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Read or Condemn Yourself to Death by Ignorance

No place for ostriches, snowflakes or those who blindly bow to the unholy alter of tyrannical authority.

Wednesday 24th May 2017


Hope this finds you fit and well. Here is a bunch of what flittered through my mind or crossed my digital desk over the last week. I hope you get something from it!

Do Big Five banks fear levy will expose derivatives danger lurking beneath their books?

The Big Five (Big Four plus Macquarie) banks are frantically trying to get most or all of their derivatives obligations excluded from the government’s levy on their liabilities.

The government has said the bank levy applies to derivatives, the financial bets that far exceed in size all other trades in the financial system. For instance, while Australia’s GDP is just shy of $2 trillion, the derivatives contracts held by Australia’s banks amount to around $35 trillion. Globally, official BIS figures record derivatives at around US$500 trillion (compared with US$50 trillion world GDP), but as there is so much dodgy accounting involved, others estimate them at US$1.2 quadrillion (US$1,200 trillion).

According to James Eyres in the 15 May Australian Financial Review, Westpac, ANZ and NAB have told the government that the levy should only apply to so-called “netted” derivatives positions, while CBA has said it should not apply to derivatives at all; Macquarie, true to form, is not making its submission to the government public.

These arguments betray real panic. “Netting”, for instance, is the ruse banks use to explain away the risks involved in derivatives gambling. They deduct, from what they owe on derivatives contracts, the amount that other banks owe them, to claim that the multi-trillions in contracts represent just a few billion in liabilities. While it may be legitimate to “net” transactions between two parties, it is bogus to apply it to derivatives. It can be compared to splitting a restaurant bill—easy among a few people, but what about a few thousand?

The bubble of derivatives speculation is extremely complex, involving millions of contracts interlinking banks all over the world. What a bank is owed on derivatives contracts by its counterparties is contingent on many other banks in the daisy chain being able to honour all of their obligations; if one of those banks fails, as Lehman Brothers did in 2008, the daisy chain of obligations can explode and the entire derivatives trade can melt down. And when it does, it is not the “netted” figure that banks have to pay, but the full, so-called “notional principal” liability in the derivatives contract. For this reason there have been numerous derivatives disasters in recent history which have wiped out entire banks and whole chunks of the financial system, including Barings Brothers in 1995, Long Term Capital Management in 1998, and of course Lehman Brothers in 2008.

The growth in derivatives speculation by Australian banks has been extremely rapid since the 2008 crisis, more than doubling from $14 trillion to $35 trillion. These contracts are held “off balance sheet”, and three of the Big Five—CBA, NAB and Macquarie—have stopped disclosing their full multi-trillion dollar derivatives exposure, revealing only the much smaller, tens of billions “credit equivalent” exposure instead. It is a scandal that this is allowed, especially after the 2008 crash, which proved such derivatives accounting to be fraudulent. As Financial Instruments Specialist Pauline Wallace of accounting giant PWC said in the 4 November 2008 Sydney Morning Herald, “I’ve always regarded it [derivatives accounting] as a bit of a magic trick. Magicians come to parties, and they make things seem to disappear. The risk is somewhere, but you never knew where,” she said.

The bank levy, if the government insists it apply to each contract, will force them to account for their full liability—both a massive accounting task, and potentially much more expensive for the banks than the initial calculations of what the levy will raise. This will actually test how real the banks’ profits are, which, given their heavy derivatives gambling, are suspiciously high in an Australian economy that is actually collapsing, losing productive jobs and industries left, right, and centre.


The bank levy is an attempt by the government to repair its budget, but it will not repair the big Australian banks, which are heading for collapse from their dangerous speculation in derivatives and real estate. Only a Glass-Steagall separation of the banking system, which breaks up the Big Five banks into stand-alone commercial banks with deposits that are kept separated from investment banking, insurance, stock broking, wealth management and other financial services, will protect the Australian people from catastrophic banking collapse.

The Citizens Electoral Council has—since 1993!—relentlessly exposed the derivatives danger in the Australian and global financial system, and since the 2008 crash has fought for the Glass-Steagall solution to fix the banking system. All Australians are naturally concerned about their financial security, and that of their loved ones, but the current system has become such a casino that the only way to protect your own security is to fight for Glass-Steagall to protect the whole nation. To do so, join in and support the CEC’s Glass-Steagall campaign.

Click here for a free information package on Glass-Steagall for Australia, including the brochure “Australia sleepwalking into ‘economic Armageddon’”, and a DVD explaining derivatives and their danger to the economy.

Click here to join the CEC as a member.

Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.

Click the read more button to sign the CEC’s petition: Break up the big banks now—pass Glass-Steagall!

Warning: You Might want to Delete your Instagram Account Immediately after Reading This

For Instagram afficionados.

Words Of Wisdom
Words Of Wisdom

Too Cheap
Too Cheap

Wars Can Be Prevented By Truth
Wars Can Be Prevented By Truth

More on the Results of Chemtrails

From Ken Trail

“I own a 20 acre tree farm and have been observing and learning about trees for the last 20 years, I also constantly look for dead standing and recently fallen natural dead trees for fire wood and about 6 years ago many of us started to notice this exponential pattern occur and trees exhibiting symptoms never before seen. After observing documenting researching and joining tree groups we began to put it all together. After talking to arborists and the DNR (department of natural resources), who lie and continue to hide the data, some people sent out tree core samples and we see the same results as we found in rain water and snow. Aluminum oxide is a desiccant and systemic intake effects the tree’s Cambrian layer from up taking water into the leaves. So in live trees with no known obvious disease such as oak wilt or bore beetles, termites, etc., we see bark just peeling and falling off like the tree was stuck in a microwave oven. The leaves have brown burnt spots like acid hit them, pine needles should be lush and green and smell like pine by May with pine sap inside when you snap them in half, instead they are all brown and dry and dead.

Comparing old elder tree samples to saplings we see the aluminum oxide levels go from .05ppm in 1999 to 3700.00 ppm in 2017. That same data is found world wide in remote areas of forests and non industrial areas in snow and rain and now even inside honey bee and inside deer antlers. So not only is the shit they are spraying in airplane trails killing us it is now showing its effect on all living things with chemical toxins, it is also reducing photosynthesis in plants and vitamin D in mammals. Also by them spraying to block the sun what they are doing is actually magnifying the suns Uva and Uvb, ultra violet beta and alpha (radiation) rays like a magnifying glass and cooking us furthering global warming out if control.

Also we use to spray an aluminum oxide herbicide at the golf course as well as other nasty shit like fungicide, pesticide and winter mold grass fertilizer and mold inhibitors and the same symptoms I seen on weeds and pond plants is identical to the leaf damage and bark damage we are seeing in perfectly healthy trees. And again it’s not just big old trees every baby sapling has the same effect on its bark, hard dry cracking falling off bark and covered in lime green white aluminum mold. No bugs or birds will even touch these trees. Also aluminum oxide is not only a desiccant (sucks up water) it’s also extremely flammable, this the massive forest fires in the west and Alaska in past years. It usually takes a few years for disease or a parasite to kill a tree, the tree fights back and heals itself or birds or other insects eat the bad insects etc, nature has a balance. But now we are seeing not just one or two or three but several hundred trees per acre with this same thing the bark just drying up and falling off. If you examine the wood, like I have there are no insects, disease or termites. And if u cut this wood up and let it “season” it will not turn grey and harden like normal cut fire wood used to. Instead it turns to white mushy spongy shit like styrofoam and begins to mold. And the mold is some new insane shit that's white and orange and green. Unlike anything ever seen before."


Until next time,
dream big dreams,
plan out how to achieve them,
be continually executing your plans,
enlist people to your causes,
travel and/or read widely, preferably both,
all the while observing what you observe
rather than thinking what you are told to think,
think well of your fellow man,
take time to help your fellow man,
he sorely needs it and it will help you too,
eat food that is good for your body,
exercise your body,
take time to destress,
and do the important things
that make a difference -
they are rarely the urgent ones!



Most of the content herein has been copied from someone else. Especially the images. My goodness some people are talented at creating aesthetics! The small bits that are of my creation are Copyright 2014-2017 © by Tom Grimshaw - ALL RIGHTS RESERVED.

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