Wow!!! Wow!!! Wow!!!
Thank you, Nods.
As Aussies know, and perhaps others, there has been a so-called Royal Commission into the banking industry, here, and many skeletons have come out of the closet, leading to a tightening of lending practices. This is being blamed for the recent decline in real estate prices, most notably in Sydney and Melbourne, the two largest cities (about 4M each).Except this is the tip of the iceberg… The scale of fraud and carefully planned and orchestrated deceit of the consumer is almost beyond belief.
Watch this video. Denise Bailey, founder of the Banking and Finance Consumer Support Association (BFSCA), spills the beans in a very big way.
Australia has experienced continuous economic growth, without a recession, for some 26 or 27 years, supported by the mining boom and by the growth in real estate prices. Except those real estate prices are now patently ridiculous by global standards when compared with household incomes, and the household debt levels are amongst the highest in the world. The following graph illustrates it well.
Of course, it’s unsustainable, but those participating in a bubble such as the well known historical tulip bulb frenzy and the more recent Bitcoin bubble believe it will go on forever. This time it’s different… Except it never is.
The role of an investment allowance encouraging home owners to leverage their existing property asset(s) into investment properties is well known. But the scale of the systemic fraud inside the banking system isn’t.
How about a loan application system that automatically works out what somebody’s income needs to be to support the loan and then inserts that into the form? Or children deleted from the family automatically, so the outgoings can be made to line up? Or the ship deckhand who became a captain on his form, so his false income could make sense? And this is hidden from the mortgagee because mortgage brokers fill out all of the forms…
I recently saw a report saying that Australians are now the richest per capita of any country in the world. This is entirely based upon false real estate valuations.
I have been saying for at least two years, maybe longer, that Aussie real estate prices could fall by 50%. I now think that’s conservative.
Australia has been set up to go the way of Argentina, Chile, Brazil and other South American countries. The great harvesting of Australian assets by the global elite has been set up. Well, they already own the mining companies, so they have cornered most of the revenue streams, as they have done around the world. They conduct this “haircut” of the general population every few years (it’s called a recession), though it can be more extreme, as it was in 1929-39, when they really clean up. I think we are looking at one of those in the next few years globally, and it has already begun.
Most people are asleep at the wheel and and none more so than the average Australian.
Australia’s economic growth has been supported by two things – mining exports (there’s still farm exports) and building construction, fuelled by the real estate price boom. China’s economy is slowing and this will accelerate, and when this loan zoo begins to unravel…
Generally, real estate prices are a lagging economic indicator. In Australia, they are falling before the general downturn has begun to be visible elsewhere (apart form the recent falls in stock market prices). This, in itself, telegraphs what is about to happen to Aussie real estate prices.
It might be 6 months before the true panic selling of Aussie real estate begins. The swag of interest only loans are only just beginning to hit the dates when they need to be converted to interest and principal – at higher interest rates on declining valuations… It will be a bloodbath. And the dividends and the stock prices of the 4 Aussie banks underpin the superannuation industry that ostensibly underpins the retirement of most Australians…
And unbeknown to most Aussies, bail-in legislation was introduced on February 14 this year, as it has been around the world for these coming times. If you have funds in the bank, expect to lose a fair swag of them.
I’ll say it again. Australia is headed down the same path as Argentina, Chile and Brazil before us. But this process is global. The United States is already a third world country. They just don’t understand it, yet. But they will very soon…
If you have not prepared for what’s unfolding, please do so.
The DOW has broken its 200 day moving average, a key indicator that it’s now a bear market. It was down 800 points on Tuesday and another 800 on Thursday before it recovered. There is an inverted yield curve in US Treasuries, an almost 100% reliable indicator of a coming downturn. But this is no average downturn.
And what’s going on in the banks here is all planned. You think they are independent of the global elite? If so, then I have this exquisite piece of beachfront for you. In Antarctica. Not to be missed…
I have explained at length how our world is controlled via satanic practices of paedophilia and child sacrifice. If you’re not across this, use the search field on my blog.
And in amongst this, I am very optimistic. These arseholes think they are going to finally control all of us on a very deep level (and the encryption banning legislation passed overnight in Australia, buried in the morass of party bickering, as is usually the case, is a key part of this effort), but it is my well informed view that they will fail in their attempt. May it be so…
Richard
Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com
