"For an insight into how much control over international borrowing costs the Australian banks really do have, look at how they resisted a Royal Commission for many years. Fought it tooth and nail!"
Yesterday somebody post the above and although I commented on the issue of the Aussie players in international trade being price takers rather than price makers I said nothing about the affront to ones intelligence that constitute the assertion that the proof that our banks are price takers and not price makers lies in their attempts at hiding malfeasance from public view, something that I did in order to see if somebody would dare to say something about such outrageous statement, but alas no.
What a sad state of affairs when such affront to ones intelligence goes unnoticed.
