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Heiner Affair will not go away Beattie



Hearing is believing.  Do any of you see rank corruption here? A cover up that One Nation and many others have been working on for years to expose!

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At 2.35pm Last Friday, the RBA Became Irrelevant


 

Posted Thursday 16th. February 2012
By Kris Sayce
.

Aussie banks on a collision course with the RBA...reasons to be optimistic about the future...low inflation numbers are a fraud.

At 2.35pm Last Friday, the RBA Became Irrelevant

One of the supposed benefits of the Aussie market is that the Reserve Bank of Australia (RBA) can move interest rates and the retail banks will follow suit.

We're sure you've heard mainstream commentators say, "Our economy will be fine because the RBA has plenty of room to move."

So, when the RBA cuts interest rates to boost the economy, the banks cut rates... and when the RBA raises interest rates to slow the economy, the banks raise rates.

Or that's how it worked until 2.35pm last Friday.

That's when the world heard that ANZ Bank [ASX: ANZ] had lifted interest rates separately of the RBA. In a moment, we'll explain how ANZ's attempt at interest rate independence is nothing more than mistimed bravado that's set to backfire.

Because it all but guarantees the end of huge bank profits. First...

88% of Economists Got it Wrong

It's funny how quickly the market turns. Four days before the ANZ raised rates, 24 of 27 economists surveyed by Bloomberg News predicted the RBA would cut interest rates at its February meeting.

It was all set to be good news for variable rate borrowers. But when the RBA decided to do nothing, mainstream commentators were shocked. Especially when most of them had claimed a cut was certain.

But before borrowers could digest the news they found out their mortgage rates not only weren't going down... they were about to head higher - 0.06% higher for ANZ customers and 0.1% higher for Commonwealth Bank [ASX: CBA] customers.

In one swift stroke the ANZ did what even the most ardent anti-central bankers could not do: it made the RBA's interest rate setting role redundant.

They've cut the cord and perhaps the market's fixation with the first Tuesday of each month is over (when the RBA sets its benchmark interest rate).

When you think about it, it's not so surprising. We won't say no-one cares about the U.S., Euro or U.K. interest rate level anymore. But it's now an afterthought.

The Aussie central bank is just following the global trend.

That trend is where central banks lose control of their interest rate setting powers. Where their only influence is to resort to money printing.

The problem for the RBA is that unlike other major economies, they don't yet have an excuse to print money. So, how can it stay relevant?

Setting the Scene for AussieMac

Assuming those at the RBA want to stay relevant. After all, people don't join the RBA board because they want to be irrelevant. They join the board because they want to influence and change things. So, we wonder. Could one way of influencing and changing be to make direct investments in the Aussie housing market?

The Aussie government's money managers, the Australian Office of Financial Management (AOFM) already owns $14.6 billion of residential mortgage-back securities (RMBS).

This is part of the program to increase competition in the Aussie mortgage market. Trouble is, it has been a total failure. The four major Aussie banks are more powerful than they've been for 30 years.

A tiny $14.6 billion won't change anything. The reason is, because like most government programs, it targets the symptom not the cause (my old pal, Greg Canavan has more on this below).

But our guess is the government will do what most governments do. Rather than admit a program has failed because it was a bad idea, they'll claim it hasn't failed. They'll claim it just needs more money.

(Think government healthcare, schools and law and order - all are failures, and yet they're given ever larger amounts of taxpayer dollars every year.)

So our bet is we'll hear more about government plans to set up an AussieMac (named after failed U.S. government-sponsored mortgage firms, Freddie Mac and Fannie Mae). This will involve the RBA and AOFM teaming up to expand the mortgage securitisation market.

The RBA will continue to go through the motions of setting the monthly cash rate. But rather than this having no effect on bank mortgage rates, they'll use the RBA cash rate as the benchmark rate for the new AussieMac home loans.

In other words, if the RBA can't influence the banks' interest rates directly, it will try to do it indirectly. This could even mean targeting longer-term rates such as the 10-year bond, or even working with the AOFM to create a 25- or 30-year bond that can be the new benchmark for long-term fixed mortgage rates.

That'll create a problem for the Aussie banks. Because in order to stay competitive and not lose customers to AussieMac, the big banks will have to keep rates lower than they otherwise would. That means squeezing margins... and lower profits.

Four to Sell

But until then, the ANZ Bank has showed the market the RBA is no longer in a position to influence and change. It means whatever the RBA does, the banks will thumb their noses and do their own thing.

Can we really expect the RBA to stand for that?

The banks think they've gained their independence and regained control of their own profit margins. They're wrong.

The bankers forget the only reason they've clocked up whacking great profits for so many years is because governments have allowed them to. Once the government removes its privileges, it's game over.

They should have asked their buddies in the U.S., U.K. and Europe what happens when banks lose privileges. Even multi-billion dollar bailouts won't keep the banking ship from sinking. As the following chart shows of five big U.S. and European banks:


chart of five big U.S. and European banks
Click here to enlarge
Source: Google Finance

We wrote last week that Aussie banks are heading for years of stagnation. And those high dividends are a selling rather than a buying signal.

ANZ's decision (rightly or wrongly) to distance its interest rate decisions from the RBA cash rate only confirms what we already knew...

Aussie banks think they're invincible... And the bankers who run them think they're geniuses deserving of million dollar pay packets. But in reality they've just benefited like all government-granted monopolies.

Yet that hasn't stopped them thinking they don't need the government. They think they can go it alone.

But it won't be long before they realise that without government support, and taxpayer funded bailouts the Aussie banking system is no stronger than any other banking system... And therefore is doomed to fail.


Ian j Nelson

Here's all I want

 

 



HERE IS ALL I WANT

14th. February 2012



Labour Party: Gone!
 
Borders: Closed!
 
Parliament: Obey it's own laws
 
Language: English only
 
Culture: Respect the Australian culture and stop trying to change it and us!
 
Drug Free: Mandatory Drug Screening before Welfare!
 
NO freebies to: Non-Citizens!
 
We the people are coming!
 
 

 
 

KATTER PARTY WANTS TO BE ONE NATION

 
 

8th. February 2012

                                                  
KATTER PARTY WANTS TO BE ONE NATION


The Katter party’s just announced firearms policy was taken directly from my firearms policy statement which was put on the One Nation website last November, and sent to the Sporting Shooters Association of Australian(SSAA-Katter’s sponsor) at their request  for publication .

The Katter/McLindon policy is a duplicate copy. Our policy was handed out at the Beaudesert Golf club on 11th November, Beaudesert markets on 7th January and at Boonah on the 10th January by me personally. Katter stated categorically at the time he had.....  ” no intention of changing Qld. firearms laws”.. when questioned by the press last year over the massive amounts of money given to him by the firearms importers and pro gun groups  (ie.SSAA). Now he adopts all my proposed changes. He had no policy of his own, which he openly admitted in The Australian newspaper last year.

I challenge Mr. Katter or Mr. McLindon (the supposed leader of the Katter party in Qld) to a debate on this issue any time. Mr. McLindon is the Queensland head of the Katter party yet is consistently quiet and Katter seems totally in control of his (fourth) new political identity. One Nation’s policies are timeless and right, and everyone wants and does steal them. We never change our beliefs and values,  ever! Good stays good!
 
A politician who stands for the truth will always stand  alone. That’s why One Nation is ignored by the press and seemingly so alone. All party  M.P.s flock together and follow their leaders blindly, leaders who happily steal our policies.  The press is asleep and should be doing some real investigative journalism of their own, instead of blindly accepting the spin handed to them by these weak  men . Take a look at One Nation’s firearms policy and see for yourself where  the  Katter, er... McLindon, policy came from.

Make no mistake, Mr. McLindon was a member of the National party, the party which introduced and continues to this very day to support the anti honest citizen, pro criminal firearms laws. Now he no longer supports the laws he once willingly supported. Now he has a new boss and has changed his beliefs again, and embraced our policies. What a rebirth! Or is it purely political opportunism, again? Fourth time lucky? What do you think?

We have our own policies and truly believe in them. We need men with true self belief in parliament, not neutered followers.

Jim Savage.  One Nation State President and candidate for Beaudesert.  
 

2011 Flood Summary

 


27th. January 2012

Updated from our article 27th. January 2011

The disastrous flood of 2011 in Brisbane Queensland that includes the multi billion dollar flood damage to Brisbane properties has caused so much pain, suffering and loss to many, including the working poor who Premier Bligh will means test to salvation, was of almost "Biblical proportions" said Peter Beattie.

Blame God! said Beattie. If there is a relevance in this area why not blame the Devil? But of course there is no relevance.
Beattie's statement must surely be the mother of all blame diversions. So profound is Beatties statement it boarders on blasphemy, highlighted by the fact that his utterings on misinformation is unforgiving. It is typically political, especially when Beattie is one of those involved and who is a person who could evaluate the evidence that largely suggests the recent Brisbane flood was man made by a litany of Labor political decisions with an intensity of incompetence that boarders on negligence!


The foundation  for this disaster was laid in 1990 by Wayne Goss when he cancelled the construction of the proposed Wolfdene Dam that was almost ready for construction by the Bjelke-Peterson government.

In 2011 after this flood disaster, Wayne Goss is the number one person of interest in unravelling this catastrophe! What vision did he apply as an alternative engineering principles to the construction of the dam and what other applicable technical principles did he consider in his decision cancel the construction.

The Wolfdene dam was proposed by Bjelke-Peterson and his advisers as an integral component of the 60%-40% flood retardation / water usable supply of the Wivenhoe dam. Goss's action now appears totally unjustified.

Why did he do it?

He must be asked under oath at the pending inquiry to explain why.

It has not gone without notice that both Goss and Hammell are back! Why?  At the same time Kevin Rudd was a chief staffer to Goss and David Hammell was in his cabinet.

The number two person of extreme interest is Peter Beattie. Wow, what a guy! He couldn't comprehend the history of weather, even the basics of when you have a drought the next major event would be a flood.

Jim Soorley the former Brisbane Mayor could see it, while Beattie chose not to.  Soorley commissioned a report in 2003 that led his council to plan for a two stage upgrade of the Wivenhoe dam to insure Brisbane against further flooding.

Stage one was completed before 2006 with three fuse plugs installed to blow up a section of the earth wall to assist in an emergency measure. A system that was so close (1/2 of one metre, 500cm) to being activated in the present flood to save the main wall from water flow over the top.

Stage two to this day in 2011 has not yet been built. Work that would have raised the dam wall at a cost of around two hundred million dollars at the time and saved an additional five times the amount of water that is being held currently in a flood emergency.

The damage bill for this 2011 flood disaster to Brisbane city and environs will exceed 10 billion dollars for the sake of 250 million back in '06.

Why was this wall not built?

Why did Beattie not support it's construction?

Beatties government with Anna Bligh as a cabinet minister did nothing here, not even to the point of financially assisting the Brisbane city council with it's outlay of 80 million dollars on stage one!

It would have been reasonable at the time for people to support the council position to go cold on stage two if the Beattie government was not prepared to financially assist further flood proofing of the Wivenhoe dam.

Beattie's position, of spend nothing do nothing approach to future extended flood proofing to protect Brisbane, is flawed logic locked in Beattie's mind.

His logic extended right up to and beyond his government's panic explosion in 2007 when the Brisbane water supply was at 20% of it's maximum capacity.

Panic planning was placed in speed mode, time was of the essence, where the cost / benefit ratio to the taxpayer appears to have been irrelevant. Seen to be doing something became very important and political survival became paramount.

In the panic environment the plan was born (In hindsight a financial disaster) to tap into local council dams, build a desalination plant, build a system to recycle sewerage into drinking water, create a diversion for distraction, a flawed planned dam proposal in the Mary river valley, and spend millions of dollars on the project to make it look like a real solution.

Previously Beattie had failed with his cloud seeding adventure (cost unknown) fortunately for the taxpayers he did not attempt to boil stones to release water vapor so mad was his political thinking at the time anything was on the planning table!

Quickly Beattie rolled out his 9 billion dollar plan (money borrowed) with checks and balances unknown.  Lucky contractors gorged on Beattie's easy money as highlighted in a Sunday Mail article 18th. May 2008, 2.4 billion dollar water proposal blowout..and the final bill is likely to be much higher. This outrageous statistic achieved in the first 12 months of construction. The irony of it all is that if Beattie's 9 billion dollar folly had not expended 1 dollar then the whole of Brisbane would still be no worse off today with it's water needs. A damming indictment of Peter Beattie's mega incompetence' appears to be a light description!

Beattie should also front the enquiry into the 2011 floods and explain his actions where hindsight is not a legitimate escape route to follow.

Person of interest number 3, is Anna Bligh, Beattie's trusted lieutenant who was a senior member of his cabinet.


 

Clearly there are questions raised here that can only be answered by Wayne Goss, Peter Beattie and Anna Bligh and all must front the enquiry if it is deemed to be credible. And "terms of reference" must be wide ranging.

It would appear that what could be revealed from the enquiry is that political incompetence and interference played a large roll in the Wivenhoe flood control procedure and actual operations.

Now after the Brisbane flood and other events Bligh's budget has no substantial funds to adequately  assist people with huge losses through no fault of their own.

One Nation's position to Bligh's nightmare will be ignored by the media but the facts are on record and cannot be denied. One Nation has policies since 1998, and if implemented would have saved sorrow and hardship to thousands.

The media are resisting, though they cannot ignore, good can emanate from sound intelligent One Nation policies.

Statistics prove that the 2011 floods could be easily repeated at any time negating the luxury of years (36 years since the last major flood) to the next event.

What must be avoided is the public forced to endure another fast mad knee jerk solution in lieu of a change of government.

The truth and solutions are found here on our website!

         Ian j Nelson    State Director One Nation Queensland