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Reserve Bank of Australia Blackmailed !!!
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Reserve Bank of Australia Blackmailed
For several weeks every commentator on Australias financial situation have without exception been reporting their absolute belief that this months interest rate assesment by our RBA ( Reserve Bank Of Australia), would without doubt lead to another rate cut of at least 25 basis points.
All the indicative factors have been blatently evident.
We have 4 major Australian banks here in Australia and while they have been posting record profits it has become a trend amongst them to NOT pass on RBA interest rate reductions, sighting high borrowing costs!!!
Well its impossible to see their difficulties when all of them continue to report record profits, and at a time when just about every other financial instition in the world is struggling.
Just this week we have been reading and hearing all sorts of manovering from our useless politicians and our banks about how they (the banks),wont be passing on these new rate reductions, and now it looks like the pussies ( Male officers at the RBA that have to sit to take a piss),have caved into our banks threats rather than stand firm and let the banks take the fall for their greed.
And all we get from our politicians are toothless commentaries, well lets face it, it was probably them that told the RBA to lie down rather than create a political issue that our politicians havent got the balls to actually address.
Wow, talk about getting being completely screwed over.
The only thing Im glad of is that we moved our mortgage to a building society that instantly does pass on rate moves, and also they dont have the enjoyment of the most corrupt aspect of any bank, they dont have access to fractional banking, so the money that they have is REAL money, not the type of play money that has put this world into the financial crisis it is in.
My suggestion, move to a credit co-operative or building society and let these parasitic leeches feed off each other until they all self destruct.
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