Your Say = NO SAY

Comments that were made to the 'financial crisis' in a mainstream news media site, ninemsn.com were not published on the site. The sites disclaimer naturally states that it reserves the right to publish information. One of the questions posed was :

What do you think the banks should do?

Are you worried about the impact of the financial crisis on Australia?

The content of comments made were as follows :

There is NOTHING the government CAN or WILL do as this is an economy BEYOND the scope
of some miniscule Aussie penny watchers.

The depression of the 30's was an orchestrated event, by the financial elite.
(documentation today shows this to be very accurate). It was designed by the world's
largest banking families

It was designed to wipe out this middle class (which it did, and took over a generation to recover)
During this time the financial elite made LOT$ of MONEY, as the stocks fell and they bought up.
One of the most important commodities that went up (ten fold) was gold.
Officially the world's largest deposits of gold are held in London and N.Y, which are in the hands of the financial elite.

For those people in the know, and who are ca$hed up THIS is the BEST time.

The whole idea of this is for people to live in poverty, ie. be void of any savings.

During the depression of the 30's the financial elite 'bathed' (literally) in milk, and drove great big
guzzling Rolls Royces, whilst the people starved. These are documented facts, and pictures today
can be found, if you dig deep enough.

The mass media is in the control of a few individuals, in Australia, Packer, Stokes and Murdoch.
If political comments are uncomfortable (however true) they will NOT make the light of day to the masses.

This is generally TRUE of every government, even the ones who in theory say you have free speech

See comments on : "Your Say: Should the banks pass rate cuts on?"

Banks 'need to explain' rates position

The banks have refused to give any detail as to why they can't pass on the benefits of an interest rate cut, opposition Treasury spokeswoman Julie Bishop says.
The Reserve Bank of Australia is expected to hand down an interest rate cut of half a percentage point Tuesday, but the banks have indicated they won't be able to pass on the cut because of costs.
"The banks have clearly convinced (federal Treasurer) Wayne Swan that they need the benefit of the rate cut rather than passing it onto say small business borrowers or mortgage holders, but we don't have any of that detail as to why the banks cannot afford to pass on the benefit of an interest rate cut," Ms Bishop told ABC radio.
"The banks did complain of higher borrowing costs earlier in the year and increased their margins on the official cash rate by half a percentage point.
"That margin has been maintained and the banks went on to make a record profit throughout this year."
There were also mixed messages coming from Prime Minister Kevin Rudd and Mr Swan, Ms Bishop said.
"Given that Kevin Rudd is talking of the need to pump-prime the economy, for a $20-billion infrastructure fund, it's confusing when Wayne Swan says that it's more important to protect the banks' profit than stimulate the economy, when he's talking of an interest rate cut."
It's important that the banks remain profitable, but at a time when the economy needed to be stimulated, the question was how much of the cut the banks could pass on, she said.
"And we've heard very little from the banks."
Ms Bishop said the opposition's offer to sit down with the government on a bipartisan level to discuss the economic situation was rejected.
"So we are dealing with the available evidence and the available evidence shows that the banks are highly profitable and could afford to pass on an interest rate cut to those people who desperately need it."

AAP 6 Oct 2008

The banks DO NOT and will NOT explain anything to ANYONE. Whilst interset rates rise they are quick to pass on the cost to the consumer, BUT when they fall the same transaction takes twice as long.

Banks make phenomenal profits, and in difficult financial times make similar high profits.

Common interest rates that banks give in Australia can be 8%, whilst overseas interest rates given to the public of 20% are NOT uncommon.

Secret Money

Walter, Ingo. The Secret Money Market: Inside the Dark World of Tax Evasion, Financial Fraud, Insider Trading, Money Laundering, and Capital Flight. 2nd edition. New York: HarperBusiness, 1990. 377 pages.
This scholarly work is replete with numerous examples of slime that floated to the surface from the underground world of high-finance and illicit wheeling-dealing, which is why we put it in NameBase. It is well- written, tightly-argued, and very informative, alternating between statistics on the dimensions of the secret money market, descriptions of escapades that ended in prosecutions, discussions of how accounts are opened in places like the Cayman Islands, and matter-of-fact observations about the effectiveness of SEC monitoring and regulation.

One suspects, however, that if this book sells well off campus it's because readers want to know how NOT to get caught. Off-shore banking, tax shelters, insider trading, and the arcane world of Swiss financial privacy are treated in rich detail, while more difficult scams such as fraud and organized crime within the savings and loan industry are not treated at all. But then Ingo Walter, professor of business administration, probably finds it difficult to keep on top of the high-capital crime curve from his office at New York University.
ISBN 0-88730-489-3

Mum takes son to drug deal, cops pounce

An unsuspecting mother drove her teenage son to an alleged drug deal rendezvous in Sydney on Thursday where police were waiting.

The 19-year-old man from Bondi was arrested in the Ramsgate Street car park at North Bondi about 10.30am (AEST) during an alleged deal for 1,000 ecstasy tablets, police said.

Three men sitting in a nearby car were questioned but later released without charge.

His mother is not believed to have known about the alleged deal and is not facing any charges.

Following the teenager's arrest, a 26-year-old man, alleged to be a source for the drugs, was taken into custody at a house in Westmoreland St at Glebe.

He will face Newtown Local Court later Thursday, charged with supplying a commercial quantity of a prohibited drug and supplying an indictable quantity of a prohibited drug.

The 19-year-old has been charged with large commercial supply of a prohibited drug, which carries a maximum penalty of 20 years.

He is expected to face Waverley Local Court later Thursday.

Strike Force Dooley was established by the Surry Hills Region Enforcement Squad in May to investigate the supply of ecstasy in the eastern suburbs and distribution to inner-city club-goers.

During the operation, officers have seized ecstasy pills with an estimated street value of $110,000.

Surry Hills Region Enforcement Squad Commander Detective Inspector Gavin Wood said the investigation was continuing with further arrests likely.

"We are constantly targeting those people engaged in dealing illicit drugs and taking them off the streets," he said.

"Every drug arrest we make further disrupts the supply network and I can assure the community that we will only continue to step up our activities."

aap 2 Oct 2008

Why don't they also target the PRODUCERS of the drugs ?? !! ??

Hint: Well known areas like the Adelaide Hills and Griffith are primary producing areas of drugs.

Inmate loses appeal on prison murder

A psychotic prisoner who kicked a cell mate to death while in the "implacable grip of an urge to kill someone" has lost an appeal against his 18-year sentence.

Michael Allen Heatley, 32, was jailed after pleading guilty to the 2004 manslaughter of Craig Anthony Behr, 24, in the Long Bay Prison Hospital.

The NSW Court of Appeal has rejected Heatley's claims the sentence did not adequately reflect his guilty plea and placed too much weight on his previous criminal history.

Heatley suffered from chronic psychosis and was twice acquitted of armed robbery on the grounds of mental illness.

He smoked, sniffed and drank his dead father's ashes, and believed he was the racehorse Phar Lap.

When he kicked Behr to death Heatley was supposed to be in solitary lockdown, after telling Corrective Services officers he was having homicidal urges.

Heatley begged prison guards not to place Behr in his cell, and within an hour he was dead.

Sentencing Heatley in the NSW Supreme Court in 2006, Justice Anthony Whealy said "systemic and individual failures" on the part of prison officers had, in large part, caused Behr's death.

The 18-year-sentence accounted for the manslaughter of Behr and an unrelated armed robbery, committed in 2002 after Heatley escaped from prison on another offence.

NSW Chief Judge at Common Law Peter McClellan dismissed the appeal.

He agreed with Heatley's submission the two prior armed robberies, for which he was found not guilty on mental illness grounds, should not have been considered part of his criminal history.

However, Justice McClellan said it was merely one problem in an "otherwise complex sentencing task carried out by his Honour with great care".

"Having regard to the objective seriousness of both offences and the various aggravating and mitigating matters to which his Honour had regard and, in particular, allowing appropriate weight for the offender's mental health problems, I am not persuaded that the sentences imposed were inappropriate," he said.

"I am not satisfied that some other less severe sentence was warranted in law and should have been passed."

Justices Graham Barr and Derek Price agreed with Justice McClellan's ruling.

An inquest into Behr's death and the role of Corrective Services will resume next year.

It was adjourned in February 2005 pending Heatley's sentence and appeal.

With time already served Heatley will be eligible for parole in March 2016, at the expiration of his 12-year minimum term.


AAP 2008 2 Oct 2008