APRIL 9 2017
AUTHORESS LA FEMINA
Societies are not on average stable and safe –
Humanity is likely on the verge of returning to the mean,
and the mean is exactly that, mean”
And you cannot get meaner than the ANZ Bank. When the going gets tough the tough get going. Life is getting pretty tough in ANZ land given they have taken to harassing clients by automation. For to my surprise and disgust I received a text message saying I was overdrawn. It seems that a paltry overdraft of some $250.00 warrants this behaviour. For having chosen to meet my automated payments from an account reserved for such purpose, presumably the rates bill, the ANZ bank suddenly had second thoughts on their ability to fund the said overdraft. The precariousness of banks is more fragile than I thought.
Such that my row of knitting was interrupted, not once but twice. For on a day thereafter, not content with a text message I picked up my mobile phone to hear an automated message from that bank. I hung up and then promptly burst into tears. I’m a sensitive soul at heart and to me this felt like harassment. I’m wondering how in fact the ANZ bank got my phone number – discerning as I am with my choices. I promptly marked the text message as spam but the phone call could not be blocked for it came up as an unknown number. How underhand is that!
Um…Harassment – I wonder what the definition of this is according to those that enforce – unwanted and uncalled for calls from anonymous phone numbers seems to me to fit the bill.
Such that the sanctuary of my home was intruded upon by of all things a Bank. The bank that has the lowest reputation in the market hence purchased the National Bank which had the highest reputation in the market; specifically friendliness and humility. But silly ANZ, you paid a price over market, for as any seasoned business executive knows you don’t pay a premium for a business and then change the essential stock – in this case it was the people that were the brand. And we think banks are well considered – Think again.
Embedded into the Australian culture that is the ANZ bank are the attitude and sentiments of the people who colonialised Australia – the convicts who were ‘exported’ from Britain. Whilst of English heritage, I too find the British have much to answer for in its treatment of people per sae and with all due respect to those ‘labeled convicts’ because they stole bread to satisfy hunger, something we will see more of in New Zealand, the desperation of the convict mentality is anchored in the Australian psyche. Ask any New Zealand Corporate who has endeavoured to set up shop in Australia and they will tell you that the similarities between New Zealand and Australia are not so similar after all. For when push comes to shove the Australians mean and aggressive streak is quickly revealed. For now firmly entrenched into the social and business fabric of New Zealand, they are finally showing who they are – and it’s not pretty. For the Australians trashed all that was beautiful in Australia – the wisdom and compassion of the indigenous peoples.
But returning to point I want to be very clear about quantifying the exact issue that prompted this writing and place in context. The ANZ bank has a mortgage over my property. The total debt against this property is less than 3% of ratable value. I repeat – less than 3% of ratable value. The amount is infinitely small in terms of both total debt to equity and well $250.00 is not a big deal for a corporate that is supposedly sound. I find this conduct both appalling and revealing. Banks no longer exercise judicious decision making, nor it seems basic common sense. It seems to me that ‘collecting debt’ as the call centre named it, by text and phone makes me feel I had placed my transactional business with a loan shark or finance company. There is one situated just around the corner from ANZ bank with the same blue branding – perhaps they forgot which set clients they were acting for that day.
Are they a related? One might expect this type of behaviour from a second tier lender but at least they call themselves what they are, whereas the ANZ Bank appears to me, to be a Wolf in sheep’s clothing.
The BAIL IN provisions must be nearing implementation. That is, when the banks go broke they pounce on your money. Legalised theft I call it. Governments have the duty of disclosure albeit they have done so that in language that could be said disguises intent. The common name of this legalised theft is “Open Bank Resolution Policy (OBR)”. Note its Policy not a statute of law such that there are various documents that refer to OBR, not one source document which seems to me as not quite right for such an important Political Policy instrument. But then I am a mere women questioning what is. This Policy came into being after the 2008 financial crises, in the knowing that the financial ‘fix’ was temporary. Nine years have passed by since the Freddie Mac and Fanny Mae bank failings that instigated the global financial crises – GFC as the Australians call it, yet nothing of significance has been done to stem the rot of the system that is in reality a world wide ponzi scheme. Nothing that is, but to establish protection for the unscrupulous, by making ‘Bail In’ of the Peoples money Compulsory. Remember you are a Creditor of the bank when you have deposited funds and the balance of your account is in credit. They owe you your money, unless they get to it first.
Motives and character underlie our behaviours. For the ANZ bank to employ such aggressive business practices for a mere $250.00 one has to ask what are their motives for we know of their ‘character’. What of their financial position; are they low on funds, finding the cost of funds impacting on their bottom line, are we on the verge of the forthcoming global financial collapse, or is it just the ANZ bank that is currently teetering? Or is the ANZ bank just being ‘Men Mean’. Or if we place these behaviors in the wider context of our times it fits into deliberately causing chaos in peoples lives. Like the school yard bully giving someone a slap because they felt like it. Or yet another question ‘is it that we have people in positional power who don’t know how to think’ for it seems to me that it is increasingly rare to find capable people such is the dumbing down of our universities.
From my perspective it serves as a reminder to rise above the absurdities of which there are many and devote my attention to what matters most – strengthening ones resolve as the means ( no pun intended) towards the survival of the fittest. Not survival on financial terms given ones wealth may be a thing of the past. But the survival by those who have the inner strength to rise above maleficent behaviors’; to rise above the predatory behaviours of the likes of the ANZ bank.
The second choice is close my accounts. But what of those people who do not have the ways nor means to take such action? What of their lives being tethered to that Bank? How will they feel when the ANZ bank phones to “see if they can help you” to. Changing ones phone number might be one option to release themselves from the convict type chains that give that Bank accessibility into ones private life.
Our privacy and our homes are to be cherished – it’s our sanctuary from the ‘mean’ times we are living through. However good things come to those that wait and these aggressive business practices will come to a head in the not to distance future – the tipping point has been reached and awaits some event to hasten its fall.
As to what bank I will change to? Maybe I will revert to pay by cash whilst I still have some measure of Personal Liberty.
“First they came for the Socialists, and I did not speak out—
Because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out—
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out—
Because I was not a Jew.
Then they came for me—and there was no one left to speak for me”
And then they came for your Wealth
Courtesy of the Open Bank Resolution Policy
My core philosophy is for readers is not to automatically believe what you read, see or hear – this blog included. Read to inform then verify by looking outside your main news diet. In this way more rigorous debate ensures – no matter what point of view you hold.
What follows is a range of viewpoints that ring true for me. Some go back awhile for this is an area I have been following since the 2008 financial crises. There is always a tipping point. For me it was what I perceive as uncalled for bullying tactics employed by ANZ towards me for a mere $250.00 overdraft. This has given rise to this article from which has flowed my views of the power of banks over our lives.
It will be the vulnerable that will be most affected by the Bank ‘Bail In’, the many ordinary people who are completely unaware of this policy consumed as they are with earning a living and looking after their families. Many will find it inconceivable that a bank would take their money or unwittingly believe that funds deposited in a bank account are guaranteed by the Government. Society has changed (irrevocably?) whilst we have been sleeping working. Whilst it is purported that there are limits on the amount of Your money that will be ‘bailed in’ ultimately this will be at the Governments discretion. Such that by placing your money in a bank is giving your bank an ‘open cheque’ for them to nominate the amount of your money they want.
As far as I am aware the bail in provisions are not listed in the fine print of the terms of conditions of opening a savings account. This begs the question should they be?
‘A bail-in is rescuing a financial institution on the brink of failure by making its creditors and depositors take a loss on their holdings. A bail-in is the opposite of a bail-out, which involves the rescue of a financial institution by external parties, typically governments using taxpayers money.’
Reserve Bank of New Zealand http://www.rbnz.govt.nz/search?q=OBR
I found the details of Bail In / OBR difficult to find such that I phoned the Reserve Bank and was walked through the following: Regulation & Supervision then looked for ‘Search’ on type right hand corner and type in ‘OBR’. The first article gives you a pretty picture – but vague on specifics.
The Corbet Report – Bail In – The Birth of the New Financial Order
A wonderful site for grasping the big picture on a diverse range of economic and social issues – on one page. The second link provides context for New Zealand’s debt across three different measures.
Economic Collapse Blog
When I first discovered this site I thought the title was rather doomsday. However the substance of Michael Snyder the site author, is evident in his writings. Look also at his ‘About’ page.
Anchored in historical trends going back to the year dot such that his predictions on economics have been right on the money. His film Forecaster is worth a look. Now on you tube it is shortly to be made into a feature film. A sobering take on the restrictions placed on individuals and the resoluteness of one man who would not be bullied.
I only recently discovered Ann Pettifor’s work. Ann is Director of Prime Economics
A song about Freddie Mac and Fannie May. Her presentation to Tedx Berlin which gives a wider picture of the times we are living through.
* Martin Niemoller the attributed source – but not absolute.
*Thomas Hobbes. Original source of this quote eludes me currently.
The Great Piggy Bank Robbery. Sourced Wikepedia 23/3/2017
Banksters Sourced Libertizreig.com
Humpty Dumpty. Sourced Portal Literature Wikepedia
Little Red Riding Hood. Gustave Doré (1832-1888) http://library.tulane.edu/exhibits/exhibits/show/fairy_tales/gustave_dor–