Prev: "Westpac chief returns fire on rates"
Next: Beauty Tips for Body,face and skin and much more
From: B J Foster on 19 Dec 2009 18:59
Mr.T wrote:
> "B J Foster" <bjfoster(a)yahoo.com.invalid> wrote in message
> news:hgjca0$ttq$4(a)bjf.motzarella.org...
>>> But some people do save, or there would be no money to lend to people
> like
>>> you.
>> You really think so?
>
> Well they do keep printing money, but yes some people do save or the whole
> system collapses eventually. Maybe you've forgotten the GFC already? Too
> many stupid loans, not enough savings.
>

Banks used to source money almost exclusively from deposits - with
deregulation, they started sourcing it from other banks and issuance on
the market. The Howard/Costello government did nothing to control this
- and the result was a dramatic growth in the money supply,
debt-burdened consumers and ridiculous house prices.

> MrT.
>
>
>
>
From: David Clayton on 23 Dec 2009 06:05
On Sun, 20 Dec 2009 10:59:06 +1100, B J Foster wrote:

> Mr.T wrote:
>> "B J Foster" <bjfoster(a)yahoo.com.invalid> wrote in message
>> news:hgjca0$ttq$4(a)bjf.motzarella.org...
>>>> But some people do save, or there would be no money to lend to people
>> like
>>>> you.
>>> You really think so?
>>
>> Well they do keep printing money, but yes some people do save or the
>> whole system collapses eventually. Maybe you've forgotten the GFC
>> already? Too many stupid loans, not enough savings.
>>
>>
> Banks used to source money almost exclusively from deposits - with
> deregulation, they started sourcing it from other banks and issuance on
> the market. The Howard/Costello government did nothing to control this -
> and the result was a dramatic growth in the money supply, debt-burdened
> consumers and ridiculous house prices.
>
And they source a vast amount of their loan funds from countries with far
lower interest rates than Australia that are *not* affected by anything
our Reserve Bank does - so how come local rates go up by more than any
Reserve Bank adjustment?

Answer: The difference goes straight into the profit margins of the most
profitable businesses in Australia.

It is no wonder our banks now owe over $540 billion to overseas lenders.

--
Regards, David.

David Clayton
Melbourne, Victoria, Australia.
Knowledge is a measure of how many answers you have, intelligence is a
measure of how many questions you have.

From: David Clayton on 23 Dec 2009 06:05
On Fri, 18 Dec 2009 23:52:23 +0800, Jonathan Wilson wrote:
........
> The only other time I have had to pay a fee is when purchasing something
> from a foriegn online store with my VISA Debit card but that fee is not
> charged by the bank, its charged by VISA and passed on by my bank. (and
> the big banks would charge just as much, if not more, for doing this than
> I am charged)

If you use a Debit/Credit card for foreign currency purchases you should
be aware of *all* the fees:

http://www.choice.com.au/Reviews-and-Tests/Money/Banking/Travel-money/Buying-guide-Travel-money/Page/Card%20comparison.aspx

--
Regards, David.

David Clayton
Melbourne, Victoria, Australia.
Knowledge is a measure of how many answers you have, intelligence is a
measure of how many questions you have.

First  |  Prev  | 
Pages: 1 2
Prev: "Westpac chief returns fire on rates"
Next: Beauty Tips for Body,face and skin and much more