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3 Years Interest Free Home Loan; Canada
Topic Started: 10 Oct 2013, 04:54 PM (654 Views)
loz
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I posted something about Harvey Norman Style loans as a joke a few weeks ago.

Canada is doing it for real

https://twitter.com/ac_eco/status/388064624869793792/photo/1

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herbie
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loz
10 Oct 2013, 04:54 PM
I posted something about Harvey Norman Style loans as a joke a few weeks ago.

Canada is doing it for real

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Hope their lending is the full recourse type.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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goldbug
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Russia to Grab Pension Money, Temporarily

October 3, 2013

MOSCOW–Russia’s government is temporarily seizing $7.6 billion in savings from non-state pension funds while it carries out inspections, a move critics say looks like a “confiscation” aimed at plugging a hole in next year’s state budget.

Prime Minister Dmitry Medvedev told ministers Thursday that the government needs to check that the money Russians channel to private pension funds is safe. To do this, it will seize 244 billion rubles ($7.6 billion) from non-state pension funds and put them into the state pension fund.

Pension funds hold more than $100 billion in assets. Nearly half of that is mandatory savings managed by state-run bank VEB. Non-state pension funds and funds affiliated with state-controlled companies hold the rest.

Government officials say they’ll just hold the money on the state pension fund’s books for a year while the checks are carried out. But analysts say they suspect the government will be tempted to use the money to plug shortfalls in the pension system, instead of channeling funds from the state budget, as it has previously.

That’s because Russia’s budget is in need of money as the economy is struggling with low growth amid weak investment and demand for its commodities exports.

The government is scrambling to find other sources of income to help it fulfill spending pledges by President Vladimir Putin. State-controlled companies have reacted coolly to proposals that they pay out 35% of their profits as dividends rather than the current 25%, which would help bring more money to the budget.

Experts say the government’s pension maneuver could be another way to cover the shortfall.
http://blogs.wsj.com/emergingeurope/2013/10/03/russia-to-grab-pension-money-temporarily/
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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doubleview
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goldbug
10 Oct 2013, 06:55 PM

Russia to Grab Pension Money, Temporarily

October 3, 2013

MOSCOW–Russia’s government is temporarily seizing $7.6 billion in savings from non-state pension funds while it carries out inspections, a move critics say looks like a “confiscation” aimed at plugging a hole in next year’s state budget.

Prime Minister Dmitry Medvedev told ministers Thursday that the government needs to check that the money Russians channel to private pension funds is safe. To do this, it will seize 244 billion rubles ($7.6 billion) from non-state pension funds and put them into the state pension fund.

Pension funds hold more than $100 billion in assets. Nearly half of that is mandatory savings managed by state-run bank VEB. Non-state pension funds and funds affiliated with state-controlled companies hold the rest.

Government officials say they’ll just hold the money on the state pension fund’s books for a year while the checks are carried out. But analysts say they suspect the government will be tempted to use the money to plug shortfalls in the pension system, instead of channeling funds from the state budget, as it has previously.

That’s because Russia’s budget is in need of money as the economy is struggling with low growth amid weak investment and demand for its commodities exports.

The government is scrambling to find other sources of income to help it fulfill spending pledges by President Vladimir Putin. State-controlled companies have reacted coolly to proposals that they pay out 35% of their profits as dividends rather than the current 25%, which would help bring more money to the budget.

Experts say the government’s pension maneuver could be another way to cover the shortfall.
http://blogs.wsj.com/emergingeurope/2013/10/03/russia-to-grab-pension-money-temporarily/
& soon coming to OZ !
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Foxy
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Zero is coming...

doubleview
12 Oct 2013, 10:25 PM
& soon coming to OZ !
yes one way or another.
but hey it's only money.
Peter
:pop:
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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peter fraser
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goldbug
10 Oct 2013, 06:55 PM

Russia to Grab Pension Money, Temporarily

October 3, 2013

MOSCOW–Russia’s government is temporarily seizing $7.6 billion in savings from non-state pension funds while it carries out inspections, a move critics say looks like a “confiscation” aimed at plugging a hole in next year’s state budget.

Prime Minister Dmitry Medvedev told ministers Thursday that the government needs to check that the money Russians channel to private pension funds is safe. To do this, it will seize 244 billion rubles ($7.6 billion) from non-state pension funds and put them into the state pension fund.

Pension funds hold more than $100 billion in assets. Nearly half of that is mandatory savings managed by state-run bank VEB. Non-state pension funds and funds affiliated with state-controlled companies hold the rest.

Government officials say they’ll just hold the money on the state pension fund’s books for a year while the checks are carried out. But analysts say they suspect the government will be tempted to use the money to plug shortfalls in the pension system, instead of channeling funds from the state budget, as it has previously.

That’s because Russia’s budget is in need of money as the economy is struggling with low growth amid weak investment and demand for its commodities exports.

The government is scrambling to find other sources of income to help it fulfill spending pledges by President Vladimir Putin. State-controlled companies have reacted coolly to proposals that they pay out 35% of their profits as dividends rather than the current 25%, which would help bring more money to the budget.

Experts say the government’s pension maneuver could be another way to cover the shortfall.
http://blogs.wsj.com/emergingeurope/2013/10/03/russia-to-grab-pension-money-temporarily/
Given the size of the Russian economy $7.6B is but a spit.

Our superannuation system holds $1.4 Trillion.

I understand that they are looking at ways of expanding the investment base of super schemes, but that will still be at the discretion of super holders. At present it's all in equities and some in bank deposits, which seems very restricted to me. There is also a danger of the scheme pumping up values in equities beyond where they should be simply due to the amount of funds washing into them. That could cause instability.

There have been suggestions that our government will also make a grab for our super funds - we both know that's not going to happen. Australia is not Cyprus.
Edited by peter fraser, 13 Oct 2013, 08:01 AM.
Any expressed market opinion is my own and is not to be taken as financial advice
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goldbug
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doubleview
12 Oct 2013, 10:25 PM
& soon coming to OZ !
It's really the only reason I bought the gold in the first place, fear of losing the ol life savings. If I look at the average super account I am still well up too thankfully.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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goldbug
13 Oct 2013, 08:09 AM
It's really the only reason I bought the gold in the first place, fear of losing the ol life savings. If I look at the average super account I am still well up too thankfully.
Well if you're up you got lucky.

Good for you.

Any expressed market opinion is my own and is not to be taken as financial advice
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