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National Australia Bank, Westpac, bailed out by USA reserve.

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posted on Oct, 12 2011 @ 04:43 PM
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Gday,Found this little gem. You would expect this to have been all over the newspapers,but as usual it went under reported.

Why do they need to apologise? Well, two years after the global financial markets collapsed, a secret bailout of two of Australia’s biggest banks has been revealed. This is pretty big news. Or rather, you’d think it would be pretty big news. But as you can imagine there’s almost uniform silence from the banks and the mainstream press.


This is a very interesting article and well worth the read,Americans see where else your money is going?
This is just wrong on so many levels i dont know where to begin.
Enjoy the read.
www.moneymorning.com.au...




posted on Oct, 12 2011 @ 05:19 PM
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reply to post by iceblue20-12
 


... That is indeed, a gem.

As an Aussie, this is even more shocking. We have been led to believe that we have one of the safest banking systems in the world and these two banks are part of the 'Big 4' which many would think to be untouchable. Despite all the checks and balances we have in the banking sector, the big 4 have so much power here that the MSM wouldn't dare to report on this, either from the point of view of their own interests or from fear this would generate. Same goes for the government... this one would be kept well under wraps for fear of sending our economy into meltdown.



posted on Oct, 12 2011 @ 05:24 PM
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I'm with Commonwealth and Commonwealth replaced the bailout with raising interest rates on borrowings over and above all the other banks.
I'm really not overly surprised to hear this information, honestly, its all so corrupted. The CEOs of those banks have still been getting paid their big bonuses.



posted on Oct, 12 2011 @ 05:24 PM
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reply to post by 17sok
 


Yes,we are lead to believe that our banking system is "well placed" by our award winning treasurer.
This shows not only the BS put out,but also shows how weak and volatile our banks are.
Dump the big 4,community banks and credit unions are a better alternative.



posted on Oct, 12 2011 @ 05:28 PM
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Originally posted by surrealist
I'm with Commonwealth and Commonwealth replaced the bailout with raising interest rates on borrowings over and above all the other banks.
I'm really not overly surprised to hear this information, honestly, its all so corrupted. The CEOs of those banks have still been getting paid their big bonuses.


They never go without their fat wads of cash bonus'.
Even when they under perform they still get them!
Just another expense placed upon the people.



posted on Oct, 12 2011 @ 05:30 PM
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It's amazing that broke countries can bail out other broke countries so easily.

Oh wait.

Central Banks like the Fed are private, I see now....



posted on Oct, 12 2011 @ 05:39 PM
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hmmm, released a day after the carbon tax passes?
Im starting to believe Julia was nothing but a stooge, to throw the carbon tax into circulation and this looks like her way out of politics.

This would explain the interest rate increases.. the fee increases.. the atm increases..

Im still under the idea that we need to drag the banking CEO's out of their homes, stand them under our lamp posts and hang them until they are knocking on deaths door, asking him for a dollar!



posted on Oct, 12 2011 @ 05:40 PM
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reply to post by iceblue20-12
 


Thanks for sharing.I did get a little of this about a year ago from an American article.Quite concerning is it not?
Just like Obama's Nobel prize,Wayne Swan's World Treasurer award is a joke! Lieing through his teeth about the state of the Australian economy.



posted on Oct, 13 2011 @ 02:51 AM
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That article is pretty poor really. He has assumed that NAB and Westpac were insolvent based solely on the money received without any others facts backing it up. Its more likely that both NAB and Westpac saw the chance to get some cheap funding and grabbed it.

If he wants to claim they were insolvent he will have to provide some evidence. Pretty disappointed in Sayce he is usually better than that.

EDIT: just realised that article is old, i thought it was new info but its the same as stuff i have seen before. My comment stands though, i dont believe any further evidence against NAB or Westpac has been forthcoming
edit on 13-10-2011 by zvezdar because: (no reason given)



posted on Oct, 13 2011 @ 03:15 AM
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Originally posted by zvezdar
That article is pretty poor really. He has assumed that NAB and Westpac were insolvent based solely on the money received without any others facts backing it up. Its more likely that both NAB and Westpac saw the chance to get some cheap funding and grabbed it.

If he wants to claim they were insolvent he will have to provide some evidence. Pretty disappointed in Sayce he is usually better than that.

EDIT: just realised that article is old, i thought it was new info but its the same as stuff i have seen before. My comment stands though, i dont believe any further evidence against NAB or Westpac has been forthcoming
edit on 13-10-2011 by zvezdar because: (no reason given)



I don't know what is worse, a foreign bank acting shrewdly and getting cheap money on behalf the US taxpayers as part of the bailout funds, or genuinely needing the money because of insolvency?

Either way you cut it or slice it, it stinks!



posted on Oct, 13 2011 @ 03:18 AM
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reply to post by zvezdar
 


The article is well sourced,and i would believe anything they say over our current government.
SMH business report carry's the same story.
www.smh.com.au...


While it may be from last year,i didnt know about it and iam sure many would like to know about it.

edit on 13-10-2011 by iceblue20-12 because: spelling

edit on 13-10-2011 by iceblue20-12 because: spelling



posted on Oct, 13 2011 @ 03:25 AM
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reply to post by Vikus
 


From what our government would have you believe all is good here,"well placed to weather the storm".
If they needed cash,why not the Australian reserve? Raises more questions really.



posted on Oct, 13 2011 @ 03:29 AM
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reply to post by Agit8dChop
 


Was released in dec but went very under reported.Only changes to the laws in the USA involving the reserve bank bought this out,otherwise it would all still be under the table.



posted on Oct, 13 2011 @ 03:30 AM
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I was reading about this back in Dec on the site called Talk Finance in the Secret Banking Business thread. An interesting read.
Secret Business Banking
edit on 13-10-2011 by LexiconV because: (no reason given)



posted on Oct, 13 2011 @ 03:32 AM
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reply to post by 13th Zodiac
 


Every time swan speaks he reminds me of the Italian prime minister, All is good



Wonder who he wined and dined for his award.



posted on Oct, 13 2011 @ 06:35 AM
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I just read the Sydney Morning Herald article about this.
source
Here's the quote from it that is the real surprise.

"A New York-based entity owned by Westpac borrowed $US1 billion from the Federal Reserve, pledging more than $US3.3 billion in collateral."

If you have to put up $US3.3 billion to borrow $US1 billion, how risky are you as an investment.
That's pawn shop rates.
No, I am all wrong. Wayne Swan (Treasurer) tells us the are some of the safest banks in the world.
Will be interesting when property prices fall and banks start seeing how dodgy some of their lending practices were.



posted on Oct, 13 2011 @ 08:03 AM
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Wow thats insane.
This has been well hidden from the public. Great pick up.
Our govt is in debt to the US and we sell our produce and minerals to China.
The US could use this debt to pressure our government into sanctioning to China....well maybe? Strangely and maybe just coincidental, Gillard pulled the carbon tax agenda out of the hat directly after returning from the US.
Well, it is a conspiracy site.



posted on Oct, 13 2011 @ 12:55 PM
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reply to post by boony
 


Its cool,conspiracy is what its all about.
I see the carbon tax as Austerity dressed up!




posted on Oct, 13 2011 @ 01:03 PM
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reply to post by Colbomoose
 


I bet theres more to this,those figures just dont work do they,or maybe they work out fine if your an award winning treasurer!
How do Americans feel about bailing out Aussie banks when our country has its own wealth?we are supposedly in a good position,we send heaps of money off shore in aid,corrupt payments etc etc.
Certainly all that i have told about this drop the jaw for a moment.



posted on Oct, 13 2011 @ 04:45 PM
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reply to post by iceblue20-12
 


I agree. There must be more to it. Where is this money coming from and what is the collateral? This is like kids writing pretend notes - here, have a billion, but only if you promise to give me something worth 4 billion.



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