Two-faced Joe Hockey lied about the GFC, is lying now about your deposits
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Citizens Electoral Council of Australia

Media Release  Friday, 23 August 2013

Craig Isherwood‚ National Secretary
PO Box 376‚ COBURG‚ VIC 3058
Phone: 1800 636 432
Email: cec@cecaust.com.au
Website: http://cec.cecaust.com.au
 

Two-faced Joe Hockey lied about the GFC, is lying now about your deposits

Joe Hockey, the politician leading the denials that Cyprus-style “bail-in” legislation to seize deposits is planned for Australia, is a liar, who the CEC has caught out misleading the public on a matter of the most serious financial consequence.

The CEC’s very latest New Citizen newspaper includes documentary evidence that in 2007, in virtually the same breath as he assured a constituent that there definitely would not be a financial crisis, Hockey used information from his well-connected banker wife to tip off a mate that a huge financial crash was coming.

[Click here to view the document that captured Hockey’s lie.]

On 21 August 2007, a year before the global financial crisis erupted in September 2008, Hockey replied to a letter from a CEC member who is a constituent in his electorate of North Sydney, “I however disagree vehemently with your analysis that the world is facing a collapse of the financial markets. The last few days have indicated that the financial markets, with the support of central banking institutions, are able to meet the demands that have been placed on them.”

However, a 19 May 2013 puff-piece in Sydney’s The Sunday Telegraph, promoting Hockey and his wife Melissa Babbage as a “power couple”, reveals that when Hockey wrote this 2007 letter, he must have known it wasn’t true.

The Sunday Telegraph piece reports that “a year before the global financial crisis hit”, i.e. the very time Hockey was writing that there would not be a financial collapse, Hockey called Channel 7 television host David Koch with the urgent news that his wife Melissa—the then-head of global finance for the world’s biggest derivatives trader Deutsche Bank—was selling off the family’s investments in preparation for a financial crash.

Koch recounted to The Sunday Telegraph that Hockey phoned him and said, “Melissa, she is selling everything. I’ve convinced her to keep the house, but she reckons we’re heading for the biggest global economic event since the Great Depression.”

Koch told the story to praise Babbage as “an absolute guru”; Hockey confirmed the story to The Sunday Telegraph, saying, “She saw it coming. It’s true.”

Why would Joe Hockey “vehemently” tell a member of the public that there would not be a crisis, when he was taking personal steps to protect his own family and friends from just such a crisis?

Hockey’s two-faced dealing with his constituent in 2007 exposes him as worse than a fraud, actually as a disinformation agent for the bankrupt and corrupt banking system which is desperate to get bail-in enacted before the next phase of the global financial crisis erupts.

So if your MP tells you that Joe Hockey reassured him/her that there is no plan to legislate Cyprus-style bail-in powers to seize Australians’ deposits, you can take that alone as proof—there is!

If Hockey becomes Treasurer, he will be the minister who signs off on the bail-in legislation that is in train in Australia. To stop the bail-in law in its tracks, join the CEC’s nationwide mobilisation:

Click here to join the CEC as a member.

Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.




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