Faceless Peoples Assembly notice ::reprint & distribute
a peaceful peoples Assembly ... Child Safe area .... a City of Sydney Alcohol Free Zone
Stop the Banks Greed
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a leaderless Assembly of the people by the people for the people
supporting the principles of occupytogether.org
follow us on Twitter @occupySYDNEY
a leaderless Assembly of the people by the people for the people
Stop the banks Greed = ?
ReplyDeleteThe Towers Watson Global Pension Assets Survey 2011 has found that Australian superannuation fund (pension) assets are estimated to have reached almost US$1.3 trillion (Source: Austrade). Let's say $1 trillion aussie dollars after the recent declines in global markets. If you did not know, a large chunk of this money is invested in Australian banks.
A self-funded retirement is becoming more critical if Australians want to see their savings last an ever-increasing distance.
Among Australia’s banks are some of our biggest businesses, so you would expect them to make large profits. When big businesses are well run, they make good profits, and this benefits all Australians, helping YOU to meet your financial goals.
Who owns the banks? You.
All Australians benefit from a successful banking sector, not just the 17 million bank customers. Over one and a half million direct shareholders benefit from dividends and an estimated eight million indirect shareholders also benefit from investing in banks through superannuation funds.
An estimated 8 million Australians hold shares, either directly or indirectly, in an Australian bank. So you are probably one of the owners of our banks.
Over 1,500,000 Australians have invested their savings directly in bank shares. These shareholders include tens of thousands of retirees, many of whom rely on the dividends from their bank shares for support income.
Then there are the estimated 8 million Australians who, through their superannuation schemes or managed funds, are saving for retirement.
Where does bank income and profit go?
Each year, Australian banks share over $9 billion in dividends with millions of investors.
Shareholders spend or further invest dividends, creating more jobs and growth in our economy.
Profitable banks also invest for the future. Australian banks are doing just that by reinvesting over $4 billion dollars into growing their businesses, including better technology, expanding of the range of products and services offered to customers and training staff.
The banks also pay from their income more than $32 billion in interest on deposits and investments held in their care. (Source : ABA)
Profitable banks contribute to the Australian economy and are essential for the security and stability of the Australian financial system:
Among the benefits:
More than 145,000 people are employed by banks in Australia, and 60,000 overseas. Salaries totalling $8,000 million a year are injected into the economy.
Thousands of small and medium businesses supply goods and services to banks, providing jobs and income for tens of thousands of people.
Banks pay over $5 billion year in Australian company tax - more than any other industry - which helps provide schools, hospitals, roads and social security benefits. This amounts to 17 percent of the total amount of company tax paid in Australia.
More than $400 million is paid in state and local government taxes, rates and levies.
Australian charities, sporting, arts and community organisations receive over $30 million dollars each year from banks in donations and sponsorship.
Banks regularly collect donations for charitable purposes, including funds for victims of floods, fires and other natural disasters.
I recommend that rather than trying to destroy banks you meet a financial planner who will have a cup of coffee and improve your financial literacy, explain to you how to reach your goals and help you with your superannuation and retirement plans. Those wannabe protesters are welcome to connect and get a 30 minutes no-obligation session with me at my expense. I guarantee it will be more fun that parading screaming “take down the banks”.
Greg
www.inkom.com.au