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12/02/18
21:12
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Originally posted by zomed
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Getting a business loan from AU banks is a crap shoot really. They would sooner give you a personal loan at 17%.
Although banks are loaned money at 1.5% from the RBA to fund Business they have forgone this duty because of its risky nature to inflate the housing Market at 4-6% compounded and keep shareholders happy.
If I was Treasurer I would lend money, 50% of which had to go to Business. This is free money to Banks and what do they do with it?, Inflate the Housing market. Racket of all Rackets-Usury.
Another thing is for a Govt Bank to loan directly to Business. The Banksters hate competition but they do not achieve their purpose which is to stimulate/fund Business. rant over
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The Banksters hate competition. So what does smarty-pants Keating do? Sell the only lever to reign 'em in!
CBA. Must admit it was my first foray into buying shares and by jingo, it sure is paying off. Thanks, Paul.