The Reserve Bank have just realised in a press release that mining profits shock horror mostly go overseas leading to an income deficit in Australia. Of course, this is what we have been saying since we pointed out we have a mining boom, no! We have a mining mirage from back in 2009.
I wonder, if it is going to take 8 years for the RBA to wake up that we have a similar mirage with our GDP, our wealth, our income. In fact, it has been draining into the banks with the help of APRA and the RBA. And we know, that half of that goes also into overseas shareholders pockets! Even worse, a quarter of it goes in and gets lost in the superannuation. Private cash box of the finance industry. Little is left over for us in the economy.
The Reserve Bank have issued a Press Release that announces that Mining Profits are mostly going overseas, we all knew this years ago. Someone gets a lease to dig a hole in Australia and then they send Australia off on ships overseas when the truth is that shipload of Australia belongs to the Australians past and present and yet no compensation for the Aussies who slave to pay taxes to keep this country great.
The income deficit in Australia was pointed out by me in 2009, some 9 years ago the mining boom it was nothing more than a mirage not a boom and at the expense of you and me.
I wonder, if it is going to take another 9 years for the RBA to wake up to the fact that we have now a facsimile of what I said about the mining mirage in 2009. Our GDP, our wealth and our income is now all leaking and quickly into the Banks coffers under the poor management of the APRA rulings which is supported by the RBA.
You and I know that once again the shareholders overseas are benefiting from the banks surpluses and yet 50% of the money flows out of Australia to foreign destinations and another 25% gets caught in the Private Cashbox of the finance industry, we call the compulsory superannuation, which leaves very little to flow into the Australian Economy.
So, we warned of the mining mirage and the Parliament were too busy trying to get elected instead of doing what they were elected to do, manage the prosperity of the Australian economy and today we have a significant problem where the Banks are a Quadropoly and behave in disgraceful ways without anyone pulling them into line.
When are the Parliamentarians going to become brave enough to do unpopular policy that effects the Quadropoly Banking Bandits to their detriment and introduce policy that benefits the Australian people who have been walked over?
Can you really name any Parliamentarian who can demonstrate traction on pulling the Quadropoly Bankers into line?
When are the Parliamentarians going to realise we do not vote politicians into office, we vote them out, and the cycle starts again. The Australian Citizen, yes we the consumers are unable to support the retail sector because of APRA and RBA mismanagement and the Politicians who dance to the tune of the Quadropoly Bankers.
Jobs cannot be sustained yet alone new ones created, there is no surplus cash in the economy, the cash is under the control of the disobedient and misleading behaviour of the Quadropoly when the defiant corporate entity who ignores the RBA and simply increase interest rates on the false representations they are paying more for their money.
Australians must now stand together and say this is enough and pull the Parliament into line with calls that deafen, calls that will make the Quodropolizers realise the game is up; We need to establish the Peoples Bank of Australia, for Australians, we need to start now. It may seem an arduous task and you would not make the difference but one by one, shoulder to shoulder we will become the united front and then the noise we make together will become deafening.
Contact your property mentor and advise them if you are prepared to take your Quadropoly Banking Loan to another source, because if you are prepared to do this, the Club Members alone will together move over 25,000 loans, multiply that by $350,000 and you see we are very capable of becoming deafening, $8.750 Billion Dollars just from Club members.
If you follow the APRA mandate and cease to participate in the Property Investment sector you are playing into their hands. Why? Well, you will become the loser if you stand on the sideline and hope APRA will sort it out. I can assure you your most valuable asset, is your time, yes 1825 days is five years, can you afford to let APRA poor policy keep you from investing in an asset that will become extremely valuable simply because APRA have transformed the way you can buy an investment property.
Those of you that currently have investment property will delight in the knowledge that APRA have restricted property growth, this has created more demand on the existing stock and what is flowing through the markets (developers are becoming scarce because the Quadropoly Bankers are not lending properly to our developers) your investment property is soon to be likened to diamonds as the shortage takes traction.
My best comment today, is contact your Property Mentor and choose another Investment Property and let’s keep you moving in the right direction towards your wealth goals. As you have often heard, do not follow like a sheep, lead and make sure you do not waste one single day, every day that goes is never coming back. APRA and the Quadropoly hope you have not worked this out.
So, there is how to be a winner with the banks and with property. I guess what I am simply saying is, don’t read the headlines, look beyond them for the facts.
Kevin Young // Club Founder