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BFCSA Fights Back against PONZI Financing created by Evil Banking Cartel in Mortgage Lending Disaster
Denise L Brailey
Australian Bankers engineered the greatest Ponzi Financing structure this nation has ever experienced. The Banking Cartel of seventeen mortgage lenders pumped up the largest property bubble this country has ever seen. Loans generated under the covert system of computerised approvals are unsustainable, unverified, unaffordable and approved by "Tricky" the ingenious computer. Every loan is processed as a one-size fits all approved loan using exaggerated income projections using an amortisation calculator which is substantially different to the bank online public variety. In this way the loans are created as toxic loans yet all of the above is kept from the over trusting public.
Yes the above activity is illegal, well hidden and structured by these monolith institutions and has taken BFCSA members over 15 years to investigate, discover the fraud, gather evidence and group people together to investigate their own cases. We teach members what to look for and enable and empower consumers to conduct their own investigations into organised white collar crime within the Banking System.
BFCSA then gathers the data collected and feed out to the experts for independent examination purposes. Those reports are then submitted to Parliament.
The Bubble is unsustainable. The fraud, forgery, $100k over the top inflated valuations are all characteristic of a giant fraud in play: a well hidden, expertly orchestrated intention to deceive the greatest number of people in the shortest possible time until the inevitable crash becomes apparent. Those responsible are the most intelligent, clever elitists whose prime concern is their own wealth.
This systemic looting of homes has been GAME ON for the BANKS leaving its prey in massive debt where five years prior they were financially secure. Vast profits from Predatory Lending is the key word and prime motivator for the engineers.
Now its time for Fightback and Game On for the aggrieved Consumers.
Olympic size theft has been occurring on a daily basis under the noses of the regulators ASIC and APRA blissfully snoozing on bank super-prescribed Mogadon. The side effects of this drug on regulators is as follows: Drowsiness /Empty feeling / Lack of alertness / Confusion / Fatigue / Dizziness / Weakness and Double vision. Well that explains the constant state of inertia of ASIC and APRA.
Australian Banks (influenced by American Big Four) were front line in kick starting the property groups to emerge as key sources to feed victims back to the Banker driven frenzy of approving multi loans and JUMBO Loans. Banks funded the sellers, the developers, the construction heavyweights, the real estate gurus, the valuers and the every grubby and duplicitous LAWYERS who wrote up the contracts of entrapment and then profited from sending out threatening letters and forcing homelessness via the bank owned Ombudsman's service. As US Professor William K Black and David & Soos of LF Economics have identified: the capture of regulators is a key indicator of the presence of an active Control Fraud at work.
Prime Minister Turnbull is former chief of Goldman Sachs Australia. He is a Banker and he fully understands the banking activity responsible for creating the Great Depression because "Sachs" caused the GD in 1929, 1983, and again in 2008 GFC. Sachs were experts on causing and profiting from global economic chaos. The PM consistently acts as a Mate of the Banking fraternity. He knows first hand this chaos is engineered in the name of "illegal profits" yet, to achieve ultimate magnificence, one has to wreak havoc on Consumers and at the same time reward the shareholders who seek safety in good sound business management. Ironically the shareholders believe these banks are TOO BIG TO FAIL as the taxpayers will be called upon by the PM and Treasurer to bail them out. That's unlikely in Australia as our people will get very angry indeed!
Banks will fail and the people will call for a People's Bank. Shareholders of Bank shares will be seen as the enemy as bank investors are fully informed they are profiteering from the worst criminal fraud this country has ever seen or experienced.
How does two million persons losing their own homes assist the economy?
How does shutting out the younger generation from even dreaming of saving a deposit to buy a home, benefit the economy?
How does everyone renting to a chosen few bankers as landlords, help our economy?
L F Economics experts David Lindsay and Philip Soos have been warning of the potential ramifications to the economy in their numerous reports to Parliament. They agree: there ought to be a Royal Commission into the Banking sector.
The Australian Labor Party have been pushing hard for a Royal Commission into the Banking Sector. Several Senators agree there has to be a Royal Commission. Bankers not happy with that call.
The Prime Minister (ex Banker) wants to bring in the Bankers to please explain. Treasurer Morrison says "Bankers happy with that."
So we feed seventeen lenders "elitist happy pills" and drown two million citizens in debt? Our Government is obviously supporting a protection racket.
People are having their homes stolen in a mass produced "asset-stripping" business and all the fault of bank de-regulation to enable their entry into the wretched and totally evil "financial advisory market." The is a distinct conflict of interest with a marriage of profiting from the manufactured product and the creative accounting and financial advice sector. The specific element of CONTROL is to control all facets of sales and service of intentionally tainted goods. This includes the after sales customer complaints handling. The Bankers own the financial services by way of exclusive financial support and the secondment of bank officers to look at consumers files.
- Asset-Stripping is illegal in this country. Its a CRIMINAL OFFENCE.
- Lawlessness starts when good people do nothing.
- When Governments see such a massive build up of white collar crime and DO NOTHING - that is the greatest crime of all.
Extreme Right Wing Liberals have captured the Liberal Party which has become over time THE fully funded BANKERS PARTY. The chronically wealthy elites have cast off the Little "L" mums and dads. These extreme Liberals are better managers of the economy by protecting the known Cartel of 17 Bankers engaging in organised crime?
CONSUMERS of Financial Products are the bank driven target market. As several sellers have remarked to me both here and in NZ: "anyone who is a home owner and has a pulse." I watched this market being promoted by Peter Costello in 2005. I was a VIP guest of a large bank. Consumers entering into this zone, risk becoming financially destitute and homeless within the designated five year implosion period. How can a mortgage product be permitted to be produced in such a toxic form as to bring a country to its knees?
ARIPs became the obvious TARGET: Pensioners and low income families who OWNED THEIR OWN HOMES. Decent hard working Mums and Dads who are the back bone of this nation.
In fact this Grand Plan was all part of the cleverly bank engineered Ponzi Financing strategy to make bigger profits for the BIG FOUR. Banks could then gather the titles from those who owned their own home and had no debt. The Elitists knew they could afford to use the bank funded Ombudsman system to bury complaints; loans are then publicly recorded as being "impaired" or in default. Consumers who have lost over $150k average per person are then bullied without legal representation to "cut a deal" with the criminal bankers AND these criminals demand "confidentiality" clauses be signed to enable them to purchase their silence. There is of course a compensatory policy by FOS of up to $313k compensation for hidden maladministration in Lending, but BFCSA know the average bully-boy agreement is only every $20k to $60k discount on mortgage loan, leaving the usual $150k overall loss per person and therefore a loss of home.
Banks pay FOS up to $40 million a year to bury the bodies. So much for the PM's idea of Justice and Independence for all.
This has to STOP! The burden of confidentiality is not enforceable as the content is covering up a crime scene of mammoth proportions.
Its a shameful indictment of foul play within our society when the Prime Minister permits this activity to escalate and all those people who owned their own home become homeless.
Despite illness, the courage of Mick and Kaye was sadly put into action by the few to warn the many. Its time you all screamed out loudly via letters, emails, social media, main stream media - with every fibre of your being. The Banking Cartel Gangsters number only a small 17 person group. There are over 1.5 million affected by this problem. I just do my bit.
The sellers and former sellers of bank mortgage products (55% are bank officers) are also often the victims as they too were told to sell the product and practice on their own parents. These people need to become whistle-blowers. Another big scandal is looming: Parental Guarantees which involve manipulated contractual fraud by the lawyers of the banking sector. We know how that one works to the benefit of the banks and shareholders and to the financial devastation of parents and families. Sellers have no way of seeing that one coming.
The nation needs a long awaited proper Royal Commissioner (two Commissioners - wide TOR) into the banking and financial advice industries and as a matter of some urgency.
The Royal Commissioner can then do what ASIC will never do to assist consumers: He/she will demand all documents , emails notes, customer files - that have been hidden under the farce of "commercially sensitive," and a blatant excuse to cover-up a crime. Even the Freedom of Info Commissioner falls for that one. Is there anyone involved in the Consumer Doom Loop, not captured by the Cartel?
Banks and their employee's at FOS told Parliament (2014) the documents have gone missing. GOOD for the Royal Commissioner....Lawyers for Consumers will ask the courts to nullify every mortgage as no documents can be produced to show a prudent loan. All were in breach of s25.1 of the Bankers Code. Nine Attorney's General in the United States won that argument in states courts against devious bankers in the past five years.
Immediately, after parliamentary gates opened, Opposition Leader Bill Shorten and his team have set a cracking pace by demanding a full and extensive Royal Commission into the Banking and Finance sectors. Labor efforts have been running in all mainstream media outlets for a week. Now its your turn to do YOUR BIT.
Cut and Paste and send to EVERY MP (Both House of Reps and the Senate) so they are all fully informed. Ask them for quick response as to YES/NO to a Royal Commission. Send all responses back to my email denise@bfcsa.com.au
Those who say YES TO RC are part of the solution to clean up our vile banking sector.
Those who say NO TO RC are part of the cover-up and as such deserve to be held criminally duplicitous.
Denise Brailey BFCSA Banking & Finance Consumers Support Association