The Great Australian Banking Scam

Nation First looks into how politicians, regulators, and the woke elite enable the banks to steal your future.

Dear friend,

Today, the Australian Banking Association rolled out its latest fraud—a so-called “updated” Banking Code of Practice that is nothing more than a pathetic PR stunt designed to make the public think something is being done while the banks continue robbing people blind. They call it a reform. They claim it strengthens customer protections. But what does it actually do? Nothing. Absolutely nothing. It’s a meaningless exercise in “self-regulation” that lets banks continue their dirty work without real consequences.

The biggest scandal in Australian banking today is bank-engineered defaults—a predatory practice where banks deliberately push borrowers into default so they can seize their assets and profit from the loss. It’s legalised theft, and it’s still happening in Australia right now.

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• The updated Banking Code of Practice is a deceptive PR stunt that allows banks to continue predatory practices without real consequences.

• Bank-engineered defaults are a systemic scam where banks manipulate loan conditions to force borrowers into default and seize their assets for profit.

• The Royal Commission exposed widespread banking misconduct, but no significant changes have been made to protect customers.

• Major banks prioritise political agendas, funding divisive campaigns and aligning with globalist policies instead of serving their customers.

• Urgent government intervention is needed to ban bank-engineered defaults and enforce strict penalties for unethical banking practices.

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How Bank-Engineered Defaults Work

1. The Bank Sets You Up to Fail

   • You take out a loan, whether for a home, a business, or a farm. You meet all the requirements. The bank approves it. Everything seems fine.

   • Later, the bank changes the loan conditions—increases your interest rate, demands faster repayments, or suddenly requires extra security.

   • You can’t meet the new conditions, but that’s the point. The bank wants you to fail.

2. They Milk You for Every Cent

   • While you struggle to keep up with payments, the bank charges extra fees, penalties, and interest, squeezing every last dollar out of you.

   • You might beg for refinancing, but the bank refuses to negotiate, forcing you further into financial distress.

3. They Pull the Plug When You’re Broke

   • When you’re at your lowest point, the bank calls in the entire debt, demanding full repayment immediately.

   • They know you don’t have the money, and that’s the plan. They push you into default on purpose.

4. They Take Everything – and Still Get Paid Again

   • The bank seizes your house, farm, or business and sells it—often below market value.

   • If your loan was insured, the bank gets an insurance payout, too—meaning they profit twice while you’re left with nothing.

This isn’t just bad luck. This is a systematic scam designed to ruin borrowers while banks profit from their losses. It’s been happening in Australia for decades, and despite the Royal Commission exposing it, nothing has changed.

And I should know, because I fought for that Royal Commission.

The Liberal National Coalition resisted the Royal Commission from the start, doing everything possible to shield the banks. It was only because a handful of us—myself included—stood up to our own party and demanded accountability that it even happened. I, along with then Nationals Senator Barry O’Sullivan, and Nationals MP Llew O’Brien, broke ranks with the government to force the Royal Commission into existence. We did it because we knew the truth: that Australian banks were systematically ruining lives, milking people dry and throwing them away, and that the political establishment was complicit.

I heard the stories firsthand. Farmers losing their land because the bank suddenly “reassessed” their loan conditions and decided they no longer qualified. Small business owners crushed by sudden debt recalls. Families who, despite making every effort to meet their repayments, were told they were in default because of some technical trickery the bank pulled on their loan conditions. This was happening on a mass scale, and the only reason we ever got a Royal Commission was because we refused to back down.

And what did we get? Proof that everything we had been saying was true. The Royal Commission exposed how banks had knowingly pushed people into financial ruin, how they had lied, manipulated, and stolen from their own customers, how they had even charged fees to dead customers while raking in billions in profits. It was a national disgrace.

But here’s the real disgrace: nothing has changed. The banks got a slap on the wrist, a few executives left with golden parachutes, and now, with today’s announcement, we see the banks patting themselves on the back for voluntarily “improving” their own rules, all while they continue the same corrupt, predatory behavior that ruined lives in the first place. The worst penalty they can face is being named and shamed. That’s it. A bad headline. A mention in some compliance report that no one reads. Meanwhile, banks can still pull the rug out from under borrowers whenever they want, they can still manipulate valuations to justify foreclosing on farms and businesses, they can still push people into impossible financial conditions, and they can still walk away with their profits intact while their victims are left with nothing.

But don’t worry—the banks are “committed to social justice.” That’s right. Instead of actually stopping their predatory behavior, they’re busy funding radical ideological agendas that have nothing to do with banking. Instead of addressing the financial destruction they cause, they’re throwing millions into identity politics, globalist policies, and woke activism.

The most glaring example of this was their aggressive backing of the Voice to Parliament referendum. Commonwealth Bank, ANZ, NAB, and Westpac were all major corporate supporters of this elitist proposal, despite the fact that the Australian people rejected it in a landslide. The banks pushed it anyway, arrogantly believing they knew better than the very people they claim to serve. This referendum was the most socially divisive and destructive political campaign in decades, and it was fueled by corporate money, including from the banking sector.

And it doesn’t stop there. These banks are fully aligned with the globalist agenda, especially the World Economic Forum (WEF)—an unelected group of technocrats who openly declare their vision for the future with their infamous “By 2030, you’ll own nothing and be happy” slogan. National Australia Bank (NAB) is a partner of the WEF. Macquarie Bank sends executives to WEF meetings. Westpac and ANZ align themselves with WEF-aligned policies on climate control and ESG mandates that have nothing to do with banking and everything to do with pushing a global control agenda. These aren’t financial institutions anymore—they’re political players trying to reshape society in their image while continuing to fleece their own customers.

The everyday Australian can’t afford groceries. Families can barely keep up with mortgage payments. Farmers are losing their land. Small businesses are being driven into the ground. And what are the banks doing? Sponsoring LGBTIQ+ pride parades. Funding racial division campaigns. Shoving climate alarmism down our throats while shutting down branches in rural Australia, abandoning the very people who built this country.

This is what happens when the banks are left to police themselves. This is what happens when our politicians—Labor and Liberal alike—are nothing more than obedient servants of corporate power. This is what happens when the regulators are in on the scam. And this is what will keep happening until Australians stand up and fight back.

Enough is enough. It’s time for real action. The government must immediately legislate a ban on bank-engineered defaults and make the Banking Code of Practice legally enforceable with massive fines and criminal penalties for violations. If the banks want to shut down a business or foreclose on a farm, they should be forced to justify it in an independent tribunal before taking any action. No more quiet deals, no more loopholes, no more corporate corruption hidden behind PR fluff.

Every Australian needs to wake up. Stop believing the banks. Stop believing the government when they say they’re “cracking down.” Demand real reform. Call out this scam every chance you get. If we don’t fight back now, these globalist parasites will take everything from us—and they’ll call it progress.

Until next time, God bless you, your family and nation.

Take care,

George Christensen

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George Christensen is a former Australian politician, a Christian, freedom lover, conservative, blogger, podcaster, journalist and theologian. He has been feted by the Epoch Times as a “champion of human rights” and his writings have been praised by Infowars’ Alex Jones as “excellent and informative”.

George believes Nation First will be an essential part of the ongoing fight for freedom:

“The time is now for every proud patriot to step to the fore and fight for our freedom, sovereignty and way of life. Information is a key tool in any battle and the Nation First newsletter will be a valuable tool in the battle for the future of the West.”

— George Christensen.

Find more about George at his www.georgechristensen.com.au website.

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Authorised by G. Christensen, River Street, Mackay