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Wozza16.04.16 5:53 pm
The hypocrisy of the LNP captured in a few words on a T Shirt.
The Saturday Paper had the headlines:
No royal commission as Turnbull’s Liberals in deep with the banks
Conservatives against a banks royal commission argue it would damage the economy – because of the criminality it would reveal.
Further to this Great Australian Bank Swindle that the Liberals have kept the lid screwed down so tight that if anyone messes with it, well I reckon they would be assassinated.
I would advise the forum attendees to attempt to open up the Google web-site then if they are able to tally up the percentage ownership of Australia’s Big 5 Banks. (I have incorporated both the good Macquarie Bank(?) and the bad Macquarie Bank, yes there 2 Macquarie Banks) All the bad business and shit business and huge losses etc, are transferred to the bad Macquarie Bank.
The good(?) Macquarie Bank business is the one that does all of its deal making and charging their mind blowing fees for getting a deal agreed to by both parties.
An interesting example of this good (?) Macquarie Bank was in the manner they had tipped the Hobart Airport sale on its head when made aware of the intention by this Tasmanian State government wanting to sell this State owned infrastructure.
This is the deal that saw the Macquarie Bank charge somewhere between 60-70 million dollars for their cunningly schemed hugely ramped up valuation, of well over 300 million dollars, then their engagement in this new found hugely overvalued scam-erosity (but we will call it a readjusted sale price) sale, so of course they quickly readjusted their first announced engagement fees and had created these to be proportional to the newly appearing high valuation.
The massive lift in fees etc that would have been achieved by the 120 million sale was now more than triple to sell the same Hobart Airport.
Their fees according to the earlier valued sale price of some 120 million, soon rose to somewhere in the range of 300 plus million, which in turn was funded by the State government draining the Retirement Benefits Fund cash reserves.
Now you must understand that the only tangible currency in this whole shindig was the financial Reserves of the Retirement benefits Fund.
it is important to realize that not a dollar of the RBF funds remained in Tasmania at the conclusion of this sale.
Now I have mentioned all this historical scam-erosity by the Macquarie Bank is that they term themselves as, an Australian Bank.
So for starters, each Australian Bank has a huge portfolio of shares in each of the other, so in effect each Australian Bank has a substantial share-holding in the other Australian Banks.
The link below is to do with the subject of who owns Australia’s Reserve Bank. Please be patient and watch this link all the way through to find that our Australian Taxation Authority is actually an illegal authority.
This 2nd link tells us even more about our Reserve Bank of Australia.
As soon as I am able to ascertain which Australian Bank still remains an Australian controlled Bank by the number of actual Australian shareholders, I will publish these details here below this same Mad Malcolm T’Shirt depiction.
An interesting read.
I think Turnbull’s excuse for off-shore banking was too readily accepted by the Australian public.
Turnbull claimed he paid tax whenever he accesses any of his offshore cash but did he pay tax when the money was deposited?
The ATO ruling is that any income derived locally or internationally is taxable, even if that money is also taxed in another country.
That means Turnbull would often be paying tax up to 3 times on the same money if his claims can be believed.
If that was the case it would be cheaper to deposit into an Australian bank. There would be some financial advantage to go the ‘tax haven’ route.
The Mossack Fonteca Hotel Test (aka Pub Test) would be reflected in the minimum investment amount required and annual fees including commissions paid. Any individual like David Cameron or Malcolm Turnbull who went to all this bother for a ROI of 70K is a pretty lousy investor running at a likely loss. Maybe the real money is in the shell companies?
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