Any Royal Commission would be a waste of time, not one of our Pollies has a back bone and so nothing will change.

Yup, agree mostly with the article!

One should never forget that derivatives (bank products created by the clever people) brought the whole world teetering on the brink of enduring financial disaster.

Banks will do or say almost anything to avoid a royal commision?

Because it shines a very public spotlight on all the shady deals some so called bankers and powerful people, have been getting away with and indeed just how far out on a limb, some banks are are with regard to home mortgages.

However, if we are to have a royal commision and subsequent heads rolling, it really ought to be followed by the creation of a federal ICAC and empowered to eliminate/deal with all root, branch and twig corruption wherever it finds it!

And if we do create one and we should, we must ensure it has all the tools and resources to do the job.

For mine that must include compelled witnesses and covert, fool proof, unbeatable space age lie detection technology deployment to verify all the pertinent facts, or test sworn evidence.

Moreover, deliberate knowing perjury must result in enduring hard jail time and proceeds of (white collar)crime wealth forfeiture, even that transferred to a spouse or relative or offshore bank account, with hard time to continue until it is recovered!
Rhrosty.

We need a new way for money to be created outside the grab hand and interest paying ptivate banking cartels, here is how, pretty simple really:

http://www.resilience.org/stories/2016-04-12/mary-mellor-s-debt-or-democracy-why-not-quantitative-easing-for-people

Geoff

This quote from a banker is very very important. Read it and you will know why.

Montagu Norman, Governor of The Bank Of England 1924
Montagu Norman, Governor of The Bank Of England, addressing the United States Bankers' Association, NYC 1924. Said

 Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible.

 “When, through process of law [he meant “legal”], the common people lose their homes, they will become more docile and more easily governed through the strong arm of the government applied by a central power of wealth under leading financiers.

 “These truths are well known among our principal men, who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance.

 “It is thus, by discrete action, we can secure for ourselves that which has been so well planned and so successfully accomplished.“

 NB: This quotation was reprinted in the Idaho Leader, USA, on 26th August 1924, and has been read into the Australian Federal Hansard twice: by John Evans MP, in 1926, and by MD Cowan MP, in the session of 1930-31.

Read the free Ebook, Banks Lie by Chris Fields from NSW. He tells you all the lies and deceptions the banks engage in.

There was a reason Henry Ford once said that its just as well that ordinary men and women do not understand how money works because if they did there would be a riot before morning.

Yes your right, that's why we have to be change we want to see.

Its becoming more widely known all the time that banks create money out of thin air and that Govt can do the same thing using the exact same method if they wanted to.

Are you aware that it was your servant govt who gave the banks the right to control the creation of money but at the same time your servants did not reserve for you and I, through their legislative power, the right to do the same thing on our behalf. If they had, it's likely that you and I would be paying little or no tax at all today.

Why do I say the govt gave the banks the right to create money to the exclusion of govt? Well, because the commonwealth government is the supreme power in the country is it not?

The banks can't give themselves that power can they? .... can they?

Before someone goes on about govt cant be given control of money otherwise will have runaway inflation bla bla bla.

Govt prints about 5-10% of the money in circulation. The banks, through their ability to create money out thin air when they put money into an account your and my signature creates, creates 90-95% of all the money in circulation.

You also need to know that there are no laws in any country about how much or how little credit banks can create. Think about booms and busts i.e. 1929, here