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.
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.
Quote:
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
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.
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
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?
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.
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