but you were agreeing with the higher lending rates...the banks charge borrowers......due to the crap the banks say.... ****it costs them more to borrow overseas at higher rates no mention of using your deposit to on lend at nominal rates
when the truth is...in the old days, the banks took your deposit...and paid you say 4%.... they then lent the same money to a borrower and charged 5%-6%... and everyone was happy... the bankers took a good salary, made a nice profit....blah blah blah but now the bankers need millions...almost billions for their salary alone...before they even cover operating costs... in the past we had state banks......their charter was affordable deposit rates, and affordable mortgage rates.... both borrowers and lenders were happy....you knew where you stood... I think at one stage they even had special low rates for first home buyers... then labor sold off those institutions...to get easy, quick cash.... and hence we are in the B..S situation today... our banks have been borrowing at the lowest rates wholesale overseas...at 1-2%....but lying to consumers and customers about the rates they are paying...
only the gullible, ignorant believe them
the proof is in their profits.... on average 6 billion each...after paying disgusting salaries to mainly imported banker CEO's
