Bank Failures in Australia
Who REALLY owns the Reserve Bank of Australia?May 15, 2012
omf.gd ←← You won't want to miss this high impact, edge-of-your-seat exposé of the men behind the wizard's curtain that pulled the strings on the global financial crisis and what you can do about it. =================================== [June 12, 2011] PODCAST CONTENTS The Reserve Bank is a foreign ADI. A "foreign ADI" means a body corporate that: (a) is a foreign corporation within the meaning of paragraph 51(xx) of the Constitution; and (b) is authorised to carry on banking business in a foreign country; and (c) has been granted an authority under section 9 to carry on banking business in Australia. Prior to 1959 the Commonwealth issued and printed its own money and had control of the printing of money. However after the 1959 Reserve Bank Act, the Reserve Bank was established as a stand alone independent foreign ADI, which took over the printing of money and lent the money it printed to the Commonwealth at interest. So instead of the Commonwealth printing its own money, we have a foreign body corporate printing our money and lending it to the Commonwealth which the Commonwealth needs to pay back! "RESERVE BANK ACT 1959 - SECT 77 Guarantee by Commonwealth The Commonwealth is responsible for the payment of all moneys due by the Bank" (Source: www.austlii.edu.au (The commonwealth of Australia is paying money is borrows back to the stand alone bank) "RESERVE BANK ACT 1959 - SECT 27 Bank to be banker for Commonwealth The Bank shall, in so far as the Commonwealth requires it ...
Grain train failure at Warrenheip bank (Tuesday 22nd Nov, 2011)May 09, 2012
XR557 fails behind XR552, half way up Warrenheip bank. After several attempts to start it, the train is reversed back into Ballarat station. Later the locos are detached and sent over to Ballarat East yard where a mobile mechanic crew looked at XR557. Further unable to start XR557 the locos where latched back onto the train and XR553 and XR550 were sent to rescue the train.
Australian banks "STEALING"fom AustraliansDec 07, 2011
Big four banks fail to pass on rate cut - ABC News
90 seconds at 9am: US confidence up; Greek bond failure; Irish bank shock; NAB to buy AXA Aust/NZAug 27, 2010
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with BNZ, including news US consumer confidence rose in March to its highest level since May and US house prices rose, according to the Case Shiller index. But markets were still nervous overnight after more bad news emerged from Europe. Standard and Poor's cut Iceland's local currency credit rating again and a Greek bond offering failed dismally. Greece offered a new 12 year bond but received bids for less than half the 1 billion euros offered. Meanwhile, in Ireland, the scale of the property and banking disaster was laid bare overnight when the government revealed Ireland's big banks needed capital injections of 31.8 bln euros. Anglo Irish Bank will need a big government bailout while Bank of Ireland and Allied Irish will also need capital injections The Finance Minister there described the situation as 'truly shocking'. Meanwhile, National Australia Bank, which owns BNZ, has finalised a deal to buy Axa's Australian and New Zealand operations for A$4.6 bln, but it still needs Australian Competition authority approval.
Jim Rogers - What Happens if You Let Banks Fail?Mar 20, 2012
For the latest Jim Rogers, go to JimRogersBlog.com As far as the stimulus goes, things will get better for the people who receive the money. For everyone else, it will be worse. The only thing that has worked in the past was to let the failures go bankrupt so that more competent people can come in and buy up their assets. These politicians all think that they have to do something. They think that if they pass around enough money, then they'll be able to get enough votes to win the next election. Ben Bernanke has never been right one time. If you take any advice from Bernanke, then you are going to go broke extremely fast. Geithner is just as bad. These are the guys who caused the problems, and now they are the people who are supposed to solve the problem. There is no such thing as too big to fail. There were plenty of banks who were waiting in the wings looking at the mistakes these big banks were making. They were waiting for them to go bankrupt so that they could swoop in and gain market share. That didn't happen because the government bailed out the bad banks. It wasn't necessary. You should get rid of any remaining US dollars that you have in your portfolio. Real assets like cotton or zinc or gold are much better. These are real products that people use. No one knew what dot coms were, and people were putting billions of dollars into them. Now the money will be in real things. Central banks are the most responsible for this - if you insist on placing the blame in one ...
Dr John Hewson: Multiculturalism - success or failure? At ANU, March 2011Nov 05, 2011
Australia's multicultural agenda has been under the spotlight. While migrants became an election issue, recent comments by European politicians about the failure of multiculturalism seemed to resonate with Australians. In this video, economist and Former Leader of the Opposition, Dr John Hewson, talks about Australia's vision of multiculturalism and whether we can create a government and policy structure that can succeed where others have failed. This video was recorded at The Australian National University on 17 March 2011. Dr John Hewson is an economic and financial expert with experience in academia, business, government, media and the financial system. He was a member of parliament for eight years, four of which were as Leader of the Liberal Party and Federal Coalition in Opposition for four years. Since leaving politics in early 1995, Dr Hewson has run his own private investment banking business and was, until December 2004, a Member of the Advisory Council of ABN AMRO, having previously been Chairman of the Bank. In addition he is Chairman of Osteoporosis Australia and Arthritis Research Taskforce. He is also a Director of a number of other companies. Dr Hewson also writes an opinion column for the Australian Financial Review and is a Panellist on the Sky News Agenda program. This lecture is being hosted by the Freilich Foundation and The Federation of Ethnic Communities' Councils of Australia (FECCA). FECCA is the peak national body for all multicultural ...
Taking a Positive Look at FailureApr 11, 2012
Before he co-starred with Olivia Newton-John and long before he ran the biggest bank in Australia, David Morgan got a life lesson that was every bit as valuable as it was brutal. Recorded: April 30, 2009
We Are Worse Than Sodom Part 1 of 7Oct 24, 2010
The UK, US,Canada, Australia, Israel, Judah are worse than ancient Sodom. This is the lesson from the Bible. A devastating punishment is now due. This is what we are seeing right now with the various crises which are rapidly escalating. For a long time we sowed the wind worldwide,now we are reaping the whirlwind.
Dreadful Market PerceptionsJan 16, 2012
omf.gd ←← You won't want to miss this high impact, edge-of-your-seat exposé of the men behind the wizard's curtain that pulled the strings on the global financial crisis and what you can do about it. =================================== [April 8, 2011] PODCAST CONTENTS ★ securities transactions that fail, ★ Lehman Bros on a stick in Australia over failing to advise risks on CDOs.
Chinese and Australian monetary easing still ahead; Japan's struggle continuesApr 06, 2012
In this Asia Focus video Andrew Robinson, Correspondent for Saxo Capital Markets in Singapore gives insight into recent Chinese data and what it tells about the all-important economy and the chances for monetary easing soon. He also comments on poor trade data for Japan and the Reserve Bank of Australia's failure to cut rates at its first meeting this year.Chinese CPI and PPI data for January produced mixed results. Excessive spending related to the Chinese Lunar New Year celebrations undoubtedly played a significant role in the much higher than expected CPI data. PPI came in on the soft side and is positive news as it indicates there is reduced pipeline pressure. The combined effect being though that the stance of the People's Bank of China on monetary easing ahead (particularly considering the continued debt saga in Europe) is likely to be unchanged.Japan posted its biggest trade deficit since 1963 in 2011 and flash numbers for January indicate more negative numbers are on the cards this year too. The Japanese economy is believed to be hurting so much that Japanese exporters are looking more and more into manufacturing goods abroad.While the outcome of the Reserve Bank of Australia's first policy meeting of this year shocked, in that no rate cut was announced despite high expectations, it is still largely deemed that more rate cuts will come, though the market probably won't get too carried away about the size nor timing next time around says Andrew.See more of Andrew's ...
ABN Newswire - Australian Market Report of October 14: Profit-taking Ahead of US Corporate EarningsAug 21, 2010
US stocks closed mixed overnight as investors took profit ahead of the wave of corporate earnings offset the news of an acquisition in technology sector. Dow index ended slightly lower while the tech-heavy Nasdaq composite was up on Cisco's deal to purchase Starent Networks. The Australian market yesterday finished higher as the foreign funds inflows supported the financials and resources sectors. The benchmark S&P/ASX200 index rose 45.9 points, or 0.97 per cent, to 4785.7 points, while the broader All Ordinaries index gained 44.3 points, or 0.93 per cent, to 4789.8 points. Key Economic Facts and Figures National Australia Bank survey showed that business confidence in Australia fell four points to +14 points in September, significantly reversing the 8 points surge in August. The fall in confidence was heavily concentrated in manufacturing, wholesale and retail sectors, while the only sector to strengthen was construction which it said was probably related to the federal government's A$20 billion infrastructure program. On Wednesday, the Westpac-Melbourne Institute survey of consumer sentiment for October is also released. The index soared 1.7 per cent in October, to 121.4 points, the highest since June 2007. The rise in consumer confidence has been helped by the low interest rates and a surprise fall in the jobless rate. M&A News Rio Tinto (ASX:RIO) has doubled its stake in Canada's Ivanhoe Mines (TSE:IVN) to 19.7 per cent. The company completed the purchase of about ...
Economic Stimulus PackageFeb 23, 2012
angryaussie.wordpress.com It seems the US economy is totally screwed. I'm doing my bit by buying a shirt from 1938Superman's online store www.1938superman.com No, he didn't pay me to do this. In fact, I paid full price including postage. But I love the shirts (I got 2) and the prices are great. Go check him out, you can personalise some of the designs like I did.
NOHAB 'Helga' No.1437 on Cowan Bank - Full-VersionApr 30, 2012
NOHAB-built, former Danish State Railways (DSB), GM-powered diesel locomotive conducting load trials with a scheduled container goods train on the steep gradients of Cowan Bank near Hawkesbury River, north of Sydney, NSW, Australia. 11-Oct-06. The train locomotive, Goodwin-Alco built 4497 and the rear 'banking' locomotive, Goninan-built 4717, were not providing power during this load trial. THIS IS THE UN-EDITED VERSION. A higher-quality edited version of this clip is also uploaded (in AVI).
R766 "Super R" Hudson Steam Loco on Ingliston Bank: Australian TrainsMay 16, 2012
In 2000 West Coast Railway converted former coal burning R class4-6-4 express passenger steam locomotive R766 into an oil burner with double lempor exhausts for use on their Warrnambool passenger services alongside R711. Both locomotives had been nicknamed "Super R's" and the objective of the upgrades was so they could haul the Warrnambool service to a diesel schedule. This video features R766 hauling it's relaunch special as a "Super R" up the famous 1 in 50 Ingliston Bank between Bacchus Marsh and Ballan on 11 March 2001. The train was operated by Steamrail and ran to Ballarat. Unfortunately R766 suffered a significant failure to the motion gear on the drivers side only a month later in April 2001. By the time repairs had been completed in 2004, WCR had ceased operating and the loco operated back to Newport light engine with R711. R766 has now been converted to standard gauge and is located at Branxton in the Hunter Valley. It is yet to return to operation, but is intended for use on tourist trains in the region. © 2001 James Brook
RBNZ Governor Bollard cautions banksNov 26, 2011
Intro Hello. I'm Bernard Hickey with the daily briefing from interest.co.nz... Today, we'll look at some concerns the Reserve Bank has about the way banks are funding their lending and we'll check out what the ultimate CEO of our largest banking group, ANZ National, thinks about the global credit crunch. Story 1, But firstly, we look a bit more closely at what Reserve Bank governor Alan Bollard said in Paris on Friday night about how our banks fund their lending. Essentially he gave them a little bit of a warning that they're borrowing short and lending long, which meant they were a little bit vulnerable if suddenly global investors stopped lending to New Zealand. Borrowing short and lending long is generally a bad idea. It means that if suddenly depositors wanted their money back in a hurry then banks would have to liquidate their loans. Generally banks and finance companies try to match the maturities of their lending and borrowing. Currently the banks are taking in a lot of short term deposits from investors worried about finance companies and other investments. They're generally for 6 to 12 month terms. They're also borrowing at shorter terms on wholesale money markets. Then on the other side the banks lend to homebuyers for 20 or 25 year terms. The banks rely on the fact that many people pay back their mortgage early when they sell a house or move to another mortgage provider. These mortgages actually have a real term closer to 18 months to 2 years. The Reserve Bank ...
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