Search Results for: australia

Is Australia’s economy set to crash?

Australian consumers are more worried about the medium term outlook than at the peak of the financial crisis, and rightfully so. As The Telegraph reports, by the end of the first quarter this year, Australia’s net foreign debt had climbed to a record $955bn, equal to an already unsustainable 60pc of gross …

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Australia’s biggest bank facing trillion dollar fines for money laundering

Commonwealth Bank CBA Ian Narev money laundering fines

Even the Commonwealth Bank’s staunchest critics wouldn’t have predicted this one. This is the bank potentially blowing itself up. CBA is facing fines of about a trillion dollars for nearly 54,000 breaches of Australia’s money-laundering laws dating back to 2012. A trillion dollars, which is a thousand billion. About seven times Commonwealth …

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Media banned from reporting on Reserve Bank of Australia corruption scandal

Reserve Bank

On 29 July 2014, WikiLeaks releases an unprecedented Australian censorship order concerning a multi-million dollar corruption case explicitly naming the current and past heads of state of Indonesia, Malaysia and Vietnam, their relatives and other senior officials. The super-injunction invokes “national security” grounds to prevent reporting about the case, by …

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Medical marijuana now legal in Australia

Australia medical marijuana legal

The Australian parliament passed new national laws today paving the way for the use of medicinal cannabis by people with painful and chronic illness. Amendments to the Narcotic Drugs Act permit both legally-grown cannabis for the manufacture of medicinal cannabis products in Australia. The changes, proposed earlier this month by the …

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Australia passes tyrannical internet laws

Game of Thrones Australia internet laws pirating policing medieval

Ostensibly designed to stop you illegally downloading new episodes of Game of Thrones, they may have far broader implications for online freedoms. On Monday afternoon, Labor and Coalition senators voted together to wave through legislation rolling out a new Australian internet filter. The law is intended to stop the circumvention …

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Australia’s looming private debt crisis

Money Australia

As household debt has boomed exponentially over the last two decades, the savings of the household sector has plunged. Australia’s private debt dynamics have been thoroughly explored elsewhere, but less well understood is the country’s position relative to the OECD and BRIC nations. Thankfully, the Bank for International Settlements (BIS) …

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Australia to unleash genetically modified wheat

Australia wheat GMO

It might sound drastic, but the torching and removal of unwelcome genetically-modified organisms (GMOs) is precisely how the people of countries throughout Europe, Asia, and elsewhere have effectively stopped the commercial deregulation of dangerous GMOs in the past. And it may be the only effective remedy right now in Australia, …

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Australia has no gold

Reserve Bank of Australia

After a campaign throughout 2012 to seek clarity in regards to the location of Australia’s Gold Reserves the Reserve Bank of Australia (RBA) has confirmed today in an email to me that 99.9% of their Gold Reserves are held in the gold vault of the Bank of England. Please read …

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Australia scraps carbon tax

Tony Abbott Australia

Tony Abbott has hailed the repeal of the “useless, destructive” carbon tax, pledging to reduce greenhouse emissions without the “international oddity” of a broadbased carbon price. The Prime Minister, while claiming victory after a five-year campaign against carbon pricing, also launched a new campaign against the Labor Party’s promise to …

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Australia’s big-banks bonanza

AUSTRALIA’s big banks have been ranked the most profitable in the developed world for the second year running by the influential Bank for International Settlements. Despite slower credit growth threatening to crimp local lenders’ profits, the big four enjoy wider interest margins and lower costs than most of their overseas …

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Why Australia can’t avoid a recession

Steve Keen Australia recession

By Filip Karinja On the 28th July 2016, Professor of Economics at Kingston University, Steve Keen, gave a presentation on the outlook of the Australian economy at The Royal Society of Victoria located in Melbourne. The British-based economist and author of the popular Debunking Economics book considers himself to be …

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Australia’s household debt-to-income ratio is at an all-time high

Australia household debt income ratio

The Bank for International Settlements has warned that record household debt levels amassed in the past decade have left Australians among the most vulnerable to a sharp rise in global interest rates. According to the Reserve Bank of Australia, household debt-to-income ratio for Australia is at an all-time high of 189%. …

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Australia to open embassy in Kiev and provide military assistance

Australia Tony Abbott

Australia will open an embassy in Kiev and is considering providing military assistance to Ukraine as it battles Russian-backed rebels, Prime Minister Tony Abbott has told Parliament. Mr Abbott said the “interim” embassy would support nine Australian Federal Police investigators who are in Ukraine investigating the Malaysia Airlines MH17 tragedy. …

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Morgan Stanley: Australia needs stimulus to avoid recession

Australian dollar economy

Australia could face its first recession in almost 25 years unless authorities further stimulate the economy, Morgan Stanley said. The nation’s economy will expand just 1.9 percent in 2015, with 1.5 percentage points of that coming from higher exports, and unemployment will climb to 6.8 percent, Morgan Stanley economists led by Daniel …

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Australia passes draconian laws, false flag likely

Senate Australia

Editor’s note: the level of fear mongering going on in Australia at the moment is at levels never before seen. Police are out everywhere in numbers, the media is non stop pushing the ISIS threat into the public’s faces. Australia has been placed on what we would call ‘high false …

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Australia to pass NDAA style indefinite detention law

Sydney

Following Australia’s passing of draconian anti-terror laws late September, the country took another step in the direction. This may allow its security services to detain anyone without charge even before other methods of questioning have been exhausted. The proposed new laws will be subject to a parliamentary inquiry’s decision before …

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Australia facing debt crisis

Australia day Sydney

Australia’s upper house rejected a proposal to raise the debt ceiling to AU$500 billion ($465 billion), which if not resolved by December 12, could send the country into a US shutdown scenario. Australian Prime Minister Tony Abbott has promised he will lift the debt ceiling of the world’s 12th-largest economy …

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Australia is now officially a police state

Australia police state

Tens of thousands more Victorians each year stand to lose their drivers’ licences under a new law police are vowing to exercise in court. Sweeping legal changes which came into effect on September 30 allow courts to suspend or cancel the licence of any person convicted or found guilty of …

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China warns Australia to choose “Godfather” – China or U.S.

america china

It is rare in diplomatic circles for governments to speak bluntly, particularly in the Orient, where manners are highly prized. The exceptions to this rule are retired military officers, who are often able to voice sentiments too impolitic for other channels. One of the more startling pronouncements in this vein …

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