One of the country’s last respected financial figures has finally spoken out today, with fresh advice on how to keep your money safe, following the Royal Commission into the Banking Sector.
Scott Pape, the cult hero, financial advisor and author of the best selling and wildly successful Barefoot Investor has issued some interesting directions on how to avoid falling prey to the big financial institutions.
His advice follows the Interim Report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry which was handed down last week.
The commission and report have found numerous shocking examples of unethical and illegal conduct within the industry, and since revealed that the Australia Securities And Investments Commissions is as gutless as a 4 day old Woolworths Deli Section Snapper.
Pape, or ‘Barefoot’ as he is more commonly known, told The Advocate today in an exclusive interview that you just can’t trust the banks.
“The best way to look after your money is by digging a little hole down the side of your house where you can bury your money in a biccy tin,” Pape said.
“Well, any tin will do really. And for my younger disciples who live in units or rental accommodation because of a corrupted housing market, you guys should hide yours in a smaller tin, double-glad-wrapped, in the toilet cistern.”
“Not even ING can save us now,” Pape said.
“Get yourself a gun, and protect your property”
“Protect your family. They are coming for you”
