Are the Banks on the skids.

[billy the kid]

https://www.abc.net.au/news/2019-05-09/ ... d/11056136

Not long ago the ANZ Bank excitedly announced that they were prepared to grant home loans on a 10% deposit.
This obviously was an attempt to corner the market.
This was after the Banking Royal Commission had handed down its decision/recommendations.
Today we learn that, depending on the postcode that you wish to buy in, you may be required to stump up a 30%
deposit on the house you wish to buy.
This, according to the Banks, is so as you wont have to pay mortgage insurance.
On tuesday, the RBA gutlessly left interest rates on hold again for the 33rd month...

What does this tell me...
The Banks are skint...they are teetering on the edge of a cliff, looking over the freakin edge...
Meanwhile, the NZ Reserve cut interest rates by .25%..however NZ Banks are only passing on
a percentage of that....
In other words...the banks have no wiggle room whatsoever, and to coin a phrase....
..they are between a rock and a hard place....
Billions of dollars in mortgages are now coming off interest only loans, and borrowers are now having to stump
up the interest as well as the principal....many of these loans would be under water....(negative equity)
This is a freakin train wreck....
But of course, if a Bank goes bust, they have the bank bail in legislation to fall back onto...
APRA will activate the bail in without hesitation, and depositers funds will be used to rescue the bank...

Thanks to Joe Hockey for this fantastic legislation....passed in the middle of the nite, when there were only 7 Senators to vote... But when Bob Katter tries to separate the banks with his Glass Steagall legislation .....the subject of which is being inquired
into by Senator Jane Hume at the moment (an ex banker)..obviously the inquiry will be torpedoed by Hume as she continues to supress serious examination of banking issues...
Coincidentally, this inquiry was scheduled to be held at the time of the election, so as attention was diverted from
the inquiry to the election....who woulda thought.....
See the link for how the bail in works....
This is another reason why the coalition is going to lose this election...punters everywhere know about the contents
of this link....and blame the coalitions back stabber Hockey for giving APRA the go ahead to use our money to bail out the banks..
This has already happened in Greece and Spain will be next...but I digress....

https://bradjamesmatthews.com/australia ... l-in-laws/

[Bobby]

The ANZ are crooks - I'm involved in a dispute right now with them.
I won't go into the details.

[billy the kid]

https://www.aph.gov.au/Parliamentary_Bu ... ubmissions

This link allows anyone to download and read some of the submissions that have been made.
(Some pundits are of the opinion that the repeal of Glass Steagall in 1999 in the US was the catalyst for the GFC
in 2008.)
We need Glass Steagall to protect our deposits....
BTW.....just read an article which states that the NAB has closed almost 2000 of its 2800 auto tellers.
In Nov 2016 Citibank became the first bank in Australia to stop taking cash at their branches....
Why arent we told this by our politicians...
We are just ants...living in disguised slavery.....

https://www.abc.net.au/news/2019-01-08/ ... s/10696902

This is to prepare us for a cashless society, where the banks will be able to deduct "fees" from our bank accounts
and whilst maybe calling it a "fee" it will really be negative interest rates...which are coming soon...
If there is no cash, and everyone simply possesses digital funds, the banks can do as they please...
You cant withdraw, as there is no cash...everything will be digital....
As always, we will be at the mercy of the banks....
Banks will continue to close as we head towards a cashless society...
Dont forget, the coalition refused to have a banking royal commission 23 times...
Of course, back then Turnbull was the PM....an ex banker....

[sprintcyclist]

They have been a poor investment for many years.
I am an investor.

the market is always right.

[billy the kid]

https://www.zerohedge.com/news/2019-05- ... -attack-or

Dont need cash in Sweden...Australia next??....