How to incense whole industries ANZ style
They declared some law abiding businesses were unworthy of their loans, and thousands of Australians in the steel industry, farming, and manufacturing are livid. The bank is now telling its customers that interest payments are not enough, and those with 50% or more of their operations in coal must diversify. They may well diversify right out of ANZ — a boycott is being discussed. And for shareholders this preening would seem like a dumb way to lose customers. But in Australia it’s worse than that.
The right to earn interest by loaning money they mostly don’t have (by
creating paper currency from thin air) is a glorious gift bestowed on them by an Australian banking license. It’s a perpetual money making machine, granted by a government group called APRA. ANZ is one of The Big Four Banks in Australia. It is supposed to provide an essential service, and in return APRA protects it by using the power of the state to run any new competitors off the ranch and right into jail for counterfeiting. It thus behooves ANZ to serve all law abiding Australian customers equally, and not discriminate based on religious beliefs about weather control.
Don’t look now, ANZ is selling carbon credits
Rather than saving the planet though, ANZ’s climate passion looks like an extortionate scheme to enrich ANZ. To twist the knife, it appears the ANZ sent out a note to clients explaining that
it would grow its own business while it “helped” them to reduce carbon by selling them carbon credits and giving them advice on how to make money off the great carbon credit ponzi scheme themselves. ANZ calls this practical, Ian calls it bastardry.
ANZ explains how customers forced to “diversify” can buy carbon credits from … ANZ
Ian W writes again to the entire board of the ANZ (and most of the Australian parliament).
“Acts of bastardry… don’t deserve a banking license”
A Very Good Evening to you ANZ Board,
I am a long term Shareholder of your Bank and a passionate supporter of Australian manufacturing, mining and farming.
With your Bank’s recent anti-coal announcement – which attacks every single Australian involved in steelmaking, aluminium smelting, food processing, manufacturing, plastics, fertilisers, explosives, other metal smelting and farming, it is clear to me as a Shareholder that the ANZ Management group has lost the plot – and need to be stood down by the Board forthwith.
Your Bank has extreme arrogance and disregard for genuine shareholders and the Australian people – epitomised perfectly by the fact that as a result of our phone conversation and several emails, Shayne Elliott is now blocking my emails and refuses to talk.
He has no right to treat genuine shareholders with such contempt – even if he disagrees with 99% of what I have to say. Somebody needs to tell him, thousands of genuine Shareholders like us own the damn Bank and he works for us! Please pass this email on to Shayne Elliott because this country cannot have Chief Executives of organisations like your Bank destroying our businesses and futures.
Now we in the Australian Steel Industry understand perfectly what false virtue signalling is and we understand why the ANZ is engaged in exactly that. It is because the Bank has, is and can in future, make an absolute fortune out of ripping off innocent Australians through rent seeking activities including carbon trading and funding renewables. Secondly it is because the ANZ Management just go to water when confronted with feral environmental activists at head office and when pressure is applied by partly overseas funded organisations like Market Forces and the Australian Conservation Foundation.
You see, ANZ, we know – that you know – that the concept of Human induced Climate Change is hotly scientifically contested – and in fact that the most powerful Nation in the Free World right now has rejected Paris – and the most powerful Nation in the non-free world is also not bound by Paris – by using the bulldust concept of being a “developing” nation.
Who installed such weak, gutless management into the ANZ Bank that they attack all of our businesses just to appease a few feral overseas funded activists? The Board of the ANZ must stand down every senior leadership person of the Bank immediately please.
A link below from the ABC describes the mad, recently released policy of ANZ – and the additional links below describe exactly what the ANZ has been up to with your customers over the last few years.
With that consistent behaviour from the Bank, you expect us to believe that your renewable objectives are honourable!!!!?????
Could someone from the ANZ Board please contact me, Shayne Elliott isn’t game to talk and this needs to be discussed with a human being at the very top level of the Bank.
About now is a very good time for every one of the hundred thousand people in the Australian steel industry, everyone associated with smelting of other metals, papermaking, mining, manufacturing food processing and farming to put a total boycott on the ANZ Bank.
Acts of bastardry, like the ANZ has just executed, deserve nothing less!
Morrison should withdraw the licence of the ANZ Bank to operate.
I look forward to being contacted, thankyou and best regards,
Ian W
Ian helpfully included links showing that “Saving the Planet” doesn’t fit ANZ’s pattern of behaviour:
What’s wrong with overcharging, laundering and gouging a few customers on the way to saving the Earth?
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ASIC sues ANZ for gouging customers – afr.com
ASIC says when the bank confessed it only identified around half the unfair transactions and did not characterise the conduct as significant. It alleges this was a breach of The Corporations Act …
The ANZ has sacked 200 bankers this year for misconduct | Business Insider
The royal commission has labelled the actions of the major four banks — including charging for services not provided — as dishonest and the result of greed.. Elliott is the third bank CEO to …
ANZ to shed more than $700m in loans to thermal coal projects by 2024, leaked document reveals – ABC News
Australia’s second-largest bank plans to cut lending to thermal coal projects by 75 per cent within the next five years, or about $700 million, a leaked document reveals.
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The ANZ bankers declared this week that they are really in the business of saving the Earth, even if Australians didn’t vote for it.