Smash the dirty filthy greedy Aussie banks with a windfall tax now!

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No fucking way!

ANZ made $2billion in profits???

ANZ records first $2b profit: ‘Keeping close eye on recent home-buyers’

ANZ’s chief executive says the bank is keeping a close eye on borrowers who were stress-tested for their home loans at a rate below current market interest rates.

The country’s largest bank posted its first $2 billion annual profit on Thursday.

In the 12 months to September 30, it made a cash net profit after tax of $2.064b, up 8% compared with the year before. Its statutory net profit after tax, which includes gains and losses from economic hedges, was $2.229b, up 20%.

Net interest income was up 10%. Chief executive Antonia Watson said the 8% increase in profit was a result of a combination of pent-up economic activity after the pandemic and a buoyant housing market.

As interest rates rise and a global recession looms, NZ’s corporates continue to make disgusting monopoly rentals from our economy!

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Why on earth are we not talking about the obscene wealth the NZ Banks have made over Covid?

ASB made $1.4billion in fucking profit…

ASB bank posts increased annual profit of $1.42 billion

…and the Banks collectively made $6billion in profit…

Record profit: NZ banks made over $6 billion in 2021, KPMG report

…while charging Kiwis $5billion in interest…

Banks post record profits and close in on $5 billion in interest income as mortgage costs spiral

…why aren’t we hitting them with a windfall tax so we can rebuild the infrastructure that will allow us to grow back from Covid?

Britain passed windfall tax on Gas and Oil profits, why can’t we do it on our banks?

One reason is because our debate is shallow and petty and stupid.

Right now people are bitching about Rugby NZ clashing with the Black Ferns, or Fuck Boy Island or whatever dumb shit Seven Sharp and the Project are dumbing us down with!

We are a shallow juvenile settler nation with a very low imagination horizon and all the social maturity of a can of day old coke-cola.

The Right ignore these obscene profits for Banks because they are the political party for Framers, Property Speculators, Bankers and rich Chinese Business interests.

The Left are too busy cancelling people for pronouns, not pronouncing Te Reo properly and not supporting Womens sport.

The Right are great at tricking poor people that their interests are the same as corporations while the Left are focused on cancelling everyone who is a heteronormative white cis male.

Meanwhile the 1% are laughing all the way to the bank.

Our brittle weakness is collectively beneath the challenge of our times.

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35 COMMENTS

  1. Remember this was all started by the Beavis and Butthead of Finance – Robertson and Orr by fueling the plandemic economic by giving the banks cheap money to flood the property market and allow people the cash to buy a new jetski and outdoor pizza oven.

    By the time 2040 rolls in “Robertsonomics” will be a buy word for economic mismanagement

  2. Aussie banks do not help or support Kiwi’s and Kiwi business, it’s just price gouging profits out of NZ and money laundering to new residents with the NZ government not doing even the basics of regulation that OZ does.

    Australian banking inquiry: Misconduct ‘driven by greed’
    https://www.bbc.com/news/world-australia-45674716

    No commission of enquiry of banking in NZ unlike OZ that found a lot of bank profiteering/moneylaundering and fined them. NZ government said, nothing to see here.

    ++ the only enquiry our government seemed reluctant to undertake.++

    • So-called Aussie Banks

      ANZ Australia ownership
      Citigroup – 41%
      JP Morgan – 14%
      HSBC – 18%
      National Nominees – 11%

      Westpac ownership
      HSBC 17%
      JP Morgan 13%
      National Nominees 10%
      Citigroup 5%

      BNZ owned by National Aust. Bank
      ownership
      HSBC 16%
      JP Morgan 12%
      Citigroup 4%
      National Nominees 10%

      ASB owned by Commonwealth Bank of Aust.
      ownership
      HSBC 15%
      JPMorgan 12%
      National Nominees 8.5%
      Citigroup 5%

      Source: https://finty.com/au/research/big-four-ownership/

        • who cares about the actual ownership…they don’t act in NZs interests for sure and that’s all I need…I can only go by the name on the shingle.

          • @ G. “Who cares” !? I fucking do. I care quite a fucking bit mate! Are you blind or are you simply something else altogether? I care hugely about AO/NZ’ers living in poverty in cars with hungry kids. While four foreign owned banks take billions out of our economy in net profits for foreign share holders and you don’t care about their actual ownership! Jesus Christ man.

            • don’t go off on one countryboy go back read my post and the one I was replying to , sit down and take a double dose of chill pills.

  3. “We are a shallow juvenile settler nation with a very low imagination horizon and all the social maturity of a can of day old coke-cola.” Don’t think Austrlia is much ahead of us in that description. How have they done so much better then to become our bankers. As said many times, we can become shareholders in the Australian banks and get the profits back here – either by buying shares as an individual or the government via the NZ Super Fund or ACC.

    • +1 Marco+Battler

      Maybe better regulated banks are the answer like better regulated politicians. Trump, Boris, Liz Truss is that the best that the west can now offer? Meanwhile in Russia and China, ruling till death do us part, and what ever they decide, goes, any dissenter or difference of opinion goes.

      Left should be romping home, but can’t because the woke are the pre-communist destroyers of democracy in league with the post-capitalist Trickle down globalists.

      • Probably a well deserved salary being such an effective operator.
        NB After usage over probably 7 years I’ve assumed your ‘ ponytail puller’ is code for Sir John Key.

        • Well Bob he spent his time in office setting the field for the banks. The “rock star” economy involved stoking a housing Ponzi scheme. That’s why I don’t get why you criticise labour for boosting further asset values. It’s what Luxon and Willis are desperately trying to do with removing the bright line test.

        • “Effective operator” Yes he was, he set out to make his mark and by god he was effective, well at least for one per cent of the country.

          “NB After usage over probably 7 years I’ve assumed your ‘ ponytail puller’ is code for Sir John Key.”

          I’m not certain what that mish mash of a sentence even means?

  4. “The Left are too busy cancelling people for pronouns, not pronouncing Te Reo properly and not supporting Womens sport….
    ….the Left are focused on cancelling everyone who is a heteronormative white cis male”. You have described, the wokistas not the real left.

    The Real Left are interested in economics, equality and class war, not skin colour and how you have sex. As for equity (total assets minus total liabilities), how can that be calculated socially?

  5. Remember this was all started by fraudulent (claiming house expenses) Bill English, the money manager ponytail fetish snake oil salesman Key( ANZ Chairman, now there’s a surprise) and Graeme Wheeler. Think of how well off and paid our health workers would be, or our hospital infrastructure would be if National had spent during their ” rockstar economy”. Think of the 1000’s of nurses trying to qualify if they knew their occupation was a well remunerated profession.

    • Gosh you really are a sad person.
      After 5 years without a National Government I would have thought you are due to cheer up,then again the Left and happiness are strangers.

      • Assumption is the mother of all fuck ups!
        Everyone knows nurses were underpaid by the National government, everyone. Why do you think they are trying to catch up for all those lost years?
        I guess it’s easier for you to be clueless.

    • @ SK. You’re an idiot. But don’t worry, that’s necessarily a bad thing. We can’t all be rocket surgeons after all. None the less, thanks for outing yourself. Now we now know to never take you seriously.

    • Hmm… the banks that take our deposits that they use to loan us you mean. Please don’t believe for one moment we loan the banks, particularly when they only lean pay interests on our deposits at a fraction of mortgage rates.

  6. They will probably work out how to budget for any additional taxes which effectively would see the customers of their services paying more.

  7. There’s only five million of us. We literally don’t need foreign banking here. Unless… there’s more money to be made from us on a dollar per head ratio than is being let on.
    Not only don’t we need ANZ, ASB, BNZ and Westpac but we could really do with those record net profits they make out of us then move off-shore as we work ever harder to keep ahead of their snapping jaws. Personally, I’m amazed and surprised the ANZ, ASB, BNZ, and Westpac are not smouldering ruins by now. The power of social control I guess. Is it Professor Stanley Milgram 101?
    Here’s an idea. It’s a good one and it’s one of mine. How about you and me and you other over there simply refuse to bank with them? Close your accounts with them and go to our own banks. There are several who offer far better deals on mortgage rates, you get a card etc and you’re part of a collective whereby it’s the depositors/customers own the own bank. Go there. Starve the ANZ, ASB, BNZ and Westpac into oblivion and obscurity. Give it a try?

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