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The high cost of snake oil
Topic Started: 7 Jan 2017, 10:18 AM (10,289 Views)
Khaderbhai
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Wealthy Suburbanite

Simon_S
10 Jan 2017, 09:55 AM
Great so you're also supporting Skammy's claim that money isn't safe in OUR Banking System....
It's pretty safe but there are no guarantees. Money in a bank account is abstract and intangible. It could literally vanish overnight, or become unavailable to you in the event of a bank collapse, fraud, war, power failure, collapse of society etc. On the other hand, it's pretty hard to make land disappear. Property is a real and tangible asset that also provides a useful function.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Sydneyite
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Chris
10 Jan 2017, 08:34 AM
I always find it quite amusing when APF members posing as the quintessential 'Aussie shella' just having a go in the market and making and millions,
Skamy has always claimed to be an Irish immigrant from humble origins..... not an "Aussie sheila".
Edited by Sydneyite, 10 Jan 2017, 10:10 AM.
For Aussie property bears, "denial", is not just a long river in North Africa.....
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Rufus
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Simon_S
10 Jan 2017, 09:55 AM
Great so you're also supporting Skammy's claim that money isn't safe in OUR Banking System....
Goodness you are SO DISHONEST -

I never addressed that point at all.
Edited by Rufus, 10 Jan 2017, 11:37 AM.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Simon_S
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Khaderbhai
10 Jan 2017, 10:06 AM
It's pretty safe but there are no guarantees. Money in a bank account is abstract and intangible. It could literally vanish overnight, or become unavailable to you in the event of a bank collapse, fraud, war, power failure, collapse of society etc. On the other hand, it's pretty hard to make land disappear. Property is a real and tangible asset that also provides a useful function.
Oh so its pretty safe now?

Ok. Thanks for that.

Quote:
 
Money in a bank account is abstract and intangible.


But equity in a Property is not you say?

I wonder what happened to all those Syrians with property as opposed to those that had cash.......... You know those houses with new open plan living designs with better views of the street and your new neighbors toilet.....Could you take that with if you left.........Oh wait you cant.......But with cash you could leave when ever you want......


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stinkbug
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Simon_S
10 Jan 2017, 12:17 PM


I wonder what happened to all those Syrians with property as opposed to those that had cash..........

A very good point. Australia, as an impoverished and corrupt middle-eastern dictatorship is also highly susceptible to invasion and decimation.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Simon_S
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Rufus
10 Jan 2017, 10:12 AM
Goodness you are SO DISHONEST -

I never addressed that point at all.
Oh... sorry I must have misunderstood......

So Our Banking System isn't on the verge of collapse and Money in the bank is safe?

Phew......That's a relief.

So skammy is being Dishonest but you didn't question her on that because........LOL



stinkbug
10 Jan 2017, 12:23 PM
A very good point. Australia, as an impoverished and corrupt middle-eastern dictatorship is also highly susceptible to invasion and decimation.
I'm glad You made Khaderbhais point look stupid and Irrelevant

Quote:
 
It could literally vanish overnight, or become unavailable to you in the event of a bank collapse, fraud, war, power failure, collapse of society etc. On the other hand, it's pretty hard to make land disappear. Property is a real and tangible asset that also provides a useful function.


Thanks Sydneyite.......

Edited by Simon_S, 10 Jan 2017, 12:27 PM.
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stinkbug
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Simon_S
10 Jan 2017, 12:24 PM

I'm glad You made Khaderbhais point look stupid and Irrelevant

I may seem godlike in my achievements, but I am not actually a deity.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Khaderbhai
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Simon_S
10 Jan 2017, 12:17 PM
I wonder what happened to all those Syrians with property as opposed to those that had cash.......... You know those houses with new open plan living designs with better views of the street and your new neighbors toilet.....Could you take that with if you left.........Oh wait you cant.......But with cash you could leave when ever you want
In the scenario you describe, how would you get your $10M out of the bank when the computer on which your digits are stored has been blown up?

In a collapse of society type event, you won't be able to get your hands on the money stored electronically in the bank.

You're better off with physical property that you can actually hold and defend.

Or have you abandoned the 'money in the bank' argument and now you're talking about holding $10M in physical notes?

Edited by Khaderbhai, 10 Jan 2017, 12:48 PM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Simon_S
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Khaderbhai
10 Jan 2017, 12:45 PM
In the scenario you describe, how would you get your $10M out of the bank when the computer on which your digits are stored has been blown up?

In a collapse of society type event, you won't be able to get your hands on the money stored electronically in the bank.

You're better off with physical property that you can actually hold and defend.

Or have you abandoned the 'money in the bank' argument and now you're talking about holding $10M in physical notes?
LOL......Yes your house is still worth 10 million in such a scenario..............

Is your 10 million dollar property a tent? No? Guess you're shit out of luck then.

Oh and Banks have branches everywhere.......

Heard of a satellite phone.....

Take your pick USD, Euros, Rubles, shit even Gold........

Quote:
 
You're better off with physical property that you can actually hold and defend.


From an Airstrike........How do you catch Missiles?

AHAHAHAHAHAHAHAHAHHAHAAHAHAHAHAH



stinkbug
10 Jan 2017, 12:35 PM
I may seem godlike in my achievements, but I am not actually a deity.
Nah just a useful idiot at times......
Edited by Simon_S, 10 Jan 2017, 01:00 PM.
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Khaderbhai
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Wealthy Suburbanite

Simon_S
10 Jan 2017, 12:59 PM
your house is still worth 10 million in such a scenario
I disagree with you there.

The concept of "$10 million" in fiat money goes out the window in a collapse of society scenario. Fiat becomes worthless.

The things of value are essentials like shelter, food, water, medicine, weapons.

Money would be useless, because the monetary system would have collapsed.

Nobody would want your cash. Even if you could somehow retrieve it from the bank's hard drive, you'd be better off using it as fuel to stay warm.

Stay in your property, have a stash of supplies, defend it as best you can, and hope you don't get hit by a bomb or killed by other desperate survivors.

That's about the best you can hope for.

Queuing up outside a bank hoping to get cash out would be an exercise in futility.
Edited by Khaderbhai, 10 Jan 2017, 01:11 PM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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