$276 Thousand Reasons to Know This Is Going to Happen.

[strider]

Commonwealth has some internet only thingy with 7%, which is why I said if you're getting 5% then you can do better.

its not 7% any more - its dropped along with all other interest rates - its only around 4% now .... when other loan rates are up you get more on the investment accounts

 

[yy_cheng]

its not 7% any more - its dropped along with all other interest rates - its only around 4% now .... when other loan rates are up you get more on the investment accounts

That's how it should be.

A bank takes your deposit and gives you interest. Currently 2.75%-3.25%.

They take your money and make deals to make more money. A simple case is to lend it to someone for a mortgage at 5%. They take the spread or difference.

If they do not have enough funds, they borrow from the interbank market or pledge collateral to the RBA for funds. Interbank market rate is approx. 3% too.

So to give you 7%, they will need to make alot. That's why larger deposits receive higher interests.

One way that HJ may still be earning 7% is that he has a fixed or term deposit that he made before oct 08 when interest rates were high.

Otherwise, it is a separate Structured Product where it is linked to another currency or something like equities. Of course there is the PONZI scheme but I doubt that the CBA is into that.

 

[Casper The Ghost]

its not 7% any more - its dropped along with all other interest rates - its only around 4% now .... when other loan rates are up you get more on the investment accounts

The Aussie 1$ is now worth around 3c to the $1 - with rapid inflation since the mid 1970's (particularly since the Whitlam era) the buying power of the $1 has almost diminished. In the early 1960's the $1 was worth a $1. What cost 5c to buy an ice cream back then now costs around $2.50 - These days a loaf of Sliced white bread has at least 6 indirect taxes involved by the time the consumer buys and eats it.

Late 1990's/early-mid 2000's we have been buying U.S. Federal Reserve Bank (a private corporation owned by European families) $1's in the billions at around 1.5% interest, on selling it to the domestic/financial sector for around 3.5% who then on-sold it to the consumers (us) anywhere from between 5.5% and 16% interest. We were being flooded in easy credit,...... pay it back years later....... almost every week in the mail came offers for a fast-approved $5k to $50k small business/personal loans & $1k to $5k credit cards (with very little credit checks involved).

The inflationary bushfire engulfing Gondwanaland was heavily fuelled by the Fed Govt 1st home buyers $14K & then $7k incentives..... backed by this easy money....... as were the generous State Govt exemptions for 1st home buyers stamp duty. Off the back of this massive rapid inflation (with no substance/productivity to back it) real estate values went right through the roof,... many places between 50% and 150% in less than 3 years.

A massive correction will occur but only after the U.S. $1 has crashed. The overall U.S. Federal, State and private sector debt is hitting over 100 Trillion $$$. The only thing stopping such a crash is the creation of more money out-of-thin-air (more debt to service more debt). When the U.S. $1 goes so will the Aussie, almost overnight. There is NOTHING OF SUBSTANCE to back this debt.... absolutely nothing. No Brick Wall to withstand such a force.

Thanks to the Lima treaty come GAT and from the early 1970's onwards, most of our Aussie owned manufacturing base went offshore (to compete globally) or were purchased outright by overseas interests causing most of our Aussie profits (labour/productivity etc) to drift off-shore as well.

We have gone from being a country where taxes, up until the 1950s/early 1960s, were almost non-existent. We had a half a percent income tax and a half a percent sales tax that came and went. All the other direct and indirect taxes we are lumbered with today, including superannuation, workers comp etc, did not exist. Today, a family of four is now paying taxes (direct and indirect) of over $600.00 per week.

Today, the average Australian family is in debt to the tune of at least 160% of their income. Back in the 50's, 60's & early 70's, a migrant family could work there arses off and own three houses (at least 2 outright) within ten to fifteen years. Today most of our kids will work 50 years and still won't be able to pay off the mortgage to just one family home.

And to get another kick in the teeth came land tax causing many pensioners who worked their arses off building this country to sell their family home to pay land taxes and escalating council rates while the values (buying power) of their pensions and health care and other government services/benefits started dwindling away as well.

The insanity of the last fifteen years was such that we were selling Telstra to ourselves when we already owned it as part of our common wealth.

Since the early 1970's we have lost over 350,000 farming families off the land, all local Aussie producers, no one to replace them ever since. Today, almost all Aussies are totally dependent on sucking on the nipples of the private corporations (almost all of them completely owned or controlled overseas) for everything they need, food, clothing, energy, money, transport, fuel, communication, manufacturing, etc, etc, and soon the water will be 100% owned as well by overseas interests.

And you are worrying about getting a few% interest on your savings???? What savings do you really think you have????? The land has been pulled out from under your feet. Did you know that all land titles offices in Australia are owned by a private corporation & not by Australians for Australia???? Have any of you owning land looked carefully at your land-title deeds lately (at least over the last 5 years)????? Do you know it will tell you that you are a TENANT on the land you supposedly think you own (Fee Simple), with or without a mortgage!!!!!

Did you know that the State Of Queensland (The Land) is now owned by the Brigalow Corporation???? and that thousands of Queenslanders are now rising up to fight this greed and yet the mainstream media are ignoring this most important event. See: www.nospam06.com.au/node/1892 and http://www.nospam06.com.au/node/2666 and http://www.nospam06.com.au/node/2667 and http://www.nospam06.com.au/node/4661 and http://www.nospam06.com.au/node/4656 and do a google Brigalow Corporation for many others.

I could go on and on and on with facts/evidence but the point I am making is that if you have no substance to back you as in land and water you have zilch, meaning you have no control over your destiny, meaning at any given moment everything can be taken away from you and your extended families (by those not involved in your community who believe they own what you have/use) and you will have no community immunity in place to stand up and protect you from such an onslaught of rape, pillage, plunder and sometimes murder (its called collateral damage etc).

Boooooooooooooo Casper

 

[Casper The Ghost]

That's how it should be.

A bank takes your deposit and gives you interest. Currently 2.75%-3.25%.

They take your money and make deals to make more money. A simple case is to lend it to someone for a mortgage at 5%. They take the spread or difference.

If they do not have enough funds, they borrow from the interbank market or pledge collateral to the RBA for funds. Interbank market rate is approx. 3% too.

So to give you 7%, they will need to make alot. That's why larger deposits receive higher interests.

One way that HJ may still be earning 7% is that he has a fixed or term deposit that he made before oct 08 when interest rates were high.

Otherwise, it is a separate Structured Product where it is linked to another currency or something like equities. Of course there is the PONZI scheme but I doubt that the CBA is into that.

Banks DO NOT LEND MONIES ON DEPOSIT!!!

GET ANY BANK MANAGER TO SIGN A NOTARISED AFFIDAVIT UNDER THEIR FULL COMMERCIAL LIABILITY
stating their bank loans the money they have on deposit.

For beginners/starters watch this animated documentary:
Video: Money As Debt - 47 Minutes - Animated Presentation by Paul Grignon:
http://nospam06.com.au/node/1323

Booooooooooooooooooo Casper

 

[yy_cheng]

Banks DO NOT LEND MONIES ON DEPOSIT!!!

GET ANY BANK MANAGER TO SIGN A NOTARISED AFFIDAVIT UNDER THEIR FULL COMMERCIAL LIABILITY
stating their bank loans the money they have on deposit.

Booooooooooooooooooo Casper

Yes they keep it there in a drawer so when you want it they give it to you.

They make no money on it and they lose the interest that they give you if you don't take it out.

That's why they don't make profit every year.

OK they don't loan your deposit per se.

But deposits to banks is cheap funding. They make a contract with you to give you x% on the deposit that you place.

Then they make another contract with someone else to receive x+y% by lending a certain amount to them.

The money that you deposit is not the same notes that you gave them.

It's just that they are obliged to return your deposit when you request it. The money that you get is funded from somewhere else.

Ok, I may not be using the correct wordings as you have articulated it but in layman's term it is what happens

 

[Casper The Ghost]

Yes they keep it there in a drawer so when you want it they give it to you.

They make no money on it and they lose the interest that they give you if you don't take it out.

That's why they don't make profit every year.

OK they don't loan your deposit per se.

But deposits to banks is cheap funding. They make a contract with you to give you x% on the deposit that you place.

Then they make another contract with someone else to receive x+y% by lending a certain amount to them.

The money that you deposit is not the same notes that you gave them.

It's just that they are obliged to return your deposit when you request it. The money that you get is funded from somewhere else.

Ok, I may not be using the correct wordings as you have articulated it but in layman's term it is what happens

yy cheng, the banks loan zilch monies on deposit (no ones monies on deposit).

Check these out.......

Video: Money As Debt - Paul Grignon's 47-minute animated presentation:
http://nospam06.com.au/node/1323

The money creation myth: an animated 1937 French Canadian article:
How Banks Produce Credit Out Of Thin Air:
http://nospam06.com.au/node/15

Billions For The Bankers, Debts For The People
by Pastor Sheldon Emry - 1989:
http://nospam06.com.au/node/640

I WANT THE EARTH + 5% by Larry Harrigan:
http://nospam06.com.au/node/62

OUT OF THE RED AND INTO THE BLACK
By Len Clampett: http://nospam06.com.au/node/64

The Money Masters - DVD: http://nospam06.com.au/node/642

"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..."
- Prof. Carroll Quigley, renowned, late Georgetown macro-historian
(mentioned by former President Clinton in his first nomination acceptance speech),
author of Tragedy & Hope: A History of the World in Our Time

Booooooooooooooooo Casper

 

[yy_cheng]

yy cheng, the banks loan zilch monies on deposit (no ones monies on deposit).

Check these out.......

Video: Money As Debt - Paul Grignon's 47-minute animated presentation:
http://nospam06.com.au/node/1323

The money creation myth: an animated 1937 French Canadian article:
How Banks Produce Credit Out Of Thin Air:
http://nospam06.com.au/node/15

Billions For The Bankers, Debts For The People
by Pastor Sheldon Emry - 1989:
http://nospam06.com.au/node/640

I WANT THE EARTH + 5% by Larry Harrigan:
http://nospam06.com.au/node/62

OUT OF THE RED AND INTO THE BLACK
By Len Clampett: http://nospam06.com.au/node/64

The Money Masters - DVD: http://nospam06.com.au/node/642

"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..."
- Prof. Carroll Quigley, renowned, late Georgetown macro-historian
(mentioned by former President Clinton in his first nomination acceptance speech),
author of Tragedy & Hope: A History of the World in Our Time

Booooooooooooooooo Casper

Ok let me tell my COO and ask for all the operation manuals to be rewritten.

 

[Casper The Ghost]

Ok let me tell my COO and ask for all the operation manuals to be rewritten.

OK, get your COO to TO SIGN A NOTARISED AFFIDAVIT UNDER HIS/HER FULL COMMERCIAL LIABILITY
stating their bank (your bank/institution/corporation handling depositors loans etc) loans the money they have on deposit.
And send me the original signed copy (I will give you an address at the appropriate time.

Here is just one case (affidavit) to investigate which touches on the Judge Mahoney Credit River court case [FONT=&quot]State of Minnesota, County Scott, United States of America 1968...[/FONT]......

On the 20th December 2006, I say on oath:

1. I am the deponent.
2. I believe that the information contained in this affidavit is true.

As stated in my 6th Affidavit, “.............. ................."Collection’s Manager" for Macquarie Mortgages Pty Ltd, under this title she signed a clearly perjured affidavit on behalf of the plaintiff Perpetual limited (full of obvious uncertainty, confusion and caprice – stating “to the best of my knowledge, information and belief” and such other words that convey vaguary and uncertainty and is so inconsistent that I object that it should be relied upon as evidence because her words are not positive and concrete and are simply speculation on her version of doubtful truth) and who states that everything stated in her clearly perjured affidavit “is true to the best of my knowledge, information and belief”. Oh! What Uncertainty? Isn’t that guessing work?” If ............... ................ is honest, her testimony may be verifiably false in either or both of the ways described below.

• According to point 12 of the facts and assertions relied on by the Plaintiff in the Plaintiff’s Statement of Claim; “On 19 September 2005 the Plaintiff made an advance of $664,000.00 to the Defendant pursuant to the terms of the Loan Contract.” The deponent provided the exhibit marked "AS-1" to validate this assertion.

• According to the testimony of ............... ................ [Collection's Manager employed by the Mortgage Manager who acts on behalf of the Plaintiff], the exhibit marked "AS-1" is a copy of the Loan Contract dated 25 August 2005 in respect of Macquarie Mortgages Loan purportedly extended by the Plaintiff.

• The first line of the schedule in exhibit "AS-1" is in two parts. The first part has the words “Amount of Credit” and the second part has “$664,000”. Nowhere on exhibit "AS-1" are the words “Amount of Loan” or any such words to indicate that $664,000 would be loaned [on 19 September 2005 or on any other date].

• For reasons that are given below, it is likely the assertion that the Plaintiff made an advance of $664,000.00 is false in ways that reflect the confusion of two related but certainly different actions, specifically giving credit and lending money. It is a matter of fact that giving credit is not the same as lending money.

• We are given credit if the person giving it believes that we will honour our undertaking; such as to pay money. A line of credit is one way we may be given credit.

• We are lent money if, at the time of making the loan, [in this case, making the advance of $664,000.00] the person lending it actually has the money to lend and had acquired that money lawfully. The former point may seem self-evident as no one can lend something they do not have; but what if they pretend to lend?

• There is evidence that bankers pretend that they will lend money [and subsequently have lent money] even if they do not actually lend the money. A publicized part of that evidence goes by the name “fractional reserve banking”. As is demonstrated below, the term conceals a fraud that has been maintained for centuries.

• To see how confusing "giving credit" with "lending money” maintains the fraud, let's examine our specific example – how the Plaintiff could try to defraud the Defendant of money by giving her credit and pretending to lend, or truly lending, money that have been the result of previous commission of the same fraud.

(3)​

• It appears from the first line of the schedule in exhibit "AS-1" that the Defendant has been given credit by an authorised officer of Perpetual Trustees Australia Limited but there is no evidence that the Plaintiff had that amount money to lend on 19 September 2005 or had lawfully acquired all of the money lent that day.

• If the Plaintiff acquired that money from a bank conducting “fractional reserve banking”, the “fungibility” of money makes it impossible to know if it had acquired that money lawfully or as a result of previous credit given and money not lent, but which a borrower had, in the belief it was lent, undertaken to pay.

• It appears that the Plaintiff acquired money from a bank conducting “fractional reserve banking”. This is “prima facie” evidence that the Plaintiff did not lawfully acquire all of the money lent. Unless the Plaintiff can disprove this evidence, the court is bound to admit that no valid loan was ever made to the Defendant.

I also point out from point 6 of my ‘Defence’ filed 15th September 2006 that I “The defendant denies the allegations contained in paragraphs 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 of the statement of claim” and in that light I seek from the court an immediate injunction order to stop any enforcement of any prior court orders that relied on the disputed assertion that the Plaintiff made the advance of $664,000.00. Also in the letter to Mr ........ ............ dated 5th July 2006, I also stated “There are other very serious issues to address but we will leave these questions until another day.”

In terms of the plaintiff complaining and arguing that they have lost money, I ask and insist that the plaintiff, as evidence, can prove to me and the court, beyond any reasonable doubt

• The plaintiff had the money to lend before the contract was signed
• That the plaintiff has lost any money. I want to see the balance sheets and journal ledgers, journal entries either electronically on computers or other electronic machines or by hand, on the days that a) the loan was created and b) the loan was transferred to CitiBank for refinance and to my ANZ bank account. In the plaintiff’s statement of claim, the word money has been used a few times to say all money owing by the defendant to the plaintiff.
• I want the plaintiff to explain to me in writing what the meaning of the word and terms the plaintiff uses a) credit, b) Amount Of Credit,

I now provide as evidence to the court, a court precedent from the State of Minnesota, County Scott, United States of America – December 7th 1968, now known as the “Credit River Case” – Township of Credit River – Martin v Mahoney, Justice – Plaintiff: First National Bank of Montgomery vs. Defendant: Jerome Daly, before a jury of twelve of their peers.

Below, I have provided detailed evidence of Justice MARTIN V. MAHONEY’s 1969 Judgment and Decree, including documents signed by Justice Mahoney as to his judgment and decree. I include this evidence as an exhibit, not of the fraud in this case, but of the way the justice provided by a jury of twelve and judge has been suppressed for 38 years by the media. While “Mr. Morgan admitted that all of the money or credit which was used as a consideration was created upon their books, that this was standard banking practice exercised by their bank” [and all other banks with &#8220, post: fractional reserves&#8221, member: "], that case did not even disclose just how the confusion of money with credit is the essential element of a fraud that has for centuries been maintained and extended around the world.

…………………………………….... …………………………………………
Deponent Witness

[FONT=&quot](4)[/FONT]​

[FONT=&quot] Copy of Justice MARTIN V. MAHONEY’s 1969 Judgment and Decree [/FONT]

RE: First National Bank of Montgomery vs. Jerome Daly​

​

IN THE JUSTICE COURT​

STATE OF MINNESOTA​

COUNTY OF SCOTT​

TOWNSHIP OF CREDIT RIVER​

JUSTICE MARTIN V. MAHONEY​

[FONT=&quot]First National Bank of Montgomery,[/FONT]
[FONT=&quot] Plaintiff[/FONT]
[FONT=&quot] vs[/FONT]
[FONT=&quot]Jerome Daly,[/FONT]
[FONT=&quot] Defendant[/FONT]

[FONT=&quot]JUDGMENT[/FONT] [FONT=&quot] AND DECREE[/FONT]

[FONT=&quot]The above-entitled action came on before the Court and a Jury of 12 on December 7, 1968 at 10:00 am. Plaintiff appeared by its President Lawrence V. Morgan and was represented by its Counsel, R. Mellby. Defendant appeared on his own behalf.[/FONT]
[FONT=&quot]A Jury of Talesmen were called, impaneled and sworn to try the issues in the Case. Lawrence V. Morgan was the only witness called for Plaintiff and Defendant testified as the only witness in his own behalf.[/FONT]

[FONT=&quot]Plaintiff brought this as a Common Law action for the recovery of the possession of Lot 19 Fairview Beach, Scott County, Minn. Plaintiff claimed title to the Real Property in question by foreclosure of a Note and Mortgage Deed dated May 8, 1964 which Plaintiff claimed was in default at the time foreclosure proceedings were started.[/FONT]

[FONT=&quot]Defendant appeared and answered that the Plaintiff created the money and credit upon its own books by bookkeeping entry as the consideration for the Note and Mortgage of May 8, 1964 and alleged failure of the consideration for the Mortgage Deed and alleged that the Sheriff's sale passed no title to plaintiff.[/FONT]

[FONT=&quot]The issues tried to the Jury were whether there was a lawful consideration and whether Defendant had waived his rights to complain about the consideration having paid on the Note for almost 3 years.[/FONT]

…………………………………….... …………………………………………
Deponent Witness

[FONT=&quot](5)[/FONT]​

[FONT=&quot]Mr. Morgan admitted that all of the money or credit which was used as a consideration was created upon their books, that this was standard banking practice exercised by their bank in combination with the Federal Reserve Bank of Minneapolis, another private Bank, further that he knew of no United States Statute or Law that gave the Plaintiff the authority to do this. Plaintiff further claimed that Defendant by using the ledger book created credit and by paying on the Note and Mortgage waived any right to complain about the Consideration and that the Defendant was estopped from doing so.[/FONT]

[FONT=&quot]At 12:15 on December 7, 1968 the Jury returned a unanimous verdict for the Defendant.[/FONT]

[FONT=&quot]Now therefore, by virtue of the authority vested in me pursuant to the Declaration of Independence, the Northwest Ordinance of 1787, the Constitution of United States and the Constitution and the laws of the State of Minnesota not inconsistent therewith;[/FONT]

[FONT=&quot]IT IS HEREBY ORDERED, ADJUDGED AND DECREED:[/FONT]

[FONT=&quot]1.That the Plaintiff is not entitled to recover the possession of Lot 19, Fairview Beach, Scott County, Minnesota according to the Plat thereof on file in the Register of Deeds office.[/FONT]

[FONT=&quot]2.That because of failure of a lawful consideration the Note and Mortgage dated May 8, 1964 are null and void.[/FONT]

[FONT=&quot]3.That the Sheriff's sale of the above-described premises held on June 26, 1967 is null and void, of no effect.[/FONT]

[FONT=&quot]4.That the Plaintiff has no right title or interest in said premises or lien thereon as is above described.[/FONT]

[FONT=&quot]5.That any provision in the Minnesota Constitution and any Minnesota Statute binding the jurisdiction of this Court is repugnant to the Constitution of the United States and to the Bill of Rights of the Minnesota Constitution and is null and void and that this Court has jurisdiction to render complete Justice in this Cause.[/FONT]
[FONT=&quot]The following memorandum and any supplementary memorandum made and filed by this Court in support of this Judgment is hereby made a part hereof by reference.[/FONT]

[FONT=&quot] BY THE COURT[/FONT]
[FONT=&quot] Dated December 9, 1968[/FONT]

[FONT=&quot]Justice MARTIN V. MAHONEY[/FONT]
[FONT=&quot]Credit River Township[/FONT]
[FONT=&quot]Scott County, Minnesota[/FONT]
​

…………………………………….... …………………………………………
Deponent Witness
[FONT=&quot]
[/FONT]…………………………………….... …………………………………………
Deponent Witness

(10)​

[FONT=&quot]I want the plaintiff to prove beyond any reasonable doubt, to me and the Supreme Court Of New South Wales that they have lost any money as stated by the words used in the plaintiffs statement of claim “[/FONT][FONT=&quot]all money owing by the defendant to the plaintiff”.[/FONT]

[FONT=&quot]There is no mention in the loan contract that any money was lent, so I want and insist that the plaintiff [/FONT][FONT=&quot]prove beyond any reasonable doubt, to me and the Supreme Court Of New South Wales, that they lent any money to me or my husband as stated by the plaintiff in the plaintiff’s statement of claim “[/FONT][FONT=&quot]all money owing by the defendant to the plaintiff.”[/FONT]

SWORN/AFFIRMED ……………………………………………………………



AT ………………………………………………………………………………..



Signature of deponent……………………………………………………………..



Signature of witness………………………………………………………………



Name of witness………………………………………………………………….



Capacity of witness……………………………………………………………….




Booooooooooooooooooo Casper

 

[Allegra]

how bout them eels hey.. ;-)

x

 

[Casper The Ghost]

how bout them eels hey.. ;-)

x

Hi Allegra
The Eels To Win By 30+ against the Dogs this Friday night.

Booooooooooooooooo Casper

 

[Allegra]

Hi Allegra
The Eels To Win By 30+ against the Dogs this Friday night.

Booooooooooooooooo Casper

now that i can understand!!

anyone going out after? and if so where??

x

 

[Casper The Ghost]

now that i can understand!!

anyone going out after? and if so where??

x

Well there are various clicky groups in this forum Allegra.... some will go back to the Leagues club, others will go home and party (someones home), while others will go to their favourite drinking holes and yet again there are others who will round up all the willing Eels girls (or boys) they can find and have an orgy wherever possible, even at the back of the stadium away from prying eyes. I have heard that some Dragons supporters are into cross-dressing and swapping partners so there will be a few excited Eels forum members enjoying the spills and losses of these willing Dragons supporters. As for Casper and his family, we are off to bed, early to rise with a big Eels winning grin on my/our face/s.

Boooooooooooooooooooooo Casper

 

[yy_cheng]

yy cheng, the banks loan zilch monies on deposit (no ones monies on deposit).

Check these out.......

Video: Money As Debt - Paul Grignon's 47-minute animated presentation:
http://nospam06.com.au/node/1323

The money creation myth: an animated 1937 French Canadian article:
How Banks Produce Credit Out Of Thin Air:
http://nospam06.com.au/node/15

Billions For The Bankers, Debts For The People
by Pastor Sheldon Emry - 1989:
http://nospam06.com.au/node/640

I WANT THE EARTH + 5% by Larry Harrigan:
http://nospam06.com.au/node/62

OUT OF THE RED AND INTO THE BLACK
By Len Clampett: http://nospam06.com.au/node/64

The Money Masters - DVD: http://nospam06.com.au/node/642

"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..."
- Prof. Carroll Quigley, renowned, late Georgetown macro-historian
(mentioned by former President Clinton in his first nomination acceptance speech),
author of Tragedy & Hope: A History of the World in Our Time

Booooooooooooooooo Casper

Casper.

Thanks for the links and the articles.

Banks Lend Money.

In order to remain viable, Australian Banks must meet the PAR ratio at 3% in the case that the bank requires money as a last resort due to say a bank run.

http://www.rba.gov.au/MediaReleases/1998/mr_98_05.html

However, in Australia, all bank deposits (NOTE BANK, not CU or other financial institutions) are insured. I believe it is 100% now due to the financial crisis but prior to that it was not.

Under Basel II the bank must maintain a Tier 1 and 2 capital ratio of 8%. That means that your deposits (which is a liability to the bank) can be entered into other contracts whereby the contracts are risk weighted. These contracts must not exceed a capital ratio of 8%.

In layman's terms, below is Terms and Condition doc from St George bank:

http://www.stgeorge.com.au/resources/sgb/downloads/loans/personal_terms_cond_0908.pdf

On page 4: it mentions :

St.George Personal Loan General T erms and Conditions

The meaning of words printed like this and some other key
words is explained in the section entitled “Meaning of
words” at the end of these terms and conditions.
At the back of this booklet (in addition to the terms and
conditions of your loan agreement) there is also a
description of your major rights and obligations under
the Consumer Credit Code.

1 What we lend and when
We agree to lend you the amount of credit
(by paying it as indicated in the Offer).
However, we only have to lend you the amount
of credit if:

There is no reference to what you mention in the Code of Banking Practise nor does the RBA restrict this. In the terms and conditions for opening an account, it does not mention anywhere what the bank will use your deposit for.

 

[THE HOG]

You two should get a room...

Alle you need to get a room with me...

 

[yy_cheng]

Sorry Hog.

Big HiJack huh?

 

[THE HOG]

You can say that...

I got a headache trying to keep up....would hate to take you guys on in the corporate world...

Go Parra!

 

[urban eel]

FMD talk about a threadjack

 

[Hollywood Jesus]

I dunno. Threads have an ebb and flow and just like any conversation can naturally move to another direction.

Then again, Cassie does like his hijacks...

 

[THE HOG]

I would like to see this thread continue until the GF....

When we win I will take a photo me and the $276K

 

[Hollywood Jesus]

Will you put that up with a photo of you being arrested for robbing a bank?