Area News letters to the editor - Aug 9, 2017.

Husband-wife wisdom

I appreciate the love of Deph Shea for her late husband Frank McGlashan who died in 1976 (Area News – August 7, 2017) I have noted particularly these words of Deph Shea, “I never stopped loving him, we are still soul mates".

These words of Shea have spiritual significance that the human soul never dies

One Indian sage Ram Krishan died leaving his loving wife behind.

His wife used to serve him  food regularly in his room even after his death thinking that he is still there in his room.

My wife Shindo (Surinder Kaur) serves me well in my old age I often say to her, “I am a Yogi (Yoga practioner).

A Yogi lives and dies according to his will.

Tell me when you are going to die I shall die a day before you.

"The Hindu God Lord Siva, the founder of Yoga, says to his wife Parvati "Oh Parvati, you are always on the left side of my body”.

He further says, “The internal Parvati is more important than the external one".

According to Indian religions, “reality is dualistic both male and female”.

“If you want to reach up to God think Him as your husband and serve Him as a faithful wife.

Amar Jit Singh, Griffith.

Open letter to Sussan Ley

We agreed to a debate on banking.

My concerns are now shared by the Sustainable Australia Party who have members in Farrer and will probably contest the next election.

They share my concerns after seeing the  film ‘The Big Short’ where actors play real people in the lead up to the  2008  Financial Crisis. As now there was a derivatives and overvalued property bubble. The boffins who could see what was about to happen planned to make millions by ‘shorting’ the banks. However they had to settle for only a million each because  certain banks (Deutche, Goldman Sachs, J P Morgan and others) decided to short Bear Stearns, Lehman Brothers and many other smaller banks. They made a killing while nations lost trillions.

LOVE: Amar Jit Singh appreciates the love of Deph Shea for her late husband Frank McGlashan, who died in 1976 (Area News - August 7, 2017)

LOVE: Amar Jit Singh appreciates the love of Deph Shea for her late husband Frank McGlashan, who died in 1976 (Area News - August 7, 2017)

The Reserve Bank of Australia have a graph of ever increasing derivatives with these comments:

‘Australia’s banks have become addicted to derivatives, the fraudulent and toxic betting instruments that caused the 2008 financial crash. While derivatives betting globally levelled off for a few years after 2008, in Australia it exploded. The combined derivatives exposure of Australia’s banks has risen 163 per cent in eight years, with Bank’s consolidated off balance sheet business now in excess of $35 trillion.’

Australia Prudential Regulation Authority APRA publishing Prudential Standard CPS 226. On page 10 it showed that it was calling for each of the Big Four to reduce their derivatives to $4.5 trillion (with a ‘t’) by 1st September 2017.

APRA – as the banking regulator -  said that the requirement was legally binding. This will be the fourth time that I have asked if this requirement has been or will be legislated.

We are now only weeks away from the first of the annual reductions sought by APRA.  

In your letter to me you said:

‘Australia's approach to managing risk in the banking sector has been to focus on strong oversight by the Australian Prudential Regulation Authority (APRA). Banks continue to be intensively supervised by APRA and the Australian banking system continues to perform strongly.’

We will be looking for your responses well before 1st September.

Brian Mills, Griffith

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