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Read or Condemn Yourself to Death by Ignorance

The newsletter for those prepared to look and see what is there.

No place for ostriches, snowflakes or those who blindly

bow to the unholy alter of tyrannical authority.

Wednesday 1st November 2017


Hope this finds you fit and well. If you’ve been around for a few decades you’ll get this one.

Did you hear what the father of the two flatulance aflicted daughters said after the plumber left?

“Thunderbirds, it’s all cisterns go!”

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!


Stop The Government Stealing Your Bank Savings

One month to stop the scam that is the APRA bank bail-in law

APRA crisis resolution bill has been introduced into Parliament; earliest chance for the government to push it through is the last week of November.

The bill is the long-planned “bail-in” legislation that the CEC first warned of in 2013, which aligns Australia with the Basel, Switzerland-based Financial Stability Board’s “Key Attributes of Effective Resolution Regimes”.

Bail-in is the bankers’ scam developed after the 2008 crash, to enable banks to continue the wild speculation that caused the financial crisis, but cover their gambling losses by seizing the savings of unsuspecting “mum and dad” investors and even depositors. Everywhere it has been applied it has ruined savers and destroyed confidence in banks.

Help to stop this bill! Contact your MP and Senators to: 1) tell them this bill has been introduced—most of them probably have little or no idea; 2) ask if they support the bail-in principle that banks should be allowed to gamble and cover their losses from the savings of their innocent customers and bondholders, or do they support the Glass-Steagall principle that savings should be protected by separating deposit-taking banks from speculation?

What is the bill?

The Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017. It gives bank regulator APRA sweeping powers to “resolve” a banking crisis. These align APRA’s powers with the Basel, Switzerland-based Financial Stability Board’s (FSB) “Key Attributes of Effective Resolution Regimes”, which include “bail-in”.

What is bail-in?

Bail-in is a scam. After the 2008 crisis, instead of returning to the Glass-Steagall principle of keeping banks and their deposits safe by separating them from risky speculation, the FSB schemed a way to allow banks to continue their reckless gambling, while claiming that taxpayers wouldn’t have to bail them out if they went bust. The result is bail-in, which “resolves” a failing bank by writing off, i.e. cancelling, what it owes to its unsecured creditors, which includes mum and dad investors and sometimes even depositors, to make the bank solvent on paper (liabilities less than assets). In other words, the bank’s innocent customers would be made to pay its gambling losses from their savings.

In Australia, due to an intense mobilisation by the CEC starting in 2013, APRA has so far shied away from “statutory” bail-in such as New Zealand has, known as the Open Bank Resolution system, which explicitly includes deposits. However, APRA has laid the foundation for “contractual” bail-in by allowing Australia’s banks to sell tens of billions of dollars’ worth of complex “bail-in” bonds to unsuspecting mum and dad investors. In a crisis, bail-in bonds convert into worthless shares in the failing bank, which will backfire by destroying confidence in the banks, as it has everywhere bail-in has been applied.

Why is the government in a hurry to get this bill through?

Because a new financial crisis is looming. When he introduced the bill, Morrison acknowledged the danger of a financial crisis, for which Australia’s banks are unprepared. “There are few greater threats to the economic wellbeing of the Australian people than a financial crisis”, he said. He emphasised that this bill must pass before the next crisis, saying: “The prudent time to strengthen crisis resolution powers is when the financial system is healthy”. A few minutes later Morrison hinted at the government’s fears of a collapse of the housing bubble—a truly nightmare scenario.

Since then, Robert Gottliebsen warned in the 26 October Australian that the Sydney apartment market has “cracked”, and on 27 October analyst David Lloyd of investment bank Citi foreshadowed house price declines of 20 per cent and an 80 per cent collapse in residential property sales. These reports coincide with rising alarm about the dangers of global debt, especially corporate and household debt, the massive bubble in the US stock market, and emerging threats in the $1,200 trillion global derivatives bubble.

What can I do?

Don’t let the government conspire with Labor to sneak this through. Morrison in his speech downplayed the bail-in aspect of this bill as “technical amendments … for the conversion of capital instruments”, clearly hoping to sneak it under the radar. The financial media is helping by not reporting it. Yet this is major legislation that has been years in the planning, going back to when the Treasury under the Gillard government issued a September 2012 consultation paper, “Strengthening APRA’s Crisis Management Powers”. In April 2013 the FSB noted of this legislation that “bail-in … legislation is in train in some jurisdictions (including Australia…)”.

To ensure they can’t sneak it through, contact your federal MP and at least the non-Liberal Party Senators in your state to make sure they know about it. You’ll be shocked at how many won’t!

Ask them:

Do you know about the APRA crisis management bill—the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017?

APRA is allowing and even encouraging the reckless banking practices, such as speculation on mortgages and derivatives gambling, that are leading Australia into a new financial crisis—do you support giving the same APRA sweeping new powers to manage the crisis it has caused? Do you support the bail-in principle of forcing a bank’s innocent investors and customers to pay for its gambling losses, or would you support a Glass-Steagall separation of Australia’s banks, to protect the savings of innocent investors and depositors by stopping banks from engaging in risky speculation?

If you can, try to meet your federal MP and Senators; otherwise, phone and email them—when you call their staff will ask you to put it in writing, so do both. If enough people do this, it will force MPs to pay attention and the government will not be able to sneak the bill through.

Click here for your federal MP’s contact details. One month to stop APRA bank bail-in law

Click here for the list of Senators in your state.

Click here to sign the CEC’s new petition: Global crash coming—Australia needs Glass-Steagall and a national bank.

What I Learned From Being at the Las Vegas Shooting

A great read!

The out-of-control shadow government in this country threatens the fabric and the future of the United States.
JFK Assassination

Not all has been revealed but another piece of the jigsaw puzzle comes to the fore disproving the official story.

Jury finds 7 wildlife refuge occupiers, including Ammon Bundy, not guilty on all counts
Refuge Occupiers Photos via Multnomah Co Jail

A vistory for the defendants and the trial by jury system.

Why does Catalonia want to quit Spain? It’s the economy, stupid
Catalonia Capital

Some very intersting data on aggregations of people and optimal community sizes...

Why, and why now? It’s easy to get lost in the mire of local explanations and recent historical factors, and Spain has those in abundance. They matter, and they may explain why Spain is the most confrontational of the struggles between separatist, nationalist and supra-national ambitions on this Continent. But the core forces lie much deeper and are in essence much simpler.

Attack The Day
Attack The Day

Attack it, Seize it and Hold it!

Wikileaks Releases Audio Tapes Implicating Presidents Bush And Obama Of Corruption.
Obama And Bush

We should not be surprised...

A new bee-killing pesticide - Sulfoxaflor - has just been approved in France
Ban Bee Killers

A new bee-killing pesticide - Sulfoxaflor - has just been approved in France and we don't have much time left to fight this decision!

The French Environment Minister can still stop this attack on the bees -- but we need a global outcry to get him to stand up against the pesticide industry!

Let’s get behind banning these bee killers while we have the chance! Can you also sign and share this petition?


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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