One Of Australia’s Biggest Banks Caught Committing Mortgage Fraud On Elderly Couple

An elderly couple in Western Australia found themselves to be victims of a mortgage fraud that ultimately cost them about $200,000 and their marriage, when a door-to-door salesman on behalf of a real estate developer pushed them toward an overpriced home purchase – and one of Australia’s “big four” banks, Westpac reportedly modified the couple’s disclosed income in order to get them a loan that they shouldn’t have qualified for.
Brailey concluded that the banks, government and FOS were “all in unison like a big bloody club trying to convince the public that these people deserve what they get because they’re greedy, sophisticated investors.
An analyst from UBS, Jonathan Mott, has estimated that as much of $500 billion worth of Australia’s $1.7 trillion mortgage book could be made up of similar types of loans, often referred to as “liar loans”.

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Don’t Miss the Signs of Another Slow-Motion Meltdown

Venezuela is an economic and human rights tragedy. Turkey, Argentina and Indonesia, all major emerging-market economies, are in complete meltdown. India, Malaysia, Brazil and Mexico are in the midst of currency collapses. South Africa is in recession. China’s growth is slowing and its debt is unsustainable. The trade war between the U.S. and China is starting to take its toll and will get worse.
Note from editor: Since next year there will be an election in Indonesia, beware that those in power (the local and foreign elites) might exploit this fragile economic condition to further their political agenda. The economic situation today in Indonesia mimics that of 1998 financial crisis.

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Ten Years After Lehman’s Collapse: What caused the Crash of 2008 is now shaping our post-modern 1930

Great article from Yanis Varoufakis, an economist and ex Greece Minister of Finance. Since 2008 financial crisis, politicians went into overdrive to shift the losses from those who created them (the bankers) onto the shoulders of the innocent (middle class debtors, waged labourers, the unemployed, those on disability payments and the taxpayers who could not afford to set up off-shore accounting units). In Europe, in particular, one proud nation was turned against another by political elites determined to disguise: (A) a crisis caused by an alliance of Northern and Southern bankers and other rent-seeking oligarchs, into (B) a clash caused by the profligate Southerners and ant-like Northerners or as as crisis of over-generous German, Greek, Italian etc. social welfare systems. As a result, racism and generalised misanthropy is now triumphing in the United States and, especially, in Europe.

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Evidence for “Informed Trading” on the Attacks of September 11, 2001

Just after September 11th 2001, many governments began investigations into possible insider trading related to the terrorist attacks of that day.  Such investigations were initiated by the governments of Belgium, Cyprus, France, Germany, Italy, Japan, Luxembourg, Monte Carlo, the Netherlands, Switzerland, the United States, and others.  Although the investigators were clearly concerned about insider trading, and considerable evidence did exist, none of the investigations resulted in a single indictment.  That’s because the people identified as having been involved in the suspicious trades were seen as unlikely to have been associated with those alleged to have committed the 9/11 crimes.

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