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                                               What is interest rate gouging ?
Interest rate gouging is similar to charging full price for a can of beans that should have 400grams of content but on inspection has only 360 grams. 

Every can of interest includes a charge called loan impairment  that the bank receives from home buyers to recover losses should anyone not be able to repay their home loan. Loan impairment  is recorded in the banks accounts and is assessed having regard to losses realized, the risk of changing economic circumstances and forward budgeting. The Government guarantee of 15% sim means that the loan impairment charges included in the interest charged to the home buyer will not be required as the Government will refund the bank for losses incurred and like the beans removes the charge from the can of interest.

The chart attached " The Greedy Banker" sets out what happens to interest rates when loan impairment is removed .
Perhaps the reader whose loan is protected by LMI insurance or the Government guarantee should check in with their bank in case the bank forgot to remove the LOAN IMPAIRMENT  charge from the can ? 
Perhaps the ACCC would like to comment they have experience in the matter of price  gouging !

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                                                   Banking Bandits Exposed 
     
           This website is designed to start the conversation of how tax reform will address the financial hardship of the many Australians who
           pay 40% of their wages to the bank or the landlord to keep a roof over their head. 
           The banks PONZI driven by the PROPERTY LADDER has destroyed housing affordability while the banks have
           financed capital gains in excess of half a trillion ($500,000,000,000 million) in only 4 years.  It is why the banks profits
           are rising and why the greedy banks are stealing 40% of hard-working Aussies wages to keep the Ponzi alive.
           It is what is referred to as paying capital gains forward financed by the greedy banks to increase their profits and
           destroy housing and rent affordability. A roof over one's head is a human right as is food and employment at solid Australian       
           companies including Coles and Woolies but apparently not according to our Government and the ACCC.
           Employment and hard work produce economic value that should be invested in high-speed rail, established and emerging
           Australian companies, a new electricity grid and government services. Not paying for excessive capital gains of no economic value.
          The ACCC is presently targeting Coles and Woolies both great Australian companies. When I was going to school that was
           a RED HERRING .... to take the heat off the banks whose profits are growing from financing capital gains.
                   
                                      I always knew there was something fishy about banks!








                                                                                       
                                                                                  WAKE UP AUSTRALIA   !
             The problem is most politicians and including the Prime Minister and the Governor of the reserve bank are infected with
             a cancer called Negative Gearing, and they put their personal interest above that of the struggling Australians and now they
             even want to tap into young Aussies superannuation to support the banks Ponzi which has run out of steam.    DISGUSTING​ !
            If you are fed up with Party politics creating divide and destroying   "A Fair go for all Aussies " then make your  vote count
             and hold Liberal and Labor politicians accountable for their decisions.
                                                                                 vote     ONE NATION 
                         ONE NATION don't do CARVE OUTS ...all AUSSIES are treated equally !
                         Labor will give you a piece of the political pie ( CARVE OUT ) provided you must vote for them ! 
                         One Nation will reduce the pensionable age for all working Aussies to 65 including women.

                          QUESTION :Was your current mortgage provided subject to the banks risk of doing business being removed 
                          by LMI Insurance or the Govt 5% deposit scheme ? Best check in with your bank and enquire whether interest
                          payments include a charge to recover the risk of loss to the bank ( loan impairment ) that insurance has
                          removed from the loan contract and will not be realized by the bank ?
                         That mode of operation  is what the ACCC refers to as PRICE GOUGING !

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