issues could be quietly dealt with behind closed doors and without the prying attention...
Last modified on
Recent Comments - Show all comments
  • Duped
    Duped says #
    Sneaky buggers aren't they, find an accounting company who will report what they want them to report.
  • Denise
    Denise says #
    Wait for the Government to say: "oops we did not see this Macker Mess coming!!!"
Hits: 126 2 Comments
Rate this blog entry:
Continue reading
CEC just called - 6000+ was early yesterday morning so the count will rise for they were still flooding in - Malcolm Fraser wrote one I believe pushing for Glass Steagall!    from Gladys.........................   http://www.cecaust.com.au/ 27th August, 2014 Public floods Financial System Inquiry with 6,000+ submissions—not happy, Joe The Australian public has overwhelmed Joe Hockey’s Financial System Inquiry with more than 6,000 second-round submissions, a massive increase on the 280 submissions made in the first round. The sheer volume of submissions sends a clear message: Australians are not happy with the state of the financial system, nor the direction in which the FSI is heading, evidenced by its interim report. Former ANZ Bank director John Dahlsen spoke for many Australians who have monitored the inquiry when he charged in his second-round submission, “The interim report has been prepared by bankers, on behalf of bankers, for bankers.” (Australian Financial Review 18...
Last modified on
Recent Comments - Show all comments
  • kddeed
    kddeed says #
    Here, here Aries, well said!
  • Aries
    Aries says #
    Just goes to show the public are becoming aware of the banking industries corruption. THIS IS JUST THE START JOE, THIS IS NOT GOI
Hits: 142 2 Comments
Rate this blog entry:
Continue reading
http://ochousingnews.com/blog/deflating-chinese-real-estate-bubble-destabilize-world-economy/ The deflating Chinese real estate bubble could destabilize the world economy 30 June 2014   Irvine Renter The Chinese inflated a real estate bubble more than ten times larger than the United States. Bursting this bubble could destabilize the world economy. I recently asked what would happen if the Chinese housing bubble burst. The implications for Coastal California’s real estate market is enormous as a crash in Chinese real estate would not just remove a component of local demand, it could turn Chinese buyers into desperate sellers. My sanguine attitude about the ability of lenders to maintain pricing through inventory restriction would change if desperate Chinese sellers began putting must-sell inventory on the market.  The problems in China go beyond our little niche in the real estate world. A deflating housing bubble in China could destabilize their entire financial system and disrupt the world economy.  Some in China want to...
Last modified on
Hits: 89 0 Comments
Rate this blog entry:
Continue reading
This is an amazing perception of whether Australia is in the grip of a property Bubble - from all interviewed you have five different answers...........go figure! WE know this is likely as we work at the coalface - the grass roots of consumerism whereby our members not reporting in ALL STATES OF AUSTRALIA the basic situation: "Dear BFCSA , we have concerns because we cannot sell our property for more than we paid in 2007."  So who is telling the truth?  Who do we believe?  RBA Gov. Glenn Stevens says a sheepish "maybe a little."  Sadly Mr Stevens did not tell the truth about Securency.  Oh well.    Most likely Philip Soos, Author of Bubble Economics  is on the money and understands the real situation...........  Read this latest This email address is being protected from spambots. You need JavaScript enabled to view it. Should homeowners be bracing for a dive?       9:11pm, Aug 25ROBERT FEDELE Advisor Editor/Reporter    5   Is Australia’s housing market overvalued by...
Last modified on
Hits: 95 0 Comments
Rate this blog entry:
Continue reading