Occupy the GLOBE! - International Social/Political

Nevertheless, it clearly illustrates that western governments serve minority Corporate and Banking interests NOT the Democratic MAJORITY.

The most efficient REMEDIAL response to this type of draconian political imposition/Penalty Tax etc, is to ‘Occupy’ political capitals and force the government to HONOUR DEMOCRATIC principles or face removal by the DEMOCRATIC MAJORITY.

There is no better vehicle for an immediate political response than a decentralised movement with popular support -- 60% of the population is an overwhelming and very powerful majority, notwithstanding that only a percentage are required to march on the Capital and deliver a message from the majority.

Every nation and culture is thus able to address issues specific to its needs and DEMAND that governments OBEY Democratic principles and the Majority or suffer the LEGAL consequences – removal by POPULAR DEMAND!

The following video highlights the universality and effectiveness of QUICK RESPONSE, decentralised, leaderless movements coordinated via the universal DIGITAL medium. The people of the world are ONE in this struggle.

Divergent sources seem to agree that Google is ACTIVELY SUPPRESSING/backgrounding (not blocking) sites that promote the 'Occupy' movement -- the CURE is straightforward, use every DIGITAL communication means available, SMS, (texting), Emails etc, and continue hitting and LINKING sites that Google suppresses -- spread the word DIRECTLY. Google is Corporatist, big time! Take no Corporation presenting as neutral, for granted.

The chairman of Google, Eric Schmidt, who is currently facing an anti-trust inquiry, is in active partnership with the CIA and attends Bilderberg meetings with Obama, Clinton, Bernanke and the rest of the WORLD'S cockroach, criminal elite -- FACT!

Make no mistake, THIS FIGHT/movement is LIBERTY against all forms of TYRANNY!

We are ONE.

you forgot to add the distribution of information-packed CDs and DVDs to the list -- we have many tower burners and recommend their use as an efficient, INDEPENDENT, readily accessible means of INFO dissemination. Tower burners are inexpensive and highly mobile ;o)

disc recipients are encouraged to burn and distribute at least three copies.

DESPITE all the heat and light in Canberra this week on carbon tax and asylum-seekers there was one piece of legislation that did receive bipartisan support.

It sounds like arcane financial speak, and it can defy clear explanation, but the passage of covered bond legislation is a critical moment in Australia's banking industry.

The change, ordered to help diversify banking's funding base, goes to the heart of government's responses to the credit crunch that engulfed the world financial system in 2008 and has been threatening to do so again as the European debt crisis rolls on.

Labor, under growing pressure from the opposition and consumers, outlined its plans in December last year to make the retail banking market in Australia more competitive.

With the four major banks -- CBA, Westpac, NAB and ANZ -- having 80 per cent of the market, the government faced calls to inject a sharp dose of competition.

At the top of Wayne Swan's agenda was the introduction of covered bonds, the debt instrument popular among European banks, and even in New Zealand, that Australian banking regulators had long opposed.

The bonds essentially allow the Australian banks to diversify their funding base and reduce reliance on the volatile wholesale funding markets.

The costs associated with raising funds through bonds is also significantly cheaper than usual market sources.

The bonds cover a pool of mortgage assets, which is refreshed constantly to maintain the size of the initial principal. The bonds also have a higher credit rating because of the investors' recourse to the underlying assets and the issuer.

The government set a cap that the banks cannot issue bonds worth more than 8 per cent of their total assets -- a compromise between the initial 5 per cent proposal and the banks' demands for 10 per cent.

A recent Citigroup analysis found that, with the cap in place, the Australian banks could raise up to $127 billion in 2012 and $135bn the following year.

Commonwealth Bank, because of its size, could issue up to $36bn in the first year, Westpac $35bn, NAB $29bn and ANZ $27bn.

Debt market observers are now waiting to see which of the banks will test the water and issue the first covered bond, most likely to be aimed at European markets.

Clayton Utz partner Andrew Jinks said the banks would be keen to use the new debt instruments.

"There's going to be a lot of interest in covered bonds," he said.

"The banks don't need a lot of capital at the moment, but I think they will because it's a new source of capital and secondly they will be keen to be seen to have taken advantage of a new funding opportunity."

The major banks are currently mostly funded for the year, with slow lending growth and a strong deposit base, but many believe a "first-mover advantage" can be gained by carrying out the initial issuance.

Despite the fractured nature of the eurozone, covered bonds are a long-standing feature in continental debt markets and the appetite to buy AA-rated Australian bank bonds is likely to be high.

Deutsche Bank head of credit research Gus Medeiros said covered bonds would allow the Australian banks to target a new investor base for funding.

"It's a positive for the banking system overall, especially for the major banks, because it enables them to have funding flexibility," he said.

"The investor base, especially in Europe, is very large and if the banks can have more flexibility when market conditions are challenging, that's clearly a positive."

The legislation sailed through both houses of parliament this week with the rare backing of both sides of politics.

The changes required the Banking Act to be altered to make sure depositors remained equally protected alongside bondholders if a bank were ever to strike financial trouble.

One of the benefits of the bonds has been the potential savings to the banks. A E500 million covered bond was issued this week by ANZ National Bank, which was priced at the mid-swap rate plus 95 basis points. Analysts estimate a normal unsecured debt deal would have cost the bank at least 150 to 170 basis points above the swap rate, given the current market conditions.

The Citi analysis estimates the interest savings for the banks from being less reliant on funding markets dictated by credit spreads could be up to $140m for the top four banks.

A saving of that size would increase banks' net interest margins by up to 2 basis points.

© 2011 News Limited

Demonstrators worldwide shouted their rage on Saturday against bankers and politicians they accuse of ruining economies and condemning millions to hardship through greed and bad government.

Galvanized by the Occupy Wall Street movement, the protests began in New Zealand, rippled round the world to Europe and were expected to return to their starting point in New York.

Most rallies were however small and barely held up traffic. The biggest anticipated was in Rome, where organizers said they believed 100,000 would take part.

"At the global level, we can't carry on any more with public debt that wasn't created by us but by thieving governments, corrupt banks and speculators who don't give a damn about us," said Nicla Crippa, 49, who wore a T-shirt saying "enough" as she arrived at the Rome protest.

"They caused this international crisis and are still profiting from it, they should pay for it."

The Rome protesters, including the unemployed, students and pensioners, planned to march through the center, past the Colosseum and finish in Piazza San Giovanni.

Some 2,000 police were on hand to keep the Rome demonstrators, who call themselves "the indignant ones," peaceful and to avoid a repeat of the violence last year when students protesting over education policy clashed with police.

"YES WE CAMP"

As some 750 buses bearing protesters converged on the capital, students at Rome university warmed up with their own mini-demo on Saturday morning.

The carried signs reading "Your Money is Our Money," and "Yes We Camp," an echo of the slogan "Yes We Can" used by U.S. President Barack Obama.

In imitation of the occupation of Zuccotti Park near Wall Street in Manhattan, some protesters have been camped out across the street from the headquarters of the Bank of Italy for several days.

The worldwide protests were a response in part to calls by the New York demonstrators for more people to join them. Their example has prompted calls for similar occupations in dozens of U.S. cities from Saturday.

Demonstrators in Italy were united in their criticism of Prime Minister Silvio Berlusconi and angry at his victory in a vote of confidence in parliament on Friday.

The government has passed a 60 billion-euro austerity package that has raised taxes and will make public health care more expensive.

On Friday students stormed Goldman Sachs's offices in Milan and daubed red graffiti. Others hurled eggs at the headquarters of UniCredit, Italy's biggest bank.

New Zealand and Australia got the ball rolling on Saturday. Several hundred people marched up the main street in Auckland, New Zealand's biggest city, joining a rally at which 3,000 chanted and banged drums, denouncing corporate greed.

About 200 gathered in the capital Wellington and 50 in a park in the earthquake-hit southern city of Christchurch.

In Sydney, about 2,000 people, including representatives of Aboriginal groups, communists and trade unionists, protested outside the central Reserve Bank of Australia.

"REAL DEMOCRACY"

"I think people want real democracy," said Nick Carson, a spokesman for OccupyMelbourne.Org, as about 1,000 gathered in the Australian city.

"They don't want corporate influence over their politicians. They want their politicians to be accountable."

Hundreds marched in Tokyo, including anti-nuclear protesters. In Manila, capital of the Philippines, a few dozen marched on the U.S. embassy waving banners reading: "Down with U.S. imperialism" and "Philippines not for sale."

More than 100 people gathered at the Taipei stock exchange, chanting "we are Taiwan's 99 percent," and saying economic growth had only benefited companies while middle-class salaries barely covered soaring housing, education and healthcare costs.

They found support from a top businessman, Taiwan Semiconductor Manufacturing Corp (TSMC) Chairman Morris Chang.

"I've been against the gap between rich and poor," Chang said in the northern city of Hsinchu. "The wealth of the top one percent has increased very fast in the past 20 or 30 years. 'Occupy Wall Street' is a reaction to that."

Demonstrators aimed to converge on the City of London under the banner "Occupy the Stock Exchange."

"We have people from all walks of life joining us every day," said Spyro, one of those behind a Facebook page in London which has drawn some 12,000 followers.

The 28-year-old, who said he had a well-paid job and did not want to give his full name, said the target of the protests as "the financial system."

Angry at taxpayer bailouts of banks since 2008 and at big bonuses still paid to some who work in them while unemployment blights the lives of many young Britons, he said: "People all over the world, we are saying: 'Enough is enough'."

Greek protesters called an anti-austerity rally for Saturday in Athens' Syntagma Square.

"What is happening in Greece now is the nightmare awaiting other countries in the future. Solidarity is the people's weapon," the Real Democracy group said in a statement calling on people to join the protest.

In Paris protests were expected to coincide with the G20 finance chiefs' meeting there. In Madrid, seven marches were planned to unite in Cibeles square at 1600 GMT (12 p.m. EDT) and then march to the central Puerta de Sol.

In Germany, where sympathy for southern Europe's debt troubles is patchy, the financial center of Frankfurt and the European Central Bank in particular are expected to be a focus of marches called by the Real Democracy Now movement.

(Reporting by Reuters correspondents; Writing by Philip Pullella, Angus MacSwan, Alastair Macdonald and Nick Macfie; Editing by Andrew Roche)

© 2011 Thomson Reuters

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