CHARLES PONZI WOULD BE SMILING AT AUSTRALIA WITH ITS PUMP AND DUMP BANKERS
In Australia they are called RMBS Residential Mortgage Backed Securities. (USA calls them MBS). In 2012 8th August (2pm) I asked Senators "what percentage of the Tranches were Low Docs (ie Toxic Interest Only)?" Banks suggested 10% which I knew was false. More like 60% as Adelaide Bank chief admitted in 2004. In 2012 Banking Post GFC Inquiry, I warned the Government "Govt cannot ought not to profit from a fraud." It is not the mortgage that is securtised in Australia it is the INCOME STREAM.
This means the fraud is affecting the INVESTORS in the RMBS packs, who are unaware that many of the borrowers are on low incomes and pensions. The payments are being paid from more DEBT: LOCs Top Ups, Buffer's, Personal and Split Loans (ie not from income). Borrowers are paying their payments from more debt. The Funds being made available for borrowers are in fact from the Global Wholesalers sold as LOCs. Investors who are in fact the Big Name Super Fund Managers, are getting regular payments of income per month for the five year term.
Big name rating agencies just place mere AAA stickers on the pack that are supplied and rated by the manufacturers - the Bankers. This means YOUR SUPER is at risk. Next on this "Credit-Go-Round" is that due to the fact this is not rocket science as Charles Ponzi (an infamous US banker 1920's) made these schemes immortal. Australian Banks are copying his work. Ponzi went to jail many times over his 55 year criminal career. Our Bankers have a GREEN LIGHT and cleverly designed ROBO Approval and income fudging computers.
Borrowers are encouraged to pay payments with further debt. The RMBS Packs expire in five years. Borrowers are then denied access to further debt after five years and not for good banking reasons! Banks no longer need to pay the regular income payments to the Investor Super Funds for that particular closed Tranche. One Tranche (say 10,000 mortgages) is closed and many more are opened as banks sell more and more mortgages that are UNAFFORDABLE. People are told this is safe as it all revolves around property.
The Bubble eventually bursts. Its called PUMP and DUMP! In Australia, the banks must find people with assets and place them in grave danger and at huge risk of home, farm, business and property losses. Each time a tranche is closed your loan is called in!! Why is it that Sco-Mo and the PM are not telling you this? Think about this problem.
Who did America sell their crappy loans to/ Germany? Anna must be impressed!! Who did we sell our crappy Australian Mortgages to? Ah yes the good ole US of A. Australian Banks were so much smarter by going after those with assets to STEAL. The entire operation is a diabolical Banking PONZI, as I have stated in evidence in Parliament on 3 occasions and under the Rules. ASSET STRIPPING by not explaining the risks and Model being used and, probable outcome due to that cleverly engineered Model of Deceit, is a CRIMINAL OFFENCE. Maximum jail term is only 10 years.
I have lobbied via numerous submissions to Parliament in so many many Inquiries (23 to date) we need the laws changed in white collar crime to 25 years, NO parole and seizure of all the convict's assets. INTENTION TO DECEIVE is also a criminal offence. The Banks are able to continue to profit from monstrous Fraud, by having no regard for "competition laws or any other law." there is no Enforcement of Law. Bankers are entrenched in Outlaw activities.
If, as a decent citizen we robbed a bank, we would be handcuffed the same day! Most of our Bankers come from overseas and with Global connections. Think about this Cartel Operation long and hard and, work out what needs to be done to protect future generations from this debt captivity plan. Australians will be so angry when they finally realise what is happening to this great nation of ours and why the economy is being bled dry.
People need to hear and understand the truth. How can anyone make an informed decision without truth? How can 16 Bankers be in charge of this nation? How did that happen? I will just have to tell my wonderful grown up grand-children why they can never ever dream of owning their own home.
Denise L Brailey president of Banking and Finance Consumers Support Association (Inc) #BFCSA#BankRC
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