Wednesday, March 23, 2011 7:01 PM
Dear Barnaby,
The water act needs to be abolished and the whole MDB plan thrown in the bin - it is all crap and is devised to depopulate Australia .
The reality will be the farms etc will be devalued and the the Banks / Financiers will call in the loans and a few will make a killing on cheap land and then we will be a net importer of food.
You need to read the Rizza Report if you have not done so . See quote from Land Clearence in MDB
In fact, that mass foreclosure
process is already well
under way, as is abundantly
documented in the MDBA’s
own recently published “Rizza
report”.
Aided by former Babcock &
Brown water speculators and
the so-called Wentworth Group
of Concerned Scientists, and
cheered on by Prince Philip’s
Australian Conservation Foundation,
the MDBA and most of
the nation’s banks have been
involved for many months in a
plot to use this past October’s
release of the MDBA’s Guide
to the proposed Basin Plan, to
trigger what are called “Material
Adverse Event” (MAE)
clauses written into almost all
loans. These MAEs empower
the banks to immediately call
in those loans, if they deem the
borrowers’ prospects of repaying
the loans to have changed
as a result of an MAE, and that
is now happening.
When surveyed by Rizza
(himself a merchant banker
and water speculator by
trade), all of the banks stated
that they would regard water
allocation cuts of 20 per cent
or more as the equivalent of
“permanent drought”, and as
such, would invariably trigger
the MAE clause in most loans.
The banks can classify whatever
they feel like as MAEs, including
even the prospect of
an MAE as one, whether or
not the prospective event even
happens. But, as they have informed
the MDBA, at the top
of the list of prospective MAEs
is the release of the MDBA’s
Guide itself, which thereby
renders virtually every farm
and small business loan in
the Basin legally defenceless
against immediate foreclosure
by the banks—regardless of
whether or not they are repaying
their loans.