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BFCSA
MORTGAGE
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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.

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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.

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Subscribe to this list via RSS Blog posts tagged in Australian Government
In April 2013 The Australian Federal Treasury released it’s views on changes that it wants made to Disclosure Requirements in the National Consumer Protection Act 2009. Read below to see what existing consumer rights Treasury intends should be stripped away from all borrowers: ‘ ISSUE 1- REMOVING THE REQUIREMENT TO PROVIDE THE INFORMATION STATEMENT 1.15. Lenders are currently required to provide an Information Statement of the debtor’s statutory rights and obligations to borrowers; see section 16 of the Code and Form 5 as prescribed by Regulation 70. Previous Treasury consultations suggested that there was  little point in retaining this requirement (noting that the Information Statement  includes disclosure of the credit provider’s membership of an External Dispute  Resolution scheme, with this disclosure replicated in the Credit Guide). 1.16. Treasury therefore considers that the requirement to provide the Information Statement should be repealed.’ Borrowers may lose all rights they had by law to obtain the key information which...
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  • doyla66
    doyla66 says #
    They seem to forget that without the people depositing and borrowing they have no power. Everyone should take all their money out
  • doyla66
    doyla66 says #
    Yes We gave them the power - now we are taking that power back. We are braver than government and others who are afraid of upset
  • doyla66
    doyla66 says #
    Sneaky! Sneaky! Sneaky! BFCSA is causing grief to the banks so now they are going to try to sneak this stuff in through the bac
  • doyla66
    doyla66 says #
    THEY'RE THE BANKSTER'S MATES LISA. The banks would feel they have more chance two idiots doing it then anyone else, so they will b
  • doyla66
    doyla66 says #
    So Medcraft and Swan want to leave us with a little stinger to remember them by? Politeness prohibits my expressing what I think
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We live in a remarkable country. And Aussies are a remarkable bunch. We have this wonderful ability to form a powerful force when we band together, that can overcome tremendous odds and right shocking wrongs. The ANZAC spirit. Being battlers from all walks of life, we tend to get our heads down and get on with the job. It takes a lot to upset us. It is only when the problems start harming our families in huge numbers that this “Aussie Phenomenon” occurs. Australia is indeed approaching a watershed moment in history. We need to step back and look at the big picture. The very fabric of our society; the things we value most, are being threatened. It is time to act. We are talking about corruption and greed, injustice in business, finance and politics and lack of proper accountability by those in authority. The result is the gap between rich...
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  • doyla66
    doyla66 says #
    We Australians, have been most fortunate to have had the good life but which has caused us to become complacent whilst allowing th
  • Denise
    Denise says #
    All decent hard working Australians now have a [email protected]
  • Denise
    Denise says #
    Mushrooms no more!! [email protected]
  • Denise
    Denise says #
    Thanks Brian. It's because of people such as yourself and others behind the scenes that have made this moment possible. We are i
  • doyla66
    doyla66 says #
    nothing happens unless someone makes it happen.. Well done fellow BFCSA members for making Australian Voice happen
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20 September 2012 Page 1 of 11 SENATE ECONOMICS REFERENCES COMMITTEEInquiry into the post-GFC banking sector Questions on Notice taken by ASIC at the public hearing on 8 August 2012 Question 1 (Hansard Ref: p. 55) Senator CAMERON: When you say ASIC will act on issues if they are raised, theevidence we had from the previous witness [Denise Brailey] was thatcorrespondence had gone to ASIC seeking some support on the FirstMac andStreetwise issues and no support was forthcoming. Is that correct? Mr Kell: I am not in a position to comment on individual matters. What I can sayis that ASIC had some complaints brought to it about low doc loans. Theseinstances have almost exclusively, from my understanding, all concerned loansmade prior to the GFC and prior to the introduction of the national consumercredit protection regime in July 2010. In some cases they involve matters where afinance broker has been charged by...
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  • doyla66
    doyla66 says #
    If the bank or broker was part of this false bankurptcy this is jailable offence. Jail those corrupt bankers & brokers.
  • doyla66
    doyla66 says #
    Lying to Parliament is a CRIMINAL OFFENCE. The liars must be prosecuted. Justice must be upheld
  • doyla66
    doyla66 says #
    ASIC just keep on being the "Willbees" who will wait until someone else gets the ball rolling before they issue any statements tha
  • doyla66
    doyla66 says #
    I have had two rejects of action from ASIC over fraud considering the fact of the statement made by the chairman of ASIC: Mr. Gre
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BY GUY GOLDRICK BANKWEST CLASS ACTION GROUP   02 Dec, 2011 04:00 AM   AN article in Queensland Country Life reported that Bankwest had called in receivers on the properties owned by Richmond Mayor John Wharton. He is not alone so much so that I have formed a class action group over of Bankwest's actions since they were bought out by CBA. The outcome is many hard working Australian families and businesses have lost everything because of the corporate greed of CBA and the need to be seen to be doing the right thing by the Government. I would put losses by these families and business at over half a billion dollars. We believe there have been backroom deals done between the Government and the CBA on this. The huge winners have been CBA and the receivers who feed off the carcasses of the Australian families and businesses that CBA/Bankwest has...
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  • doyla66
    doyla66 says #
    "Graham Samuel has said since that he felt "pressured" to sign off the acquisition." A big gaping question needs to be asked at t
  • doyla66
    doyla66 says #
    HBOS - Proof of Mortgage fraud based in England by brokers Neighbouring Halifax and Lloyds TSB branches outside Crossgates Shopp
  • doyla66
    doyla66 says #
    "Several members of Quayside's staff had criminal records for embezzlement". I wonder what we would find amongst the staff of our
  • Denise
    Denise says #
    I spoke with Guy this week. The situation regarding Bankwest and the sale of Bankwest to CBA has stirred up some very muddy water
  • doyla66
    doyla66 says #
    They definitely will make more progress working together and will make more impact on the media and the government if they do go t
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  By Caroline Dann | 12/10/2012 6:30:00 AM | In an unprecedented move, the Irish government will pass laws encouraging banks to substantially cut homeowners' debts. The move, aimed to reduce foreclosures and help thousands who are struggling, is being closely watched by the US to see if it is a viable preventative to a housing crash. Critics argue unscrupulous borrowers will simply take advantage of the bailout and stop making payments altogether. Before we get too excited, the government is merely making a suggestion: paying off or substantially reducing the debt will not be 'enforced' according to Ireland's justice minister Alan Shatter. Too bad.   ...
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  • doyla66
    doyla66 says #
    I agree, Arree. With the Aussie Dollar over priced and interest rates falling Steve Keen's Jubilee is timely. His ideas would pr
  • doyla66
    doyla66 says #
    As i have commented here before.. try Professor Steve Keen's idea for a Modern debt jubilee Personally I too am inspired by his v
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by: Peter van Onselen From: The Australian September 29, 2012 "Well done Penny, for not blowing that figure out even further in the two months that was left in the financial year. Swan should think about a post-parliamentary career writing scripts for a new series of Yes Minister. If he continues taking himself seriously, the words would flow on to the page with ease." http://www.theaustralian.com.au/opinion/trickery-helps-balance-a-budget-but-to-what-end/story-e6frg6zo-1226482733945  ...
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David Collyer was right. Denise's evidence and assertions are based in many years' research. There is no room for speculation in the black and white of her evidence. It's FRAUD. What is more it is intentional, premeditated and well organised systemic fraud. How can the regulators and the politicians deny the facts and keep their credibility? They can't. Further evidence has been revealed since the initial hearing at the Senate Inquiry. It underlines the even greater need for a Royal Commission. The Australian public want the truth. Investors want the truth. Borrowers want the truth. Our international reputation is also under scrutiny. Surely it is part of the job description of any chief regulator or parliamentary representative to supply informed, well-researched answers not off the cuff comments based on assumptions and their own opinion in order to protect their jobs! They are paid handsomely to supervise and ensure the stability our...
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  • doyla66
    doyla66 says #
    Thankyou Carol, Andy and Peter. Our parliament is handicapped by the past and by their party political histories. Those days are
  • doyla66
    doyla66 says #
    What an Increditable post Lisa, every one of our weak and gutless politicians,heads of APRA, ASIC,COSL, FOS and Federal Police sho
  • doyla66
    doyla66 says #
    Watch this Space: Vote[1]LisaMartin Vote[1]DeniseBrailey - perhaps sit opposing sides "broom the middle"(save the worthy/repentant
  • doyla66
    doyla66 says #
    Politicians and bank executives take note: KNOWING & FAILING TO ACT IS A FAR GREATER CRIME. If you work in a bank and can provide
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Posted by on in Political Blindness
Audit Committee The AOFM Audit Committee is a forum for the review of audit and related issues. It approves the AOFM’s internal audit plan; reviews audit reports and advises on action to be taken on matters raised by AOFM’s auditors; advises on the preparation and review of the AOFM’s financial statements; reviews operational risks and endorses the plans for implementation of fraud controls and awareness training. The Audit Committee membership at 30 June 2011 comprised: Peter Warne, independent member of the AOFM Advisory Board (Chair); David Lawler, former Group Auditor, Financial Controller of Institutional Banking and Executive General Manager of the Commonwealth Bank of Australia. Audit Committee member of the Defence Materiel Organisation, the Australian Trade Commission, the Australian Agency for International Development, the Australian Sports Anti-Doping Authority and National ICT Australia; Elizabeth Clegg, Manager, Government Investment, Risk and Debt Policy Unit, the Treasury; and Jason Dakin, Manager, Compliance, AOFM. Invited...
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  • doyla66
    doyla66 says #
    Conflict of interest is a curious animal. Apparently if a committee member declares conflict of interest or if it's obvious it's n
  • doyla66
    doyla66 says #
    History repeating or cycles repeating (circa 1931 when 3 banks failed due to overzealous practices coming home to roost?). H m m m
  • doyla66
    doyla66 says #
    All I can say - talk about asking Dracula to look after the blood bank! Is the government also trying to say their is no CONFLICTS
  • doyla66
    doyla66 says #
    JJ:BFCSA should consider accessing sensitive AUS Gov.'info' thru Freedom of Information(FOI) processes. "AOFM Audit Committee, adv
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Posted by on in Political Blindness
  Published 12:05 PM, 20 Sep 2012 inShare http://www.businessspectator.com.au/bs.nsf/Article/AOFM-sells-1b-of-Treasury-notes-YB3X2?opendocument&src=rss AAP The Australian Office of Financial Management has sold $1 billion of Treasury notes in two tranches. The first tranche was worth $500 million and matures on December 14, 2012. The second tranche was worth $500 million and matures on January 25 2013. The first tranche of the notes were sold for a weighted average yield of 3.3542 per cent, attracted bids that totalled $1.255 billion, giving a coverage ratio of 2.51. The second tranche had a weighted average yield of 3.2788 per cent, received bids totalling $1.990 billion and had a coverage ratio of 3.98. ...
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  • doyla66
    doyla66 says #
    I just hope our superfunds aren't the mugs buying these bonds to keep things artificially "balanced". That's our money those pillo
  • doyla66
    doyla66 says #
    Lisa is right into this one. Great talent for great finds.
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Posted by on in Political Blindness
12:28 AEST Fri Sep 14 2012         The Australian government has sold $500 million of June 15, 2016, Treasury bonds. The Australian Office of Financial Management (AOFM), which conducts bond auctions on the behalf of the government, said the bonds were sold for a weighted average yield of 2.6846 per cent. The sale attracted bids totalling $2.475 billion, giving a coverage ratio of 4.95....
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  • doyla66
    doyla66 says #
    I'm not sure how deep Wayne Swan's financial knowledge goes. Raising capital by selling assets or even worse creating debt to pro
  • doyla66
    doyla66 says #
    But last night on APAC - Swan and Gillard were going on about how Australia has a triple AAA rating and we are so great (despite t
  • doyla66
    doyla66 says #
    Something is certainly going on down in Canberra ... very tight lipped on information too ...
  • doyla66
    doyla66 says #
    Lisa, you have cracked open where the government possibly has cold feet.
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Posted by on in RMBS SECURITISATION
September 19, 2012 11:15AM       THE Australian government has sold $800 million of April 21, 2024 Treasury bonds. The Australian Office of Financial Management (AOFM), which conducts bond auctions on the behalf of the government, said the bonds were sold for a weighted average yield of 3.4575 per cent. The sale attracted bids totalling $2.890 billion, giving a coverage ratio of 3.61. Read more: http://www.news.com.au/business/breaking-news/aofm-sells-800m-of-april-2024-bonds/story-e6frfkur-1226477162740#ixzz2746708nP...
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  • doyla66
    doyla66 says #
    Great work Lisa..!! Keep it up.
  • doyla66
    doyla66 says #
    Thanks, John. I thought this might be relevant. I'm waiting on the transcript for the hearing today.
  • doyla66
    doyla66 says #
    Very good Lisa. You have a great knack. I checked Melbourne news sites, Age, Herald Sun too. None have found this story yet
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0 0 0 0 0 0 These excerpts are taken from a Submission to Parliamentary Inquiry.  28 April, 2012 Senate Standing Committees on Economics PO Box 6100 Parliament House Canberra ACT 2600     Dear Sir I Madam, I wish to make a submission within the terms of reference above; regarding an incomplete and misleading valuation of a property, commissioned by the Commonwealth Bank of Australia, which was subsequently purchased under mortgage to the CBA. I am now trying to sell the property, and it is worth nothing like its valuation. This has caused me to be unable to discharge the mortgage, for which the CBA is now rejecting any form of responsibility.   Consequently, the valuation over-estimated the value of the property and provided a misleading basis for decision making regarding {a) the merits of purchasing at all, and (b) at the specific price that could be regarded as reasonable...
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  • doyla66
    doyla66 says #
    Don't bank with any of them. Try societies like the Teachers Credit Union, Nurses Credit Union, etc.
  • doyla66
    doyla66 says #
    and the bank also slugs us for the valuation and revaluation fees as well...
  • doyla66
    doyla66 says #
    My partners property was valued by the bank earlier this year at $200k less than the valuation in 2008 at the time he refinanced.
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  29 Jun 2012 - Good reading and video at: http://barnabyisright.com/2011/06/29/rba-says-our-banks-are-stuffed-in-other-words/#comments   Yesterday, RBA Assistant Governor Guy Debelle indulged in some MOPE.   Management Of Perceptions Economics.   Lies, deceit, and propaganda, in other words.   But for those with an ear to hear, and an inclination to check the “authorities’” claims, what he really did – unintentionally – was to give us a heads up.   That our Too Big To Fail banks (TBTF) are going to get bailed out, sooner rather than later.   Go grab a modest quantity of your favourite beverage, and settle in.  You are about to learn – in detail – why we cannot trust a word the banksters say.   Ready?   Now as expected, the mainstream press all lazily parrotted the “everything’s fine, move along, nothing to see here” headline that Mr Debelle wanted. Here’s a good example, from the nations’ “premier” newspaper:...
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  • doyla66
    doyla66 says #
    "why is the Australian taxpayer on the hook to backstop the banks?.." Why not change this scenario around in favour of the tax p
  • doyla66
    doyla66 says #
    Lisa, 'you're a woman after my own heart', but would you be employable to the press? Hmm, let me think......computer says, "no" r
  • doyla66
    doyla66 says #
    A big read Lisa. Keep them coming.
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National Anti-Corruption Plan  Corruption is a serious global problem, which has devastating impacts for individuals, families, communities and regions. It discourages investment and distorts markets, leading to depletion of resources for important community services like schools, hospitals and roads. In combating corruption, the Australian Government takes a leadership role at the international, regional and domestic levels. At the international level, Australia is a party to both the UN Convention against Corruption and the OECD Anti-Bribery Convention. Australia is a key member of the G20 Anti-Corruption Working Group having participated in the negotiation and development of the G20 Anti-Corruption Action Plan. In cooperation with China and Indonesia, Australia is currently leading a review of G20 priorities to strengthen international cooperation against corruption, and is also working on the development of the G20 Guide to Mutual Legal Assistance. Furthermore, Australia is an active member of the APEC Anti-Corruption Working Group and the...
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  • doyla66
    doyla66 says #
    Judging by this document - Australia is failing badly. RBA corruption and bribes, Australian Banks allowed to profit from fraud.
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I rise tonight to talk about what I consider to be the greatest oxymoron in Australia at the moment—that is, ethical banking. I wish to relate some of my experiences during the early 1980s when my family were involved in a foreign currency loan in Swiss francs. We drew down the loan in January 1985. Shortly after that, we saw the depreciation of the Australian dollar. There was only one way to protect yourself from those loans and that was to hedge your loan. I went to my bank manager, Peter Neil—a good man who lives out here near Goulburn these days—and requested that I hedge my loan. He informed me that I could not, that that would change our currency and you could do that only at rollover periods. The rest is history because Mr Neil was wrong. The bank had not trained their staff properly and it led to...
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  • doyla66
    doyla66 says #
    Bank Managers,used to be pillars in the community,revered, respected.Mr Williams by virtue of the fact your bank manager never sig
  • doyla66
    doyla66 says #
    You're right about banks being sales, sales, sales. That's what happened in the US as well. I've read about and listened to inter
  • doyla66
    doyla66 says #
    Honesty, my guess is that the bank manager would have been told by the bank legal people not to sign his statement.
  • doyla66
    doyla66 says #
    You are a good man for speaking the truth Senator John Williams. I urge all politicians to support him and have the integrity & m
  • doyla66
    doyla66 says #
    Thnak you Senator Williams you give us hope!
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Posted by on in Bankers A Law Unto Themselves
Often when you tell people your story and plight with the banks or to the media- they comment - but you signed the papers. My next question to them is - so you think it is okay that fraud has been committed and that the Banks are profiting from it? Are you saying that the banks are above the law and should not be accountable to the rules set by the law of this country.  No matter which way you look at it - a crime has been commited and it needs to be investigated. Isn't that why we have laws for?  Crime is crime. No sugar coating of it or exceptions. When put that way to most people - they understand better and agree - if fraud has been committed - it needs to be investigated. So if you speak to the media - make sure you ask that question. Remain focused...
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  • doyla66
    doyla66 says #
    I am interested!
  • doyla66
    doyla66 says #
    Based on what I've read about the other political options this is probably a good time to kick off a new party. Who is the brillia
  • Denise
    Denise says #
    Hands up those who wish to be part of new party? We have a brilliant leader, an exciting name. I cannot be leader as it would de
  • doyla66
    doyla66 says #
    http://www.bfcsa.com.au/index.php/entry/bfcsa-demands-to-federal-government
  • doyla66
    doyla66 says #
    We should call for a Suspension of Normal Business in the House, and possibly a joint sitting to attend to the crime and corruptio
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"A Royal Commission into the Australian Banking Sector is our democratic right. To deny us that right is truly unAustralian."   There are many strong arguments in favour of holding a Royal Commission into Banking with wide terms of reference.  One of the side effect of the Royal Commission is its capacity to bring the issues into every Australian home through the main stream media. This in turn will generate far greater awareness of the serious anomalies and inherent risks within the Australian Financial Sector. It may also answer the questions for so many Australians whose lives have been smashed by the deregulated "free market" Australian Financial Sector, directly and indirectly, including the big ones: Why weren't we told? How could this be allowed to happen in Australia? Consumer protection isn't for just for the elderly - it benefits all Australians. We've been badly misled by those entrusted to protect us,...
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  • doyla66
    doyla66 says #
    Yes, infestation of "Mainstream" banking Full-Doc products must be a game changer & raise the necessary eyebrows , if not, the cur
  • Denise
    Denise says #
    Thanks for your kind thoughts Hugh. I met with Geoff in Canberra and also other members and they support our efforts and our peti
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
  • doyla66
    doyla66 says #
    Good idea Hugh. UNHAPPY BANKING also has good evidence about the BANKS FRAUDULENT activities.
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
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Colin Chaplin
"Federal Parliamentary Secretary for Agriculture Sid Sidebottom, whose northwest Tasmanian marginal electorate of Braddon is home to Premium Fresh, warned that banks cracking down hard on rural borrowers had played a part in the company's difficulties." Comment: Federal and State assistance to rural growers - why not ask the excessively profitable BANKS to back off and let growers get on their feet again? - find other markets, adapt their business to changing Australian marketplace, find solutions to supermarket chains exploitation driving farmgate prices down, get paid by their own creditors. The writing is on the wall and this is just the beginning of this phase of Australian financial meltdown. Unintelligent and bullying Banks have wrecked lives, farms, rural communities and destroyed access to generations of agricultural wisdom in Australia for long enough - all in the name of GROWTH, MONEY and POWER. Kick the blood suckers out NOW. A new financial...
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