WENDELL HUSSEY | Cadet | CONTACT
One of the nation’s banking cartel has today revealed some interesting news.
Westpac, one quarter of the cartel that controls our nation’s money, has published news revealing that they somehow managed to make $7.4 billion in profit.
The shocking news comes despite the majority of the nation being slugged with countless rate rises and the flow on effects of an economic crisis extenuated by our government, our housing bubble, the military-industrial complex and the people who control our energy sources.
While the peasants who make the world turn have been told that tough economic times are unavoidable and rate rises are a necessary evil – it seems like those rates rises aren’t exactly an evil for everyone.
After the Commonwealth Bank posted a monster profit, it was confirmed by Westpac that they actually made 7.4 billion dollars this year, mostly because of the necessary evil of interest rates.
A large part of the profits generated by the bank come from lifting the interest rates on borrowed money much more quickly than they lift the rates on money in savings accounts.
The practice is obviously very profitable when there are multiple rates rises in a short period of time, with the likes of Westpac cashing in heavily on the fact that the government, the reserve bank and the economic geniuses that run our university system don’t actually know how to control the economy like they say they do.
When contacted for comment about why the bank had made billions of dollars when all they were doing is ‘passing on rate hikes,’ Westpac’s highly paid 20 man corporate comms team didn’t respond.
More to come.