Tag Archives: australian government

Australia Plans Cyprus-Style “Bail-In” Of Banks In 2013-14 Budget

10 Jul
page 134, Portfolio Budget Statements, Australian Prudential Regulation Authority, Australian Government Budget 2013-14. CLICK TO ENLARGE

page 134, Portfolio Budget Statements, Australian Prudential Regulation Authority, Australian Government Budget 2013-14.

I found it.

As predicted. Apologies it took so long.

Unsurprisingly, the evidence was fairly well buried. Naturally, the government does not want you to know what they are doing.

Just like the Canadian government did in March, and just as Europe, the USA and the UK have now done, the Australian government too is now beginning to make good on its 2010 G20 commitment to implement the Goldman Sachs-chaired, internationalist Financial Stability Board’s new regime for bailing out the banks using depositors’ money.

On page 134 of the Australian Government Budget 2013-14 Portfolio Budget Statements, under the section for the Australian Prudential Regulation Authority, we find the first of APRA’s main strategic objectives for 2013-14.  It can be effectively summarised as “business as usual”.

Their second strategic objective for 2013-14, is to:

  • consolidate the prudential framework by enhancing prudential standards where appropriate, in line with the global reform initiatives endorsed by the G20 and overseen by the Financial Stability Board; [see image at top of this post]

Those “global reform initiatives endorsed by the G20” include the FSB plan to “bail-in” insolvent banks:

Click to enlarge

FSB: ‘Key Attributes of Effective Resolution Regimes for Financial Institutions’, Annex III (click to enlarge)

In the waffle that follows, we find further that:

APRA will focus on implementing the new global bank liquidity framework in Australia…

page 134, Portfolio Budget Statements, APRA, Australian Government Budget 2013-14

page 134, Portfolio Budget Statements, Australian Prudential Regulation Authority, Australian Government Budget 2013-14.

This is likely referring in particular to the Basel III International Framework For Liquidity Risk Measurement, Standards, and Monitoring.

When published in combination with the previously mentioned strategic objective to “consolidate the prudential framework… in line with the global reform initiatives endorsed by the G20 and overseen by the Financial Stability Board”, the implication is crystal clear.

“Global bank liquidity framework” is really just technocrat-ese for “global bankster plan to prop up insolvent banks using other people’s money, and so instantly impoverish everyone who still has any savings left”.

For further proof that what this all means is the Australian government planning to steal your money to “bail-in” so-called “systemically-important financial institutions” (SIFI’s) — under the orders of an unelected international body (of bankers and bureaucrats) you’ve never heard of; a body funded by the Bank for International Settlements (BIS), and chaired consecutively by Goldman Sachs alumni — then please study the detailed primary source evidence in this blog’s original breaking story published on April 1st –

G20 Governments All Agreed to Cyprus-Style Theft Of Bank Deposits … In 2010

That’s something else to thank our recently-deposed PM Julia Gillard for doing, without our knowledge or permission.

 

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