Government’s Hand To Dip Right Into Your Bank Account

1st they throw us into debt, then when you piss them off some more they throw us into further debt

Barnaby Is Right

k-bigpic

No surprises here for regular readers.

From today’s Australian Financial Review:

The federal government will prop up the budget bottom line with a new levy on banks that will be badged as providing insurance in case future bailouts are needed.

The Australian Financial Review has learned that the government’s economic statement, set to be released Friday, will contain a deposit insurance levy as recommended by the Council of Financial Regulators, which will raise funds to underwrite any Australian bank should it need assistance in the future.

The proposed levy would be between 0.05 per cent and 0.1 per cent. Presently, the government guarantees deposits up to $250,000 without charging the banks.

Actually, the AFR has it wrong. Or at least, incomplete.

Yes, the Council of Financial Regulators may have “recommended” this.

But the real shot-callers, are the banksters at the IMF and the Financial Stability Board.

Recently, we saw…

View original post 915 more words

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: