Search Results for: Australia

Reserve Bank of Australia quietly increases banks’ bailout buffer

Reserve Bank of Australia

In a globally unique policy, the Reserve Bank of Australia will supply banks with a permanent bailout facility worth up to $380 billion by 2015. The policy has been designed by the RBA to help banks satisfy stringent new liquidity tests which simulate “acute stress scenarios” that deny banks funding …

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Australia, Japan gold reserves drop in November

Gold reserves

Australia and Japan witnessed marginal declines in gold reserves during November. Japan’s gold reserves dropped to gold reserves were at $42.46 billion in November while Australia’s gold reserves decreased to A$4.248 billion from A$4.253 billion. Total foreign reserves of both the nation also declined. Japanese official reserve assets totaled $1.2708 …

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New South Wales bushfires linked to military explosives exercises

NSW Bushfire

The Australian Defence Force is investigating claims that explosives used in a military training exercise could have started the bush fires that have destroyed swathes of New South Wales.  The exercise took place at a military base near the town of Lithgow in the Blue Mountain region last Wednesday. On …

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Catholic Church paid $276m to sex abuse victims in Australia

Catholic Church sex abuse Australia Pope pedophilia

The Catholic Church paid $276 million to victims of alleged sex abuse committed by priests in Australia over decades, an investigation says. Critics say the system of payments is unfair and not all victims receive the same opportunities or compensation. Since 2013, the Australian Royal Commission into Institutional Responses to …

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Australia to consider legalising ayahuasca and DMT

Australia ayahuasca DMT

They’ve come to see a man and to drink his tea. Julian Palmer is an ayahuasca facilitator. For more than a decade he has been hosting small ceremonies all over the country and making his homemade brew. “These are plants that are on this earth for us to use,” he says. …

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Australian Customs involved in drug smuggling

Australian customs drugs

Up to 30 Customs officers have been accused of receiving bribes to turn a blind eye to the import of drugs and illegal precursor chemicals through Sydney International Airport. The allegations are believed to follow several months of surveillance by the Australian Federal Police after officers were tipped off about …

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Australian stock market rigged: top insider speaks out!!

ASX stocks

A key executive of one of Australia’s largest retail stock brokers has blown the lid on what he calls the “market rigging” which is taking place on the Australian stock exchanges.  He was commenting on my article (Getting the jump on high-frequency trading, July 18). Bell Potter’s managing director for …

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This time had better be different: Australian Housing Prices and the Banks

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

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Australians speak out against high-frequency trading on the ASX

High-frequency trading

The rise in algorithmic and high frequency trading (HFT) on the Australian Securities Exchange (ASX) and global stock exchanges has raised considerable alarm among investors, analysts and other market participants. In an effort to ascertain perceptions in the market relating to algorithmic trading and HFT and the impact both have …

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Australian fitness club fined under ridiculous carbon tax law

Genesis fitness club carbon tax fine Australia

A FITNESS club has become the first Australian business to pay a fine for making a false claim about the carbon tax. GFC Berwick, trading as Genesis Fitness Club, paid $6600 to the Australian Competition and Consumer Commission (ACCC) as penalty for sending a letter to its members in April …

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No DNA link to Assange in condom central to sex assault case

A ripped condom given to Swedish police by one of Julian Assange’s accusers does not contain the WikiLeaks founder’s DNA, forensic scientists have reportedly found. In a 100-page document shown to Assange’s lawyers, it was revealed that the torn prophylactic, having been examined by staff at two forensic laboratories, did …

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Australia’s police state expands

Australian police TSA

The Australian state of Victoria’s parliament passed a bill giving police power to suppress protests, including ordering a rally to move on based on a suspicion that it may turn violent. Opponents call the powers excessive and undemocratic. The Summary Offences and Sentencing Amendment Bill passed through the upper house …

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Are corporations masquerading as government in Australia & world wide?

Would you be surprised to find a company with the same name as your country registered with the Security and Exchange Commission (SEC) in Washington DC? Well, guess what?! Among those listed as corporate entities by the United States SEC are: Israel, Turkey, Italy, Hungary, Sweden, Finland,Argentina, Colombia, Brazil, The Philippines, South Korea, Japan, Jamaica, South Africa, Canada,Australia… and my personal favourite (and I quote) …

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Australian government withheld knowledge of Prism program

Nick Xenophon

The Australian government was aware of the US National Security Agency’s top-secret Prism program at least two months before the Guardian revealed its existence to the world. A freedom of information request by the ABC has confirmed officials in the Attorney General’s Department prepared a secret briefing for the minister on Prism in March 2013, more than …

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