‘Innovations that will make the human race thrive on Earth, saving its finite resources from extinction, are something we should embrace without a second thought. We get our food from plants and an…
Source: Desert Farm Grows 17,000 Tons Of Food Without Soil, Pesticides, Fossil Fuels Or Groundwater
According to a media release from ‘Citizens Electoral Council’, questions about our banking well-being require answers.
Perhaps serious considerations about a reconstruction are due!
Readers chance to get up-to-date with the real financial crisis.
Hard questions for Australia’s banks
Following are the questions that Australia’s banks should be asked when they front up to Parliament this week:
- What is your over-the-counter (OTC) derivatives position, and what is the ratio of your derivatives exposure to equity, and to deposits?
- [To CBA:] Why did you suddenly stop disclosing your true derivatives position in 2012, after a period of rapid growth when it went past $3 trillion? What is the full, face-value derivatives exposure of your bank as of right now?
- In a Lehman Brothers-style chain reaction meltdown of your derivatives exposure, would you remain solvent?
- If, as is claimed, your derivatives “hedging” is in “safe”, plain-vanilla derivatives, why has your derivatives speculation grown so rapidly since the 2008 global financial crisis, while banks around the world have been aggressively reducing their derivatives exposure?
- Why did total Australian bank derivatives expand by a record $6.2 trillion in just the June quarter of this year, to an all-time high of $38 trillion—around 23 times Australian GDP (and many more times total bank assets and deposits)? What undisclosed event in the financial system sparked such a massive increase?
- With house prices in Sydney and Melbourne more than nine times annual household income, compared with the historical ratio of around three times, if and when the market snaps under the increasing lack of affordability and prices collapse by 40-50 per cent, would your bank survive?
- Why are you targeting unsuspecting retail investors—mum-and-dad retirees—to buy risky hybrid securities that other jurisdictions such as the UK forbid banks from selling to retail investors? Are you doing it because you need to raise capital in a hurry, and if so, why?
- Were the bad products the sales staff in your wealth management division sold to customers, which have caused massive losses and ruined many investors, designed to shore up the underlying position of your bank at the expense of your customers? Did your bank have a separate commercial interest in any investments that were sold?
- How much do you love the major political parties, Labor and the Liberals/Nationals, which since Hawke, Keating and Howard colluded to deregulate you, privatise the Commonwealth Bank so your private cartel wouldn’t have any competition, and thereby unleash you for your present profit-gouging spree? When you add up all of the donations you give to the major parties, compared with your profits, can you believe how cheap they have been to buy?
Deutsche Bank is looming as the next Lehman Brothers, but is far more interconnected and therefore will have far greater consequences for the global financial system. When Australia’s banks begged the Rudd government in October 2008 for guarantees in order to survive, their combined derivatives exposure was around $14 trillion. Just eight years later, it is now $38 trillion!
In March 2014 the Citizens Electoral Council toured Parliament with the former Deputy Director of Japan’s Ministry of Finance, Daisuke Kotegawa, who successfully managed a derivatives crisis in the Japanese banking system in 1999, by over the course of a weekend closing out the Japanese banks’ derivatives so that the crisis did not spark a global meltdown. Kotegawa spoke to Australian MPs and the office of then-Treasurer Joe Hockey of the need for Australia and the world to adopt a Glass-Steagall separation of commercial banking from all other financial activities, including investment banking, insurance, stock broking and wealth management.
With another global crisis looming around Deutsche Bank, Kotegawa has reiterated what all governments should do to secure their banking systems, which the politicians who question Australia’s banks this week should heed:
- Break up their banks along Glass-Steagall lines;
- Send criminal bankers to jail—much more effective in stopping bad behaviour than fines;
- Set and announce a target date to cancel all bank derivatives, so that banks can begin to “net out” their positions and the cancer of derivatives speculation can be excised in an orderly fashion.
Glass-Steagall is the number one financial issue in the world. People and increasingly more political leaders are recognising that it is the only way to protect the public from the next collapse of the global financial system, but the London and Wall Street bankers who don’t want to give up their scam of being able to gamble with depositors’ money are fighting to stop governments from enacting it. This is a fight we can and must win if Australia is to survive economically—join the CEC!
This article, titled ” Big Pharma suffers another major blow as study debunks high cholesterol myths, admitting statins are totally worthless ” is from ‘Natural News’, by Julie Wilson, staff writer.
It’s been a tough few weeks for Big Pharma, as three major studies have now completely disproved the effectiveness of its most profitable drugs. Last week, a huge study published in The Lancet admitted that the risks of antidepressants in children and teens far outweigh the benefits, as the drugs routinely increase suicidal behavior. Out of 14 antidepressants, only one was shown to improve depression better than the placebo.
Now, scientists are reporting that cholesterol drugs, which 15 million Americans are prescribed, are also completely worthless. A group of international researchers published a study in the BMJ Open journal that found no link between what’s known as “bad” cholesterol and death as a result of heart disease in individuals over 60 years of age.
In fact, the results found that 92 percent of people with high cholesterol actually lived longer. The best way to achieve and maintain good heart health is not through medications but through healthy lifestyle habits.
The third major study in a matter of days to discredit the pharmaceutical industry, comes from the Journal of American Physicians and Surgeons, which found that giving children multiple vaccines at once is unsafe – a complete contradiction to the vaccine narrative shoved down everyone’s throats by government, drug companies and the media for decades.
Read the complete details here.
‘ Natural News ‘ is a source of an enormous amount of information of great importance to our health and well-being.
For at least a decade we have been told by the UN/IPCC, by most government media and officials, by many politicians, and by the Green “charities” and their media friends that “the science is settle…
Source: Climate Science is NOT Settled