12th December, 2018
Bankers prepare for crisis but people want solutions
As the OECD warned of an Australian housing crash
triggering a bank crisis, the Bank of England-conceived Financial
Stability Board (FSB) launched its final push to ram
through its global bail-in regime before the oncoming crash.
The FSB's November annual report assessed the compliance
of G20 jurisdictions with the program to steal people's savings
to save the banks, finding that "Implementation of the
reforms is not complete and it remains uneven. It is critical
to maintain momentum and avoid complacency", the report
demanded, to achieve the "cross-border cooperation"
and "trust" required "to preserve an open and integrated
global financial system". Translating bankers' speak, that
means saving the current rotten financial order.
Articles include the following:
- When RBA is talking money-printing, brace for a massive crash!
- Housing forecasts turn dire as reality sinks in
- APRA law is bail-in! Amend it to exclude deposits, now!
- Explosion of calls for bank separation
- French demonstrations oppose 'Robin Hood in reverse' policies of government and EU
- Climate science reality check
- Trump baffles with new contradictions on arms control
- Watch Denise Brailey: Australian Bank Mortgage Fraud Explained Part II—this is the scandal that will bring down the Australian economy!
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11th December, 2018
When RBA is talking money-printing, brace for a massive crash!
The Reserve Bank of Australia won’t admit they are contemplating a mega-crash, but that’s what it means when they publicly announce they have the option of Quantitative Easing (QE)—money-printing.
And it also means that they are not concerned about shielding the Australian public from a crash, but with propping up Australia’s too-big-to-fail banks so an Australian crisis doesn’t trigger contagion in global banks and derivatives markets.
Deputy RBA governor Guy Debelle used a speech on 6 December to the annual Australian Business Economists dinner to send a message to the banks that, with falling house prices and economic storm clouds gathering, the central bank is ready to ride to their rescue.
According to the 7 December Australian Financial Review, the plunge in house prices is “absolutely something we are paying attention to”, Debelle said. “This is not a situation we have seen before—it is uncharted territory.”
He claimed the lesson from the GFC is: “In a crisis, go fast and go hard. Don’t die wondering.” Specifically, he foreshadowed further reductions in the official interest rate that has been unchanged at a record low of 1.5 per cent for a record 28 months. This is already an extraordinary admission. Cutting the interest rate to 3 per cent during the GFC was regarded as an emergency measure—to consider dropping it lower than the current record low is desperation.
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