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Ex-Global Head of FX Merril Lynch Quote
Topic Started: 2 Jan 2017, 04:53 PM (3,421 Views)
Rufus
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Rastus2
3 Jan 2017, 09:48 AM
I didn't think Simon said the RBA specifically bailed anyone out, just central banks, and if he had included governments using public money, the validity of his statement would not be in question even here in Australia.

Simon never posts facts, he always posts misleading innuendo, deliberately misleading. All government spending is the spending of public money. That's what we elect them to do. If they didn't spend it where needed we would be far worse off.

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Your point that the RBA did not step in to bail out any specific bank may be correct, but taxpayers still fed the banks a nice spoonful of bail out on demand in the form of debosit guarantee... The Gov. did not even get the RBA to deliver the spoon, it did it itself, and the effect was shown in FOI RBA documents.
http://www.abc.net.au/news/2016-05-26/banks-receive-almost-4-billion-dollars-from-implicit-guarantee/7447542

The government did what any government should do, protect the savings of its people. It will do it again if required, again and again. It's not the RBA's job to do that in fact the RBA cannot guarantee bank deposit.


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IMHO, the Bail-In model is great in theory, but will result in a lot of people who were unaware that their money was in a tranch that will be sacrificed... any money in such tranches should only be allowed to be moved there if a very authority is somehow fed to the investor prior to the investment being made. I suspect more people have money in these tranches than those who are aware of it.

The bail in is complete bullshit. The only governments who have used that are currency users who are essentially almost broke and they had no choice.

If and when governments allow the peoples savings to be destroyed, it will then cost the government much more in emergency and ongoing support to prop up the needs of the people who they have just let down. Depositors funds are not in tranches sold to investors, they are mainly at call deposits.

The banking system isn't something that can be used for an experiment, it's vital to the nations future.


Take risks - if you win you will become wealthy, if you lose you will become wise
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Terry
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Rufus
3 Jan 2017, 12:18 PM




The bail in is complete bullshit. The only governments who have used that are currency users who are essentially almost broke and they had no choice.

If and when governments allow the peoples savings to be destroyed, it will then cost the government much more in emergency and ongoing support to prop up the needs of the people who they have just let down. Depositors funds are not in tranches sold to investors, they are mainly at call deposits.

The banking system isn't something that can be used for an experiment, it's vital to the nations future.

Something like 30% of h'holds have less than a month of income at their disposal. That's not broke, but it's an indicator of how close to the bone many are. That's why bail ins are important in this day and age.
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Rufus
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Terry
3 Jan 2017, 12:25 PM
Something like 30% of h'holds have less than a month of income at their disposal. That's not broke, but it's an indicator of how close to the bone many are. That's why bail ins are important in this day and age.
You clearly don't understand what a bail in is.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Terry
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Rufus
3 Jan 2017, 12:30 PM
You clearly don't understand what a bail in is.
Oh really.
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Trollie
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Simon_S
3 Jan 2017, 11:52 AM

Money in the Bank is money in the Bank......Can be withdrawn any time
You lose the term deposit interest when you withdraw early so make that 0% interest. The fact that you think money in a bank is safe is laughable.

You can also sell your IP anytime as well, so once again your claims have proven you don't know what you are talking about.
Terry
3 Jan 2017, 01:05 PM
Oh really.
So set us all straight roddy, or run off with your tail between your legs like always.

Your call bruh.
Edited by Trollie, 3 Jan 2017, 01:27 PM.
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Simon_S
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Trollie
3 Jan 2017, 01:26 PM
The fact that you think money in a bank is safe is laughable.

You can also sell your IP anytime as well, so once again your claims have proven you don't know what you are talking about.

So set us all straight roddy, or run off with your tail between your legs like always.

Your call bruh.
Money in a Bank isn't safe but a Mortgage to the same bank is?................LOL

I can withdraw my money tomorrow i.e 24 Hrs but how long will it take for you to sell your IP in a Crises?

How Long Does It Take To Sell A Property?

Quote:
 
But the question still remains, how long does it take to sell a property? The average time to sell a house in Australia is 66-77 days.


Hmmm......Only 66-77 days..............Anytime you say...........LOL

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Trollie
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Simon_S
3 Jan 2017, 01:58 PM
Money in a Bank isn't safe but a Mortgage to the same bank is?
You need to ask yourself if the 2 can be compared
Simon_S
3 Jan 2017, 01:58 PM
I can withdraw my money tomorrow i.e 24 Hrs but how long will it take for you to sell your IP in a Crises?
You are confusing liquidity again, but I can withdraw equity from some of my loans in 24 hours.
Edited by Trollie, 3 Jan 2017, 02:05 PM.
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Simon_S
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Rufus
3 Jan 2017, 12:18 PM
Simon never posts facts, he always posts misleading innuendo, deliberately misleading. All government spending is the spending of public money. That's what we elect them to do. If they didn't spend it where needed we would be far worse off.





LOL...........Is that why you always want to me to post in "My Words" and not Articles and Documents from Reputable sources like the IMF, World Bank, OECD, US FED,RBA and others....

Yes must all be lies and Innuendo and deliberate misleading......

Is that like your claim about Ross Garnaut being a Bear because he wrote all these bearish books.........LOL.

Please state Clearly that the Central Banks around the Globe did not initiate emergency measures during the GFC.

Oh whats this:

Unto us a lender of last resort is born

Hmmm......Wonder why you started that thread.......


Trollie
3 Jan 2017, 02:01 PM
You need to ask yourself if the 2 can be compared

You are confusing liquidity again, but I can withdraw equity from some of my loans in 24 hours.
So you would prefer to OWE money than HAVE Money in a crises..........Good to Know.

Oh....So you can OWE more Money.........Sounds like a great way to increase wealth.

Edited by Simon_S, 3 Jan 2017, 02:17 PM.
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Trollie
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Simon_S
3 Jan 2017, 02:14 PM

So you would prefer to OWE money than HAVE Money in a crises..........Good to Know.

Oh....So you can OWE more Money.........Sounds like a great way to increase wealth.
Firstly, it's spelt crisis you moron.

And in a crisis, who gives a shit what matters is having the money. Which you'll have a lot more of if you don't let it tread water in a bank account.

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Simon_S
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Trollie
3 Jan 2017, 02:32 PM
Firstly, it's spelt crisis you moron.

And in a crisis, who gives a shit what matters is having the money. Which you'll have a lot more of if you don't let it tread water in a bank account.
LOL.....the Morons in Crises who don't have liquidity find themselves getting bent over........

An IP is not Liquid...........IE its not cash UNTIL you find a Buyer and settle.......At a lower price no Doubt.......

Quote:
 

But the question still remains, how long does it take to sell a property? The average time to sell a house in Australia is 66-77 days.


How much did your IP fall in Value in that period when everyone else is heading for the EXIT

And Who wants to Buy IP's in Crises.........

How long did it take to withdraw my cash.......Not 66-77 days.........LOL.

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