Senate panel will quiz banks on fresh wave of bush branch closures

New Daily
Feb 11 2023

“It is time to turn the tables on the banks,” one rural resident writes.

Another says: “Banks assume everyone is the same”.

A third: “This is not the city where everything is on tap”.

Those are just a few voices from regional Australia, where major banks have closed their doors and residents are fighting for the future of their towns.

Those kinds of concerns, aired at the NSW Coalition government’s Regional Banking Taskforce, will be the centre of a new Senate inquiry into rural branch closures, the first in 19 years to examine major banks’ exit from country Australia.

The Senate this week agreed the Rural and Regional Affairs and Transport References Committee should hold an inquiry into the branch closure process, examining the social and economic impacts on rural communities and possible solutions.

Shunned in the bush   :(
The taskforce, which ran for a year, received 416 submissions from rural residents distressed about dwindling essential services, limited access to cash, and the slow economic deaths of their towns.

It released its final report in September finding vulnerable people, including the elderly, disabled and Indigenous communities, faced greater challenges when banks closed their doors.

Farmers and small businesses also struggle as they often rely on face-to-face contact with bank managers who understand their enterprises.

The taskforce recommended banks strengthen their community consultation before shutting, but many councils and community groups believed it did not go far enough to stop branch closures.

A month after the final report, the Westpac group announced it would close at least nine country branches, including in the major opal mining region of Coober Pedy, in South Australia.

Coober Pedy locals now have to take their banking needs to Port Augusta or interstate to Alice Springs, both more than 500km away.

Junee, a farming and tourist town in the NSW Riverina, is set to lose its last bank, a Commonwealth branch, on March 3.

The shire council’s general manager James Davis said the town has led a fight against the banks, lobbying with other affected regions across Australia to call for a new inquiry.

“We’ve had a small victory in that sense,” Mr Davis told AAP.

“We see this as the start of an opportunity to have important matters heard that affect regional Australia, not just Junee.”

The Finance Sector Union has long been critical of the earlier taskforce, as its co-chairs were all Coalition MPs and senators, with representatives from the major banks and the Australian Banking Association among its members.

National Secretary Julia Angrisano said the Senate inquiry should hear from a range of voices and take its time to understand the broad ramifications of closures.

‘Reduce costs, maintain profits’
“Banks are shutting branches across Australia leaving consumers and businesses without access to financial services,” she said in a statement.

“It is clear that cutting the branch network is being done to reduce costs and maintain profits.”   :(

Many regional residents have called for the government to establish a public bank to help put them back in control of their finances and save local economies.

“If a public bank did exist, then the banks would naturally have to compete on service and come back into rural communities,” Mr Davis said.

“That way, everyone benefits.”

A banking association spokeswoman said its members are working to implement the taskforce’s recommendations and it would co-operate with the Senate committee.

Submissions to the Senate committee close on March 31 and it is due to report by the end of the year.

-AAP

Stop closing down our banks, and provide the service.   >:(

Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity.

To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas.

All of the world's banks are preparing us for the imminent introduction of CBDCs.

Currency (above, say $20) will ultimately be demonetised.

In the US, banks are already discouraging the issuing of $100 bills, often claiming they have run out of $100 bills.

Also, in the US, the holding of cash is sociologically strongly associated with economic freedom and so this move by their banks is generally deeply resented.

It doesn't take much of a search to find dozens of US sites that predict the coming of an apocalypse if currency notes are demonetised or removed from circulation.

The closing of rural branches and ATMs is part of the process of removing the infrastructure by which the banks' customers can obtain cash.

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.   

Belgarion wrote on Feb 12^th, 2023 at 10:03am:

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.

The depersonalisation of service via electronic banking has largely contributed to this.

However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.
It’s all changed now… so matter of fact and no warmth.

First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers.
Now that’s done… next is to force us away totally… to digitised money/no cash.
It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you.
So it looks like I’m hardly touching money anyway.
I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.
I like how our local pizza offer free can of drink if we pay cash.

Quote:

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.

As well as what VD's you had.

freediver wrote on Feb 12^th, 2023 at 9:39am:

Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas.

;D

Cheaper to get mugged old-school style in an alley way for $50
Than to be mugged online losing $50,000.
Who knows, maybe Banks are using their own Pirate affiliated Scammers to steal money from their own customers?

Sophia wrote on Feb 12^th, 2023 at 10:32am:

I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.

And thank god for that. Millions were being laundered through pokies.

MeisterEckhart wrote on Feb 12^th, 2023 at 11:15am:

Sophia wrote on Feb 12th, 2023 at 10:32am: I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. And thank god for that. Millions were being laundered through pokies.

Yeah apparently… dirty money made clean via laundering.
But not for the majority of us … more like hundreds  ;D
See… there’s always someone wrecking a good thing for the rest of us!
I wonder if the other states will follow NSW… I’d say so because… if millions need laundering and NSW is no go… they will easily go interstate.

freediver wrote on Feb 12^th, 2023 at 10:40am:

Quote: That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. As well as what VD's you had.

Is that what I think you wrote? :-?
Well what got known in the bank… stayed in the bank  :P
(Hairdressers were and still are more nosey and more gossipy)

But seriously…. It’s not VD anymore… bank or no bank… everyone wants to know or knows… your kovid situation/status!
It’s supposed to be medical privacy according to the privacy act  ::)

MeisterEckhart wrote on Feb 12^th, 2023 at 11:15am:

Sophia wrote on Feb 12th, 2023 at 10:32am: I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. And thank god for that. Millions were being laundered through pokies.

How did that work?

Aussie wrote on Feb 12^th, 2023 at 11:58am:

MeisterEckhart wrote on Feb 12th, 2023 at 11:15am: Sophia wrote on Feb 12th, 2023 at 10:32am: I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. And thank god for that. Millions were being laundered through pokies. How did that work?

Drop $100 into the machine.

Gamble $10 of it for a while.

Request a payout for the difference.

Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

MeisterEckhart wrote on Feb 12^th, 2023 at 12:10pm:

Aussie wrote on Feb 12th, 2023 at 11:58am: MeisterEckhart wrote on Feb 12th, 2023 at 11:15am: Sophia wrote on Feb 12th, 2023 at 10:32am: I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. And thank god for that. Millions were being laundered through pokies. How did that work? Drop $100 into the machine. Gamble $10 of it for a while. Request a payout for the difference. Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

Bloody hell.  How slack is that!!!

Sounds like all things 'American' are rearing it's ugly head in Australia.
Looks like the 'American' influence here is going to take the money and run.

MeisterEckhart wrote on Feb 12^th, 2023 at 12:10pm:

Drop $100 into the machine. Gamble $10 of it for a while. Request a payout for the difference. Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

Exactly.    I read last week that pokies are one of the major ways
of laundering money through the pokies.

Except... instead of feeding $100 into its maws, the druggies are feeding
thousands into them.  The example they gave was $5,000 for a $5 play!

The obvious question is why will the governments, of all colours, not legislate
to ban this?  Why are the casinos effectively and knowingly condoning money
laundering?  Well, I'd guess it's because of the massive gambling tax windfall
that finds its way into government coffers, and in return the lax oversight of
the government gambling authorities.    A nice sweetheart deal?

•  Government revenue from gambling in Australia for financial year 2019/2020
   was $6.6 billion.  What Federal treasurer wouldn't welcome that money jam?

•  In 2017, Australia ranked first in a list of countries with the highest gambling
   losses worldwide with losses of $1,386 per adult.

       >:(

AusGeoff wrote on Feb 12^th, 2023 at 1:12pm:

MeisterEckhart wrote on Feb 12th, 2023 at 12:10pm: Drop $100 into the machine. Gamble $10 of it for a while. Request a payout for the difference. Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds. Exactly.    I read last week that pokies are one of the major ways of laundering money through the pokies. Except... instead of feeding $100 into its maws, the druggies are feeding thousands into them.  The example they gave was $5,000 for a $5 play! The obvious question is why will the governments, of all colours, not legislate to ban this?  Why are the casinos effectively and knowingly condoning money laundering?  Well, I'd guess it's because of the massive gambling tax windfall that finds its way into government coffers, and in return the lax oversight of the government gambling authorities.    A nice sweetheart deal? •  Government revenue from gambling in Australia for financial year 2019/2020    was $6.6 billion.  What Federal treasurer wouldn't welcome that money jam? •  In 2017, Australia ranked first in a list of countries with the highest gambling    losses worldwide with losses of $1,386 per adult.        >:(

Not even a money launderer would do that.

Aussie wrote on Feb 12^th, 2023 at 1:20pm:

AusGeoff wrote on Feb 12th, 2023 at 1:12pm: Exactly.    I read last week that pokies are one of the major ways of laundering money through the pokies. Except... instead of feeding $100 into its maws, the druggies are feeding thousands into them.  The example they gave was $5,000 for a $5 play! Not even a money launderer would do that.

Why not?   A couple of posts back you'd never heard of it, but
now you're an expert on money laundering through the pokies?

        ;)

What sort of wanker would be happy to toss $5000.00 for just $5.00?

AusGeoff wrote on Feb 12^th, 2023 at 1:58pm:

Aussie wrote on Feb 12th, 2023 at 1:20pm: AusGeoff wrote on Feb 12th, 2023 at 1:12pm: Exactly.    I read last week that pokies are one of the major ways of laundering money through the pokies. Except... instead of feeding $100 into its maws, the druggies are feeding thousands into them.  The example they gave was $5,000 for a $5 play! Not even a money launderer would do that. Why not?   A couple of posts back you'd never heard of it, but now you're an expert on money laundering through the pokies?         ;)

A laundromat would provide a better return, or an adult shop, or a tattoo joint, or barbershop.  A brothel even.

Aussie wrote on Feb 12^th, 2023 at 2:34pm:

What sort of wanker would be happy to toss $5000.00 for just $5.00?

You misunderstood…
Someone can put in $5,000 into the poker machine…
It shows you have $5,000 credit… you play only $5… then press “pay out” or something…
You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you.
Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc

Our machines in my area show only up to $10,000 gamble at any time.
If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque.

Up until nsw premier made that announcing of pokies becoming cashless… I had no idea why there was this notice on our pokie machines about maximum bet being $10,000!

But what I think is ridiculous…. The reform won’t happen until 31 Dec 2028!
That’s like 6 years away!
Why so late? If they want to stomp out crime/drug money etc?

Sophia wrote on Feb 12^th, 2023 at 10:32am:

MeisterEckhart wrote on Feb 12th, 2023 at 10:10am: Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills? That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. It’s all changed now… so matter of fact and no warmth. First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers. Now that’s done… next is to force us away totally… to digitised money/no cash. It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you. So it looks like I’m hardly touching money anyway. I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. I like how our local pizza offer free can of drink if we pay cash.

Don't forget they're already starting to phase out cheques.  Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts.  The oldies that rely on cheques in more rural settings will be snuffed.  They don't know how to use electronic,  banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

John Smith wrote on Feb 13^th, 2023 at 5:06am:

Sophia wrote on Feb 12th, 2023 at 10:32am: MeisterEckhart wrote on Feb 12th, 2023 at 10:10am: Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills? That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. It’s all changed now… so matter of fact and no warmth. First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers. Now that’s done… next is to force us away totally… to digitised money/no cash. It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you. So it looks like I’m hardly touching money anyway. I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. I like how our local pizza offer free can of drink if we pay cash. Don't forget they're already starting to phase out cheques.  Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts.  The oldies that rely on cheques in more rural settings will be snuffed.  They don't know how to use electronic,  banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

What Malcolm Frazer warned us about.
Probably money safer under a mattress than being scammed online as is rife at present with billions being scammed per annum in Australia alone!
I get 2-3 stupid scam texts per day! I block then delete.
But alas cash will be obsolete too. Exactly when I don’t know.
Trouble is with cash in home… as was the case in my area I live in which is farming… a lot of market gardeners come home after the days taking at Vic Market only to be robbed on Highway in their trucks (hence they carried a gun) and as the case with a few we know around here… farm house invaded, people tied up and then threatened/demanded to know where money is with floor boards ripped up.
These property owners have cut down all bush/trees so no one is obscured hiding/waiting, with high electric fences and cameras all around.
So in recent times I had thought it was safer not to carry much cash on us so we don’t get mugged.
Only to be replaced by internet/online scammers.

freediver wrote on Feb 12^th, 2023 at 9:39am:

Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas.

Since when has providing banking services ever been a charity?

It has nothing to with Unions - & Industry based superannuation funds are not banks.

Yet banks run superannuation schemes.

Do they do that for love?

Just more of you double standards.

The Commonwealth Bank was "the peoples" bank... sold off by Politicians from Union backgrounds i.e. Bob Hawke & Paul Keating.

Sophia wrote on Feb 12^th, 2023 at 2:48pm:

Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque.

You'd think someone like Aussie with his legalese would know that?  ;D

John Smith wrote on Feb 13^th, 2023 at 5:06am:

Sophia wrote on Feb 12th, 2023 at 10:32am: MeisterEckhart wrote on Feb 12th, 2023 at 10:10am: Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills? That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. It’s all changed now… so matter of fact and no warmth. First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers. Now that’s done… next is to force us away totally… to digitised money/no cash. It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you. So it looks like I’m hardly touching money anyway. I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. I like how our local pizza offer free can of drink if we pay cash. Don't forget they're already starting to phase out cheques.  Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts.  The oldies that rely on cheques in more rural settings will be snuffed.  They don't know how to use electronic,  banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

Thus making the elderly more vunerable to home invasion & assault by criminals.

Yes the clubs I belong to are being advised now by Westpac & the ANZ that they will be doing away with their chequing accounts & not issuing any more cheque books.

Gnads wrote on Feb 13^th, 2023 at 9:37am:

John Smith wrote on Feb 13th, 2023 at 5:06am: Sophia wrote on Feb 12th, 2023 at 10:32am: MeisterEckhart wrote on Feb 12th, 2023 at 10:10am: Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills? That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. It’s all changed now… so matter of fact and no warmth. First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers. Now that’s done… next is to force us away totally… to digitised money/no cash. It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you. So it looks like I’m hardly touching money anyway. I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. I like how our local pizza offer free can of drink if we pay cash. Don't forget they're already starting to phase out cheques.  Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts.  The oldies that rely on cheques in more rural settings will be snuffed.  They don't know how to use electronic,  banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options Thus making the elderly more vunerable to home invasion & assault by criminals. Yes the clubs I belong to are being advised now by Westpac & the ANZ that they will be doing away with their chequing accounts & not issuing any more cheque books.

Our ANZ bank haven’t told me about cheque books becoming obsolete yet!
I might go in next time I need to do banking and ask.

And yes the crims follow wherever the money is… from cash under mattress to pick pocket/grab handbag and run, to online scamming.
Pokie venues won’t allow more than $2000 win cash payout and they also restrict how much money is withdrawn from their teller machine… $200 per transaction only up to $500 limit per day total.
So if you want $500 you need to do 3 withdrawals.

I’m just wondering how the pokies will be cashless in future?
Do we just swipe our credit/debit card?
Or do we get one of their cards and load it with our money to use.

Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account.

Gnads wrote on Feb 13^th, 2023 at 9:32am:

Sophia wrote on Feb 12th, 2023 at 2:48pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque. You'd think someone like Aussie with his legalese would know that?  ;D

Unlike you, I don't hang around with people who know the details of laundering via gambling.

Aussie wrote on Feb 13^th, 2023 at 10:34am:

Gnads wrote on Feb 13th, 2023 at 9:32am: Sophia wrote on Feb 12th, 2023 at 2:48pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque. You'd think someone like Aussie with his legalese would know that?  ;D Unlike you, I don't hang around with people who know the details of laundering via gambling.

Uh… knowing how it’s done by working it out in recent light is one thing… hanging around those that do that sort of thing is another…. I may have have worked out how it’s done and why… but I don’t know of anyone that does it … and I certainly don’t have a lazy $5,000 or $10,000 cash sitting around …  :-(
but I do like having a couple hours on occasions playing the pokies. So I understand their payment methods.

issuevoter wrote on Feb 13^th, 2023 at 10:27am:

Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account.

I still remember how the 90’s burnt a lot of people and many lost the shirts off their backs… one guy we know in business nearly lost his business/house and said he was lucky and that he would NEVER trust banks again.

So with this in mind… when these extremely low interest rates were offered…and house prices souring ….
I kind of knew this would be entrapment ….I just felt it in my bones….
Now it’s happening all over again….
Funny isn’t it… expressions like stimulate the economy, then to slow/bring inflation down ….
It’s all manipulation…. Profits before people… closures of banks in country areas is proof of that… not providing adequate services.

Now there’s the threat of more interest rates hikes….
How is it supposed to work out….to turn the tables on the banks?

Aussie wrote on Feb 13^th, 2023 at 10:34am:

Gnads wrote on Feb 13th, 2023 at 9:32am: Sophia wrote on Feb 12th, 2023 at 2:48pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque. You'd think someone like Aussie with his legalese would know that?  ;D Unlike you, I don't hang around with people who know the details of laundering via gambling.

As a lawyer, I'm sure you know a thing or two about criminals, does that mean....?

I know people in plenty of low places...never a money launderer.

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

No one would deny that; but banking (and so called investment banking) has morphed into money creation for bankers looking after high net worth individuals. 

The state needs to muscle in, on the money-creation privilege - see MMT.

Aussie wrote on Feb 13^th, 2023 at 11:29am:

I know people in plenty of low places...never a money launderer.

Honestly Aussie! As if anyone is going to advertise they are  ::)
Much the same as that nice charming male could be a pedo or a wife abuser, or a killer with bodies buried under the house.
These people are very good at masking their true selves. And how could any of us ever suspect them or even know of it…
……until later when something exposes them.

Aussie wrote on Feb 13^th, 2023 at 10:34am:

Gnads wrote on Feb 13th, 2023 at 9:32am: Sophia wrote on Feb 12th, 2023 at 2:48pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque. You'd think someone like Aussie with his legalese would know that?  ;D Unlike you, I don't hang around with people who know the details of laundering via gambling.

Don’t look at me. The only laundering I know involves a 10 kilo Bosch front loader and lots of laundry liquid.

issuevoter wrote on Feb 13^th, 2023 at 10:27am:

Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account.

We kind of are turning the tables on our banks.

How? Our borrowings are locked in at 2% for a further 3 years.

Our savings are locked in at 5%.

It’s all about careful timing. And luck.

Aussie wrote on Feb 12^th, 2023 at 2:34pm:

What sort of wanker would be happy to toss $5000.00 for just $5.00?

Um..... I don't think logic is one of your better skills Aussie?    ;D


Aussie wrote on Feb 12^th, 2023 at 2:34pm:

A laundromat would provide a better return, or an adult shop, or a tattoo joint, or barbershop.  A brothel even.

What?   How do you launder money through a retail outlet or a brothel? 
And how would it—according to you—be a more reliable method?

Aussie wrote on Feb 13^th, 2023 at 11:29am:

I know people in plenty of low places...never a money launderer.

so they're ok if all they done is bashings and murders, but them money launderers, gawd... sh!t under your shoe.

Laundering money in Australia is easy according to my filthy rich Chinese neighbours. In fact Australia is the preferred destination for laundering money. The Chinese nationals highly recommend Australia as the go to country for cleaning money.

I’ve even been told HOW it’s done. ☹️😞🥺

Aussie wrote on Feb 13^th, 2023 at 11:29am:

I know people in plenty of low places...never a money launderer.

leave the sewer out of this

Gnads wrote on Feb 13^th, 2023 at 9:37am:

John Smith wrote on Feb 13th, 2023 at 5:06am: Sophia wrote on Feb 12th, 2023 at 10:32am: MeisterEckhart wrote on Feb 12th, 2023 at 10:10am: Belgarion wrote on Feb 12th, 2023 at 10:03am: Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads.  Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.    The depersonalisation of service via electronic banking has largely contributed to this. However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills? That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name. It’s all changed now… so matter of fact and no warmth. First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers. Now that’s done… next is to force us away totally… to digitised money/no cash. It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you. So it looks like I’m hardly touching money anyway. I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies. I like how our local pizza offer free can of drink if we pay cash. Don't forget they're already starting to phase out cheques.  Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts.  The oldies that rely on cheques in more rural settings will be snuffed.  They don't know how to use electronic,  banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options Thus making the elderly more vunerable to home invasion & assault by criminals. Yes the clubs I belong to are being advised now by Westpac & the ANZ that they will be doing away with their chequing accounts & not issuing any more cheque books.

I wasn't aware Westpac and ANZ had moved already. I knew that the Com bank had and Australia Post will from May no longer accept cheques for Australia Post services. They will still accept cheques made out to third parties so you can still pay the council etc with a cheque .... for now

AusGeoff wrote on Feb 13^th, 2023 at 12:08pm:

Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? Um..... I don't think logic is one of your better skills Aussie?    ;D Aussie wrote on Feb 12th, 2023 at 2:34pm: A laundromat would provide a better return, or an adult shop, or a tattoo joint, or barbershop.  A brothel even. What?   How do you launder money through a retail outlet or a brothel?  And how would it—according to you—be a more reliable method?

you can run as many customers through your till as you like with cash based businesses. Unless the ATO is going to stand at your door and count them, how would they know if Bobby really paid $500 for 15 mins with Lisa? :D

John Smith wrote on Feb 13^th, 2023 at 1:18pm:

AusGeoff wrote on Feb 13th, 2023 at 12:08pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? Um..... I don't think logic is one of your better skills Aussie?    ;D Aussie wrote on Feb 12th, 2023 at 2:34pm: A laundromat would provide a better return, or an adult shop, or a tattoo joint, or barbershop.  A brothel even. What?   How do you launder money through a retail outlet or a brothel?  And how would it—according to you—be a more reliable method? you can run as many customers through your till as you like with cash based businesses. Unless the ATO is going to stand at your door and count them, how would they know if Bobby really paid $500 for 15 mins with Lisa? :D

Larry 500- paid for by Bobby, I doubt it very much!

  A good STURDY scrub brush coming out-- !!

Lisa Jones wrote on Feb 13^th, 2023 at 12:17pm:

Laundering money in Australia is easy according to my filthy rich Chinese neighbours. In fact Australia is the preferred destination for laundering money. The Chinese nationals highly recommend Australia as the go to country for cleaning money. I’ve even been told HOW it’s done. ☹️😞🥺

Chinese? All I could think of is in Casino on Craps tables. No matter if it’s on board cruise ship pokies or Melbourne Crown casino… I walk past and I see mainly all solemn looking Chinese faces on them craps tables. There’s even a private room where “members” go.
That’s where big money gambler tables are!
I will stick to my 1c and 2c pokies  :)
But I do look around and notice a lot … being partially deaf I look at people and things more than the average bear.

Ken O’Keefe … The financial system is the head of the snake…

https://vt.tiktok.com/ZS85SofHV/

Sophia wrote on Feb 13^th, 2023 at 3:42pm:

Lisa Jones wrote on Feb 13th, 2023 at 12:17pm: Laundering money in Australia is easy according to my filthy rich Chinese neighbours. In fact Australia is the preferred destination for laundering money. The Chinese nationals highly recommend Australia as the go to country for cleaning money. I’ve even been told HOW it’s done. ☹️😞🥺 Chinese? All I could think of is in Casino on Craps tables. No matter if it’s on board cruise ship pokies or Melbourne Crown casino… I walk past and I see mainly all solemn looking Chinese faces on them craps tables. There’s even a private room where “members” go. That’s where big money gambler tables are! I will stick to my 1c and 2c pokies  :) But I do look around and notice a lot … being partially deaf I look at people and things more than the average bear.

Actually I never thought of gambling but you’re right....the Chinese do gamble heavily.

Even so, the quickest, easiest most efficient way to launder money today in Australia isn’t through gambling.

Lisa Jones wrote on Feb 13^th, 2023 at 12:07pm:

issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck.

Who's giving you 5%?

I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it.


issuevoter wrote on Feb 13^th, 2023 at 10:27am:

Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account.

It did stimulate the economy. We would have had a pretty bad recession if they hadn't.


Gnads wrote on Feb 13^th, 2023 at 9:25am:

freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity?

Since people expected to get the service without paying the real cost.

freediver wrote on Feb 14^th, 2023 at 6:26am:

I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it.

There’s that problem it gets stuffed in your wallet or in your office to physically bring into bank later ….then it takes many “bank days” before it clears….Trouble with cheques… they can bounce. And very often they have as one could not know if funds were in account or not and then there was the bank charge for bounced cheques.
I have a cheque book but I maybe only write 2-3 cheques per year.
If it becomes obsolete, then I can live without it.
I’ve been weened from it by trending towards online banking, direct debit, Visa card, etc

I'd give up the bank tomorrow if I could still get my pay in those yellow envelopes.
I heard you can still request to be played in cash.
Much preferable to me than some greazy banker promising the world while stripping the universe from around it.
I hate banks, and the slime balls that run them.

Captain Caveman wrote on Feb 14^th, 2023 at 7:19am:

I'd give up the bank tomorrow if I could still get my pay in those yellow envelopes. I heard you can still request to be played in cash. Much preferable to me than some greazy banker promising the world while stripping the universe from around it. I hate banks, and the slime balls that run them.

Banks have the privilege of creating money which  borrowers must repay with interest.

It's time for the state (with a treasury and central bank)  which is the issuer of the nation's currency to be authorized to issue its own debt free money to fund public programs.

Then the state wouldn't need your "taxpayer money", and private banks would be reduced to their lending function in the private sector, rather than selling government bonds to rich people - interest on which which has to be repaid by the rest of us via taxes. 

Aussie wrote on Feb 13^th, 2023 at 10:34am:

Gnads wrote on Feb 13th, 2023 at 9:32am: Sophia wrote on Feb 12th, 2023 at 2:48pm: Aussie wrote on Feb 12th, 2023 at 2:34pm: What sort of wanker would be happy to toss $5000.00 for just $5.00? You misunderstood… Someone can put in $5,000 into the poker machine… It shows you have $5,000 credit… you play only $5… then press “pay out” or something… You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you. Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc Our machines in my area show only up to $10,000 gamble at any time. If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque. You'd think someone like Aussie with his legalese would know that?  ;D Unlike you, I don't hang around with people who know the details of laundering via gambling.

Neither do I ..... seems I'm just a tad more worldly than you.

And it doesn't take an Einstein to work out depositing $2000 ill gotten gains(not yours in the first place) in a poker machine & playing $5 or $10 down & pressing the collect button will then get you $ 1,990 clean money .... a small fee to pay....

if you're arsey Aussie ;D you may increase the total & make a bigger clean profit.  ::)

issuevoter wrote on Feb 13^th, 2023 at 10:30pm:

Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%?

2.5 to 3% tops for term deposits.

freediver wrote on Feb 14^th, 2023 at 6:26am:

I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost.

Yeah? what's the real cost?

Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford.

So instead of being minders & users/investors of peoples money for a small return .....

they are charging people to use their own money.

Gnads wrote on Feb 14^th, 2023 at 9:36am:

freediver wrote on Feb 14th, 2023 at 6:26am: I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost. Yeah? what's the real cost? Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford. So instead of being minders & users/investors of peoples money for a small return ..... they are charging people to use their own money.

The problem with the banks argument (and FD's) is that it's not about making a profit. Banks already make a very good profit with the branches operating ... it's all about INCREASING profits.

Four to five billion dollars a year profit isn't enough ::)

In the past couple of years, we've had four banks close down
in our little town.

The Commonwealth, National, ANZ, and Westpac.

The Commonwealth was privatised by the Labor government
in 1996, which should never have been allowed to happen.
I'd say APRA should've forced the Commonwealth to remain
open and not close any/all branches under its licensing terms.
Surely this could be instituted under APRA's supervision of
Australian ADIs (authorised deposit-taking institutions)?

The Australian Transaction Reports and Analysis Centre (AUSTRAC)
launched civil proceedings in 2017 in the Federal Court of Australia,
alleging that CBA had breached money laundering and terrorism
financing laws on 53,700 occasions between 2012 and 2015.

How is it that the "peoples" bank, the CBA, which was under direct
government ownership and control for 100 years can now be in
the hands of money-grubbing shareholders?  How did we ever let
Keating get away with this back in the day?

No wonder its branches are being closed.     >:(

I haven't been to a bank branch in the past 10 years except to bank cash takings for a charity.
For ourselves, we only do electronic and phone banking.

AusGeoff wrote on Feb 14^th, 2023 at 11:10am:

In the past couple of years, we've had four banks close down in our little town. The Commonwealth, National, ANZ, and Westpac. The Commonwealth was privatised by the Labor government in 1996, which should never have been allowed to happen. I'd say APRA should've forced the Commonwealth to remain open and not close any/all branches under its licensing terms. Surely this could be instituted under APRA's supervision of Australian ADIs (authorised deposit-taking institutions)? The Australian Transaction Reports and Analysis Centre (AUSTRAC) launched civil proceedings in 2017 in the Federal Court of Australia, alleging that CBA had breached money laundering and terrorism financing laws on 53,700 occasions between 2012 and 2015. How is it that the "peoples" bank, the CBA, which was under direct government ownership and control for 100 years can now be in the hands of money-grubbing shareholders?  How did we ever let Keating get away with this back in the day? No wonder its branches are being closed.     >:(

That's why I prickle when Labor stalwarts call Keating "one of the true believers"....

he never was & never will be....

his only claim to fame was his acid tongue & sarcastic put downs.

He & Peter Costello were on a par ... both slimey, smarmy bastards.

Gnads wrote on Feb 14^th, 2023 at 1:44pm:

AusGeoff wrote on Feb 14th, 2023 at 11:10am: In the past couple of years, we've had four banks close down in our little town. The Commonwealth, National, ANZ, and Westpac. The Commonwealth was privatised by the Labor government in 1996, which should never have been allowed to happen. I'd say APRA should've forced the Commonwealth to remain open and not close any/all branches under its licensing terms. Surely this could be instituted under APRA's supervision of Australian ADIs (authorised deposit-taking institutions)? The Australian Transaction Reports and Analysis Centre (AUSTRAC) launched civil proceedings in 2017 in the Federal Court of Australia, alleging that CBA had breached money laundering and terrorism financing laws on 53,700 occasions between 2012 and 2015. How is it that the "peoples" bank, the CBA, which was under direct government ownership and control for 100 years can now be in the hands of money-grubbing shareholders?  How did we ever let Keating get away with this back in the day? No wonder its branches are being closed.     >:( That's why I prickle when Labor stalwarts call Keating "one of the true believers".... he never was & never will be.... his only claim to fame was his acid tongue & sarcastic put downs. He & Peter Costello were on a par ... both slimey, smarmy bastards.

Yeah … my mum used to always refer to him as Paul Cheating  >:( :D

John Smith wrote on Feb 14^th, 2023 at 9:46am:

Gnads wrote on Feb 14th, 2023 at 9:36am: freediver wrote on Feb 14th, 2023 at 6:26am: I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost. Yeah? what's the real cost? Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford. So instead of being minders & users/investors of peoples money for a small return ..... they are charging people to use their own money. The problem with the banks argument (and FD's) is that it's not about making a profit. Banks already make a very good profit with the branches operating ... it's all about INCREASING profits. Four to five billion dollars a year profit isn't enough ::)

The Banks have to pay tax on these profits.

Many super funds have bank shares.

Can't remember the last time i needed to go into a bank. Coles and Woolies let you take cash out if there are no ATMs around.

Baronvonrort wrote on Feb 14^th, 2023 at 3:56pm:

John Smith wrote on Feb 14th, 2023 at 9:46am: Gnads wrote on Feb 14th, 2023 at 9:36am: freediver wrote on Feb 14th, 2023 at 6:26am: I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost. Yeah? what's the real cost? Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford. So instead of being minders & users/investors of peoples money for a small return ..... they are charging people to use their own money. The problem with the banks argument (and FD's) is that it's not about making a profit. Banks already make a very good profit with the branches operating ... it's all about INCREASING profits. Four to five billion dollars a year profit isn't enough ::) The Banks have to pay tax on these profits. Many super funds have bank shares. Can't remember the last time i needed to go into a bank. Coles and Woolies let you take cash out if there are no ATMs around.

And? Every business pays tax on profits.  How is that even relevant?

And good for you that you're able to avoid banks. There are millions of older people however who do need to go to a bank. I have a customer who because of her age and health is unable to remember any passwords or numbers. The local bank staff all know her and off her health conditions so they have an arrangement in place so she can still access her pension . Close the branch and she'll have zero options.

Captain Caveman wrote on Feb 14^th, 2023 at 7:19am:

I'd give up the bank tomorrow if I could still get my pay in those yellow envelopes. I heard you can still request to be played in cash. Much preferable to me than some greazy banker promising the world while stripping the universe from around it. I hate banks, and the slime balls that run them.

You can request anything. You are only limited by your imagination.

Gnads wrote on Feb 14^th, 2023 at 9:36am:

freediver wrote on Feb 14th, 2023 at 6:26am: I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost. Yeah? what's the real cost? Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford. So instead of being minders & users/investors of peoples money for a small return ..... they are charging people to use their own money.

Think about it. Rent on a fancy building in the main street. Salaries for half a dozen employees. Times 4 banks if you want to be really demanding.

Where do you think all that money is going to come from in a small town? Do you think small towns are actually worse off for not paying for that service?

Gnads wrote on Feb 14^th, 2023 at 9:32am:

issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits.

Rubbish! Look harder!

Frank wrote on Feb 14^th, 2023 at 1:10pm:

I haven't been to a bank branch in the past 10 years except to bank cash takings for a charity. For ourselves, we only do electronic and phone banking.

Internet banking is so much easier IMO. It takes a few minutes to check your balances, move money around, open new accounts and pay bills etc.

Quote:

John_Smith And good for you that you're able to avoid banks. There are millions of older people however who do need to go to a bank. I have a customer who because of her age and health is unable to remember any passwords or numbers. The local bank staff all know her and off her health conditions so they have an arrangement in place so she can still access her pension . Close the branch and she'll have zero options

I agree and I'm very sympathetic as I see this happening particularly in my area with older farmers here…
To move on too quickly with technology in a 100% way while much older generations are still amongst us…puts a lot of pressure on them to have family or friends to rely on for help. It makes them lose their independence as they have survived war only to feel helpless in these “enlightened times” ?
Many don’t even have mobile phones. It’s only in the last 5 years we weaned my bro on law off landline onto mobile. That’s as much tech he can handle.
There has to be a safety net for the tech unsavvy.

Baronvonrort wrote on Feb 14^th, 2023 at 3:56pm:

John Smith wrote on Feb 14th, 2023 at 9:46am: Gnads wrote on Feb 14th, 2023 at 9:36am: freediver wrote on Feb 14th, 2023 at 6:26am: I hate getting cheques. Anyone who gives you cheques these days is gambling on you not bothering to cash it. issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. It did stimulate the economy. We would have had a pretty bad recession if they hadn't. Gnads wrote on Feb 13th, 2023 at 9:25am: freediver wrote on Feb 12th, 2023 at 9:39am: Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity. To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas. Since when has providing banking services ever been a charity? Since people expected to get the service without paying the real cost. Yeah? what's the real cost? Banks have rationalised thousands of staff, shut down branches nationally & turned into target focused on-sellers of services..... many that people can't afford. So instead of being minders & users/investors of peoples money for a small return ..... they are charging people to use their own money. The problem with the banks argument (and FD's) is that it's not about making a profit. Banks already make a very good profit with the branches operating ... it's all about INCREASING profits. Four to five billion dollars a year profit isn't enough ::) The Banks have to pay tax on these profits. Many super funds have bank shares. Can't remember the last time i needed to go into a bank. Coles and Woolies let you take cash out if there are no ATMs around.

Not all the time.

Lisa Jones wrote on Feb 14^th, 2023 at 7:45pm:

Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder!

Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies.

4.65% is for 2 years minimum. Many have very high minimum amounts.

Some are $1million minimum.

So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts.

https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE

Gnads wrote on Feb 15^th, 2023 at 9:23am:

Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE

Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money.

Now let’s get back to you talking utter crap about Term Deposits.

Initially your comment was 👇


Quote:

2.5 to 3% tops for term deposits

After my post (to you) you then came back with this 👇


Quote:

Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts.

And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆

Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions.

Less than 60 seconds!

Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇


https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12

Lisa Jones wrote on Feb 15^th, 2023 at 10:33am:

and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions.

but NOTHING AT 5%, which is what you claimed you had your imaginary money locked at

and don't embarrass yourself further by citing 'changing interest rates', rates are now at the highest level since pre-covid times. Any changes have pushed rates UP so 4.8% is the highest rate in years


you really should leave any discussions on economics to your pretend husband, the pretend accountant ... even a pretend accountant knows more than you do
:D :D :D

Lisa Jones wrote on Feb 13^th, 2023 at 12:07pm:

We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck.

What exactly do you mean by "borrowings"?  I'm just wondering
what bank lends money at 2%.

And which bank pays 5% on term deposits?  The best I can get
with my bank is 3.35%, although I note that NAB and ANZ pay
4% and 4.1% respectively.

AusGeoff wrote on Feb 15^th, 2023 at 12:08pm:

Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. What exactly do you mean by "borrowings"?  I'm just wondering what bank lends money at 2%. And which bank pays 5% on term deposits?  The best I can get with my bank is 3.35%, although I note that NAB and ANZ pay 4% and 4.1% respectively.

Everyone I know who has a mortgage well over a million is locked in at 2% for 3 years.

(That term will expire in 2.5 years).

And as regards locking in our 50 grand at 5% that offer was available 6 months back.

The best offer I can find TODAY is 4.8%.

What’s your question again?

Lisa Jones wrote on Feb 15^th, 2023 at 10:33am:

Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts.

And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆

Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions.

Less than 60 seconds!

Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇


https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12

[/quote]

AusGeoff can’t you read English? Your idea of a decent investment term deposit interest rate is my idea of underperforming. And failure.

*
How about…..5.65%  :)
For 12 months  …

https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/

Lisa Jones wrote on Feb 15^th, 2023 at 10:33am:

Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts.

And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆

Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions.

Less than 60 seconds!

Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇


https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12
[/quote]


Don't increase the font size i.e. shout at me or you can go & get well & truly phukked.

Capise? I'm not playing any stupid games with your personalities.

So take heart .... I couldn't give a phukk what you say or think.

Mull over that for a bit ... then come back & tell me whose multi I am ...

you bloody idiot. >:(

Sophia wrote on Feb 15^th, 2023 at 5:47pm:

* How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/

That's not exactly a term deposit

Sophia wrote on Feb 15^th, 2023 at 5:47pm:

* How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/

Shhhhh. I don’t like telling these ignorant nutters about cash management accounts and the various other ways I invest our money for fixed terms.

Also I never accept any advertised rate UNLESS I can jump in and personally haggle for a better rate. You can only do that of course if you have a decent initial deposit.

Gnads wrote on Feb 15^th, 2023 at 7:42pm:

Lisa Jones wrote on Feb 15th, 2023 at 10:33am: Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆 Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions. Less than 60 seconds! Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇 https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12

Don't increase the font size i.e. shout at me or you can go & get well & truly phukked.

Capise? I'm not playing any stupid games with your personalities.

So take heart .... I couldn't give a phukk what you say or think.

Mull over that for a bit ... then come back & tell me whose multi I am ...

you bloody idiot. >:([/quote]

Awww diddums! And all because I pwned your ignorant arse and showed you up for not knowing much about investing money. Your latest come back consists of nothing more than utter irrelevant BS! Get over it pal! No one cares if the sensitive wings of your ego have been slightly ruffled.

Millionaire bank CEOs are our superiors.

John Smith wrote on Feb 15^th, 2023 at 8:26pm:

Sophia wrote on Feb 15th, 2023 at 5:47pm: * How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/ That's not exactly a term deposit

What is La Trobe 12 month term account?
12 Month Term Account aims to provide Investors with a reasonably stable and predictable income based on a monthly variable rate of return, investing in a wide range of loans secured by a mortgage in a range of industry sectors, with geographic diversification across Australia.

Still an option for good returns though.
This was advertised on tv tonight with this 12 month special @ 5.65%
So I looked it up.
This type of investment with good returns would suit some people that don’t want access to their money too soon. Maybe retirees?

Postmodern Trendoid III wrote on Feb 15^th, 2023 at 8:46pm:

Millionaire bank CEOs are our superiors.

Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment.
I said to hubby….”heavy hearted? More like heavy wallet!”

How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending!
These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!!

So their solution is… to expand the mortgage to 40 years so monthly payments are lower.
::)

Sophia wrote on Feb 15^th, 2023 at 9:49pm:

Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::)

I don’t believe you heard that figure correctly. Why? It’s just too ridiculous.

Lisa Jones wrote on Feb 15^th, 2023 at 9:52pm:

Sophia wrote on Feb 15th, 2023 at 9:49pm: Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::) I don’t believe you heard that figure correctly. Why? It’s just too ridiculous.

Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on.

The nerve of the RBA saying banks haven’t been tough enough to bring down inflation!

Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower?
They’re the ones causing inflation with escalating costs.
Why so untouchable?

They’re cruising for a bruising and they will cause a recession… not us the people.

Sophia wrote on Feb 15^th, 2023 at 10:17pm:

Lisa Jones wrote on Feb 15th, 2023 at 9:52pm: Sophia wrote on Feb 15th, 2023 at 9:49pm: Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::) I don’t believe you heard that figure correctly. Why? It’s just too ridiculous. Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on. The nerve of the RBA saying banks haven’t been tough enough to bring down inflation! Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower? They’re the ones causing inflation with escalating costs. Why so untouchable? They’re cruising for a bruising and they will cause a recession… not us the people.

The RBA responds to failures of politicians who ruin our economy.

If our politicians did a good job with economic policy there would be no rise with interest rates.

It's going to get a lot worse.

Baronvonrort wrote on Feb 15^th, 2023 at 10:33pm:

Sophia wrote on Feb 15th, 2023 at 10:17pm: Lisa Jones wrote on Feb 15th, 2023 at 9:52pm: Sophia wrote on Feb 15th, 2023 at 9:49pm: Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::) I don’t believe you heard that figure correctly. Why? It’s just too ridiculous. Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on. The nerve of the RBA saying banks haven’t been tough enough to bring down inflation! Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower? They’re the ones causing inflation with escalating costs. Why so untouchable? They’re cruising for a bruising and they will cause a recession… not us the people. The RBA responds to failures of politicians who ruin our economy. If our politicians did a good job with economic policy there would be no rise with interest rates. It's going to get a lot worse.

I’m still trying to get over the notion of a 40 year mortgage 😳

It’s absolutely bizarre.

I mean our kids are paying Income Tax plus Uni fees off after they finish Uni. Those Uni fees are huge nowadays and that is what is holding back our good and smart kids (who have done the right thing and busted their guts to study hard and get into and through Uni) from getting that deposit to buy a home.

Let me see if I understand this correctly :

Our kids are educated from age 4 to 18. That covers pre school, infants, primary & high school. They can’t get a full time job.

From age 18 to age 22/23 they go through tertiary study. Those 4 to 5 years of Uni really mean they can’t get a full time job.

Once they graduate say at age 23/24 they’re stuck with a huge Uni debt + income tax for decades.

Now you’re telling me that the proposed “new normal“ is for our kids to get into a 40 year mortgage noose.

Well for that to happen our kids must first find a full time job (you’re not gonna get a mortgage otherwise). And they will need 25% (deposit/stamp duty/legal fees/due diligence etc).

To get to this position while paying income tax AND a hefty Uni debt back they MIGHT get there at age 30. Even then they will need help from Mum n Dad.

Now add 40 to 30 and they get to pay off their mortgage at age 70.

And that’s just for a bloody unit in Sydney!

Units in Sydney (average 2 bedder in an average area) are around 800K now. These units are a high risk venture irrespective of where they’re located because you are only buying AIR SPACE! You don’t own the walls or floors or ground.

So my question is this : who’s educated kids with good jobs will be able to afford an actual home ie an average house sitting on land in an average area of Sydney. Note : That figure right now is around $2 million.

Answer?

1. The rich
2. The foreign rich

Can someone remind me again which Federal political party is in office right now?i

Lisa Jones wrote on Feb 15^th, 2023 at 11:13pm:

Baronvonrort wrote on Feb 15th, 2023 at 10:33pm: Sophia wrote on Feb 15th, 2023 at 10:17pm: Lisa Jones wrote on Feb 15th, 2023 at 9:52pm: Sophia wrote on Feb 15th, 2023 at 9:49pm: Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::) I don’t believe you heard that figure correctly. Why? It’s just too ridiculous. Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on. The nerve of the RBA saying banks haven’t been tough enough to bring down inflation! Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower? They’re the ones causing inflation with escalating costs. Why so untouchable? They’re cruising for a bruising and they will cause a recession… not us the people. The RBA responds to failures of politicians who ruin our economy. If our politicians did a good job with economic policy there would be no rise with interest rates. It's going to get a lot worse. I’m still trying to get over the notion of a 40 year mortgage 😳 It’s absolutely bizarre.

The idea of it mentioned (expanding the 30 yr to 40 yr mortgage) is to make repayments cheaper as on average… most are now paying $1000 a month extra with rates risen in quick succession.

But… I can’t see this as a permanent long term answer, maybe for immediate relief in the now, however… whatever savings any family could make with an extended 10 year mortgage repayment plan, will be short lived simply because … as mentioned by that RBA guy… they do not know when the interest rates will stop or even if it’s reached it’s peak!

They may give with one hand… but will take that and more with another hand!

I always thought it was a better idea to try and pay as much as you can in the first year or two of a mortgage to make it easier in the long haul and to shorten the duration of the loan, thus saving heaps at the end.
What do we see instead? These super low interest rates these past few years (I have never in my life seen it so low) and this was a time when…. Knuckling down to put in extra would’ve been so advantageous. But no… many just didn’t get it  ::)
That opportunity is now fading fast…
Remember the adage play now pay later…whereas it could’ve been pay now play later.

Babes - maybe I'm just a cynical old bastard ... but I saw this guillotine coming when interest rates were pegged so low that everyone went insane buying everything in sight, and raising the cost of housing so that the New Peasantry Tenant has become a norm while the few romp to the bank and the banks romp on defaults and deaths of marriages and families and thus create an instant double market* of demand so as to raise the cost of housing higher and higher.

Hands up those who didn't know this was the plan all along?  Suck 'em all in - then shut the gate and chop 'em up... Blind Freddy could see this one coming....


* just like the MADIF creating around 1.5 times the available workforce by imposing women en masse into the economy - when you can enforce a regime of constant divorce and family disintegration, you instantly create - with a rate of divorce of 50% - around 1.5 times your captive market requiring housing and most often renting after owning ... ergo - you can improve YOUR profitability by ensuring that families are disintegrated... you get the cream of the mortgage until divorce time, then you get every cent back on 'defaulters' anyway, then you get to re-mortgage the next sucker at a higher rate of interest... and so it goes on...

Is there anyone out there who doesn't KNOW in his or her water that these arseholes actually think that way?  And then they agitate the (stupid) government to bring in 200,000 more immigrants every year to do the same - push the prices through the roof for their own profit by guaranteeing a forever upward market in demand but never supply?

Are you with me yet?  Imagine dividie preaching to me how the financial/economic/social contract system is broken... pure comedy ...

ARE YOU WITH ME IN OVERTHROWING THESE ARSEHOLES?  OR ARE YOU JUST SITTING AROUND buggerNG SPIDERS?

Sophia wrote on Feb 15^th, 2023 at 9:42pm:

John Smith wrote on Feb 15th, 2023 at 8:26pm: Sophia wrote on Feb 15th, 2023 at 5:47pm: * How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/ That's not exactly a term deposit What is La Trobe 12 month term account? 12 Month Term Account aims to provide Investors with a reasonably stable and predictable income based on a monthly variable rate of return, investing in a wide range of loans secured by a mortgage in a range of industry sectors, with geographic diversification across Australia. Still an option for good returns though. This was advertised on tv tonight with this 12 month special @ 5.65% So I looked it up. This type of investment with good returns would suit some people that don’t want access to their money too soon. Maybe retirees?

It's an investment portfolio.  Sure, the rates are good but they aren't guaranteed. You also run the risk (albeit a low risk) of losing your investment. Always read the fine print



Quote:

The rates of return on your investment are current at 1 February 2023, determined monthly, may change, not guaranteed (may be lower than expected) and applicable rate paid at start of the following month.  Credit Fund investment is not a bank deposit & investors risk losing their principal investment.  Withdrawal rights are subject to liquidity and may be delayed / suspended.  Before deciding to invest, you should consider the PDS from the issuer La Trobe Financial Asset Management Limited AFSL 222213.  You can read the PDS and Target Market Determinations on our website or ask for a copy by calling us on 13 80 10.

Sophia wrote on Feb 15^th, 2023 at 10:17pm:

The nerve of the RBA saying banks haven’t been tough enough to bring down inflation!

The RBA is doing it's job because OTHERS (govt) have failed. If the RBA didn't raise interest rates your lettuce would be up to $30 by now and you'd be crying that someone should do something about it. Interest rates are the reserve banks only lever to curb inflation ... the rest is up to govt policy

Sophia wrote on Feb 15^th, 2023 at 9:42pm:

John Smith wrote on Feb 15th, 2023 at 8:26pm: Sophia wrote on Feb 15th, 2023 at 5:47pm: * How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/ That's not exactly a term deposit What is La Trobe 12 month term account? 12 Month Term Account aims to provide Investors with a reasonably stable and predictable income based on a monthly variable rate of return, investing in a wide range of loans secured by a mortgage in a range of industry sectors, with geographic diversification across Australia. Still an option for good returns though. This was advertised on tv tonight with this 12 month special @ 5.65% So I looked it up. This type of investment with good returns would suit some people that don’t want access to their money too soon. Maybe retirees?

1. It’s performed quite well in recent years.

2. That may explain why it was recently taken over by a Canadian multinational corporation.

3. You should direct your specific questions regarding investing in this entity to your accountant/financial advisor because these people are qualified to give you advice AND they know your personal details/circumstances.

Sophia wrote on Feb 15^th, 2023 at 11:37pm:

Lisa Jones wrote on Feb 15th, 2023 at 11:13pm: Baronvonrort wrote on Feb 15th, 2023 at 10:33pm: Sophia wrote on Feb 15th, 2023 at 10:17pm: Lisa Jones wrote on Feb 15th, 2023 at 9:52pm: Sophia wrote on Feb 15th, 2023 at 9:49pm: Postmodern Trendoid III wrote on Feb 15th, 2023 at 8:46pm: Millionaire bank CEOs are our superiors. Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment. I said to hubby….”heavy hearted? More like heavy wallet!” How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending! These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!! So their solution is… to expand the mortgage to 40 years so monthly payments are lower. ::) I don’t believe you heard that figure correctly. Why? It’s just too ridiculous. Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on. The nerve of the RBA saying banks haven’t been tough enough to bring down inflation! Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower? They’re the ones causing inflation with escalating costs. Why so untouchable? They’re cruising for a bruising and they will cause a recession… not us the people. The RBA responds to failures of politicians who ruin our economy. If our politicians did a good job with economic policy there would be no rise with interest rates. It's going to get a lot worse. I’m still trying to get over the notion of a 40 year mortgage 😳 It’s absolutely bizarre. The idea of it mentioned (expanding the 30 yr to 40 yr mortgage) is to make repayments cheaper as on average… most are now paying $1000 a month extra with rates risen in quick succession. But… I can’t see this as a permanent long term answer, maybe for immediate relief in the now, however… whatever savings any family could make with an extended 10 year mortgage repayment plan, will be short lived simply because … as mentioned by that RBA guy… they do not know when the interest rates will stop or even if it’s reached it’s peak! They may give with one hand… but will take that and more with another hand! I always thought it was a better idea to try and pay as much as you can in the first year or two of a mortgage to make it easier in the long haul and to shorten the duration of the loan, thus saving heaps at the end. What do we see instead? These super low interest rates these past few years (I have never in my life seen it so low) and this was a time when…. Knuckling down to put in extra would’ve been so advantageous. But no… many just didn’t get it  ::) That opportunity is now fading fast… Remember the adage play now pay later…whereas it could’ve been pay now play later.

Re real estate :

1. Jump in as soon as you can even if it means as an investor first.

2. Position Position Position <—this is where people stuff up the most. They jump in and buy in outer city/regional areas where the market does not move. There are a few exceptions of course but these only prove the rule.

3. Stay away from units/townhouses/villas/duplexes IF POSSIBLE. You won’t make money there. The REAL money is in detached homes built on the ground in capital city suburbia. Unfortunately these types of properties are fast disappearing. Don’t even look at battle axe properties! Those have already been subdivided and the real money had been made!

4. Don’t sell. Upgrade your property instead and use it as leverage to borrow more. Then go back to 1. and start the cycle again.

• Note : Always remember YOUR HEALTH AND HAPPINESS COMES FIRST!

• Note : Some people (for whatever reason) just cannot cope with/understood the concept of a mortgage commitment. These people are usually (not always) called children and they need to learn a few life lessons about commitment. A good way to do this is to get them to rent a property so their developing frontal lobe can finally wake up to the reality of sustainable and sensible financial independence. We have done this with our older children (they’ve rented our properties) and oh boy did they learn a few lessons about the cost of living and how to be responsible about what they earn and what they spend.

Lisa Jones wrote on Feb 15^th, 2023 at 8:41pm:

Gnads wrote on Feb 15th, 2023 at 7:42pm: Lisa Jones wrote on Feb 15th, 2023 at 10:33am: Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆 Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions. Less than 60 seconds! Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇 https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12 Don't increase the font size i.e. shout at me or you can go & get well & truly phukked. Capise? I'm not playing any stupid games with your personalities. So take heart .... I couldn't give a phukk what you say or think. Mull over that for a bit ... then come back & tell me whose multi I am ... you bloody idiot. >:(

Awww diddums! And all because I pwned your ignorant arse and showed you up for not knowing much about investing money. Your latest come back consists of nothing more than utter irrelevant BS! Get over it pal! No one cares if the sensitive wings of your ego have been slightly ruffled.

[/quote]

Get phukked you nut job.

Who am I today then?

You never answered Meister - "and then there's the PMs?"

If you were half as smart as you think you are you'd be dangerous.

And as I said to you .... I don't give a fat rats clacker what you think .... you're all over the place like a mad womans shyte.

Gnads wrote on Feb 16^th, 2023 at 12:29pm:

Lisa Jones wrote on Feb 15th, 2023 at 8:41pm: Gnads wrote on Feb 15th, 2023 at 7:42pm: Lisa Jones wrote on Feb 15th, 2023 at 10:33am: Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆 Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions. Less than 60 seconds! Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇 https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12 Don't increase the font size i.e. shout at me or you can go & get well & truly phukked. Capise? I'm not playing any stupid games with your personalities. So take heart .... I couldn't give a phukk what you say or think. Mull over that for a bit ... then come back & tell me whose multi I am ... you bloody idiot. >:( Awww diddums! And all because I pwned your ignorant arse and showed you up for not knowing much about investing money. Your latest come back consists of nothing more than utter irrelevant BS! Get over it pal! No one cares if the sensitive wings of your ego have been slightly ruffled.

Get phukked you nut job.

[/quote]

Is that 👆 supposed to make me think you’re some type of tough keyboard typist? Sorry pal! If anything it confirms my earlier post. 😐

Lisa Jones wrote on Feb 16^th, 2023 at 11:37am:

Sophia wrote on Feb 15th, 2023 at 9:42pm: John Smith wrote on Feb 15th, 2023 at 8:26pm: Sophia wrote on Feb 15th, 2023 at 5:47pm: * How about…..5.65%  :) For 12 months  … https://www.latrobefinancial.com.au/investments/investment-solutions/12-month-term-account/ That's not exactly a term deposit What is La Trobe 12 month term account? 12 Month Term Account aims to provide Investors with a reasonably stable and predictable income based on a monthly variable rate of return, investing in a wide range of loans secured by a mortgage in a range of industry sectors, with geographic diversification across Australia. Still an option for good returns though. This was advertised on tv tonight with this 12 month special @ 5.65% So I looked it up. This type of investment with good returns would suit some people that don’t want access to their money too soon. Maybe retirees? 1. It’s performed quite well in recent years. 2. That may explain why it was recently taken over by a Canadian multinational corporation. 3. You should direct your specific questions regarding investing in this entity to your accountant/financial advisor because these people are qualified to give you advice AND they know your personal details/circumstances.

https://financialnewswire.com.au/funds-management/asic-names-5-funds-over-marketing-concerns/

👆Interesting information here Sophia. ASIC is another organisation which can be contacted if you’re not sure.

If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC.

Lisa Jones wrote on Feb 16^th, 2023 at 3:37pm:

If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC.

Don't you always claim that your imaginary husband is an accountant? You don't trust him? :D :D :D

Lisa Jones wrote on Feb 16^th, 2023 at 1:14pm:

Gnads wrote on Feb 16th, 2023 at 12:29pm: Lisa Jones wrote on Feb 15th, 2023 at 8:41pm: Gnads wrote on Feb 15th, 2023 at 7:42pm: Lisa Jones wrote on Feb 15th, 2023 at 10:33am: Gnads wrote on Feb 15th, 2023 at 9:23am: Lisa Jones wrote on Feb 14th, 2023 at 7:45pm: Gnads wrote on Feb 14th, 2023 at 9:32am: issuevoter wrote on Feb 13th, 2023 at 10:30pm: Lisa Jones wrote on Feb 13th, 2023 at 12:07pm: issuevoter wrote on Feb 13th, 2023 at 10:27am: Yes, NOW is the time to turn the tables on the banks, after they had been giving away loans at next to no interest for the last five years, on the Reserves theory that it would stimulate the economy. It was the fantasy of professional economists. It got so bad that Bankers started to seriously consider charging you to have an account. We kind of are turning the tables on our banks. How? Our borrowings are locked in at 2% for a further 3 years. Our savings are locked in at 5%. It’s all about careful timing. And luck. Who's giving you 5%? 2.5 to 3% tops for term deposits. Rubbish! Look harder! Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. Some are $1million minimum. So my 2.5% to 3% is a good average of what's available with varying lock in time frames, minimums & maximum amounts. https://www.finder.com.au/term-deposits?futm_medium=cpc&futm_source=google&futm_campaign=1654081672~67488803470&futm_term=term%20deposit%20interest%20rates~e~g&futm_content=~~EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE~&gclid=EAIaIQobChMI9Ky9jZGW_QIVWnmLCh1VbgAoEAAYASAAEgJC1vD_BwE Well unfortunately for you I AM a smart @rse but only when it comes to investing after tax money because I was taught (as I was growing up) by poor hard working European migrant parents and extended family how to invest carefully and wisely in real estate AND in financial banking products/services. My parents arrived essentially as refugees with absolutely nothing but a suitcase of clothes and photos of their homeland. They also carried a heart and mind that was full of hope and gratitude to be able to come to Australia in the mid 1960’s. The fact that the Australian govt PAID for them to come back then was something they never forgot. Because of all this I can honestly say I owe whatever I’ve achieved in life to my European parents (and heritage). And that includes their smarts in making money. Now let’s get back to you talking utter crap about Term Deposits. Initially your comment was 👇 Quote: 2.5 to 3% tops for term deposits After my post (to you) you then came back with this 👇 [quote] Ok smart arse - 0.05% to 4.65% across 106 banks, credit unions & building societies. 4.65% is for 2 years minimum. Many have very high minimum amounts. And yet again I can see that YOU are AS INCOMPETENT as ever when it comes to investing money. Don’t worry ... my husband (who is an experienced accountant) is just as incompetent as you. So take heart ...you’re in good company there 😂🤣😆 Now ... in between cooking dinner for tonight and cleaning the kitchen plus hanging out 2 loads of washing I took my iPhone out of my pocket and IT TOOK ME LESS THAN 60 seconds to find a term deposit investment interest rate of 4.8%. With bugger all minimum amount conditions. Less than 60 seconds! Moving on....as you know these rates do change but even TODAY you can invest here at 4.8% 👇 https://www.ratecity.com.au/term-deposits/judo-bank/personal-term-deposit?minimumDeposit=50000&minimumTerm=12 Don't increase the font size i.e. shout at me or you can go & get well & truly phukked. Capise? I'm not playing any stupid games with your personalities. So take heart .... I couldn't give a phukk what you say or think. Mull over that for a bit ... then come back & tell me whose multi I am ... you bloody idiot. >:( Awww diddums! And all because I pwned your ignorant arse and showed you up for not knowing much about investing money. Your latest come back consists of nothing more than utter irrelevant BS! Get over it pal! No one cares if the sensitive wings of your ego have been slightly ruffled. Get phukked you nut job.

Is that 👆 supposed to make me think you’re some type of tough keyboard typist? Sorry pal! If anything it confirms my earlier post. 😐



[/quote]


You confirm your status at every post.  ;D

That’s right I confirm my status at pwning your arse. Get over yourself! Just because you’re a bloke and you’re older than me ... sigh.

Oh and re
Quote:

You confirm your status at every post

👆 “with” every post NOT “at” every post.

It must be very unsettling when a woman who is younger than you corrects your English grammar.

Oh and before I forget ... English is my SECOND language.

Quote:

BANKS DON’T RATE SAVERS CLARE ARMSTRONG - NATIONAL POLITICAL EDITOR BANKS have been put on notice to pay up interest rates on savings deposits, as high inflation sparks a rise in unemployment and home sales slump. The nation’s jobless rate climbed slightly to 3.7 per cent in the past month, according to new figures from the Australian Bureau of Statistics, with the situation expected to worsen as inflation fuels a cost-of-living crisis. Treasurer Jim Chalmers said the rise in unemployment was still expected to continue up to the “middle fours” as the economy slowed. “I’m certainly concerned that we’ll have inflation in our economy which is higher than we’d liked for longer than we’d like and even as the unemployment rate most likely ticks up a bit more,” he said. New figures from Housing Industry Association (HIA) showed a 46.7 per cent decline in new home sales in January compared to a year ago as rate rises also cool demand for properties. As NAB and Commonwealth Bank posted huge profits, Mr Chalmers again urged all banks to “pass on the interest rate rises to savers as quickly as you pass on the interest rate rises to mortgage holders”. “I understand that people are furious, when mortgage rates go up more or less immediately, and savings rates go up much slower or not at all,” he said. “This is the reason why I’ve asked the ACCC to do some work in this space.” Mr Chalmers also hit back at reports he did not speak to RBA Governor Philip Lowe on rates, arguing the pair talked “frequently” about the economy. “We do talk about the pressures on the economy, the steps that the government is taking and the steps that the Reserve Bank is taking,” he said. Mr Chalmers said as with past treasurers there was “no pressure” from him on what interest rates should or shouldn’t do out of “respect” for the independence of the RBA. Opposition Treasury spokesman Angus Taylor said the latest jobs data was an “ominous” early sign of a “dangerous combination” of high inflation beside job losses. “Higher cost of living, job losses,” he said. “These are the outcomes that are the worst-case scenario for Australians under the current circumstances and we need a government with a coherent plan that can deal with those issues.” Australian Banking Association chief executive Anna Bligh said banks “stand ready” to assist the ACCC in an “open and transparent manner”. “The purpose of the ACCC inquiry is to determine how savers are benefiting from a higher interest rate environment and I expect that the final report … will provide clearer answers on how banks are dealing with this issue,” she said. This week NAB announced a 18.7 per cent jump in cash earnings to $2.15bn in the last three months to December 31. Commonwealth Bank announced a cash net profit after tax of $5.15bn for the last six months of 2022. On Thursday ANZ announced it expected the RBA would continue to raise rates two more months in a row up to 4.1 per cent in May this year. The bank does not expect any easing in the cash rate until November 2024.

The way interest rates on mortgages are increased straight away ...... but the increase in interest on savings is delayed or not passed on at all .....


is exactly the same as Fuel companies jacking up the price at the bowser immediately there is a rise in the price of a barrel of oil....

then takes weeks to lower prices at the bowser or not at all when there is a drop in the price of oil.

No wonder people suffer from financial anemia when there are so many business parasites in the economy.

John Smith wrote on Feb 16^th, 2023 at 4:54pm:

Lisa Jones wrote on Feb 16th, 2023 at 3:37pm: If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC. Don't you always claim that your imaginary husband is an accountant? You don't trust him? :D :D :D

I’ll just leave that 👆 here.

It’s important for everyone to see the dumbarse in action. I will give them a chance to make fun of him too.

Gnads wrote on Feb 17^th, 2023 at 7:57am:

Quote: BANKS DON’T RATE SAVERS CLARE ARMSTRONG - NATIONAL POLITICAL EDITOR BANKS have been put on notice to pay up interest rates on savings deposits, as high inflation sparks a rise in unemployment and home sales slump. The nation’s jobless rate climbed slightly to 3.7 per cent in the past month, according to new figures from the Australian Bureau of Statistics, with the situation expected to worsen as inflation fuels a cost-of-living crisis. Treasurer Jim Chalmers said the rise in unemployment was still expected to continue up to the “middle fours” as the economy slowed. “I’m certainly concerned that we’ll have inflation in our economy which is higher than we’d liked for longer than we’d like and even as the unemployment rate most likely ticks up a bit more,” he said. New figures from Housing Industry Association (HIA) showed a 46.7 per cent decline in new home sales in January compared to a year ago as rate rises also cool demand for properties. As NAB and Commonwealth Bank posted huge profits, Mr Chalmers again urged all banks to “pass on the interest rate rises to savers as quickly as you pass on the interest rate rises to mortgage holders”. “I understand that people are furious, when mortgage rates go up more or less immediately, and savings rates go up much slower or not at all,” he said. “This is the reason why I’ve asked the ACCC to do some work in this space.” Mr Chalmers also hit back at reports he did not speak to RBA Governor Philip Lowe on rates, arguing the pair talked “frequently” about the economy. “We do talk about the pressures on the economy, the steps that the government is taking and the steps that the Reserve Bank is taking,” he said. Mr Chalmers said as with past treasurers there was “no pressure” from him on what interest rates should or shouldn’t do out of “respect” for the independence of the RBA. Opposition Treasury spokesman Angus Taylor said the latest jobs data was an “ominous” early sign of a “dangerous combination” of high inflation beside job losses. “Higher cost of living, job losses,” he said. “These are the outcomes that are the worst-case scenario for Australians under the current circumstances and we need a government with a coherent plan that can deal with those issues.” Australian Banking Association chief executive Anna Bligh said banks “stand ready” to assist the ACCC in an “open and transparent manner”. “The purpose of the ACCC inquiry is to determine how savers are benefiting from a higher interest rate environment and I expect that the final report … will provide clearer answers on how banks are dealing with this issue,” she said. This week NAB announced a 18.7 per cent jump in cash earnings to $2.15bn in the last three months to December 31. Commonwealth Bank announced a cash net profit after tax of $5.15bn for the last six months of 2022. On Thursday ANZ announced it expected the RBA would continue to raise rates two more months in a row up to 4.1 per cent in May this year. The bank does not expect any easing in the cash rate until November 2024. The way interest rates on mortgages are increased straight away ...... but the increase in interest on savings is delayed or not passed on at all ..... is exactly the same as Fuel companies jacking up the price at the bowser immediately there is a rise in the price of a barrel of oil.... then takes weeks to lower prices at the bowser or not at all when there is a drop in the price of oil. No wonder people suffer from financial anemia when there are so many business parasites in the economy.

Nothing new. It’s been going on since ummm forever.

Banks don’t make money out of people. They make their REAL money out of sheeple.

Fuel is a completely different issue. You don’t need to borrow money for that. You pay at point of sale. However you’re quite right about the delay in passing on/lowering the cost of fuel per litre though. That’s how the fuel industry makes their money.  Shareholders in the fuel industry include well known Super fund brands. Have you got Super?

Lisa Jones wrote on Feb 17^th, 2023 at 8:05am:

Gnads wrote on Feb 17th, 2023 at 7:57am: Quote: BANKS DON’T RATE SAVERS CLARE ARMSTRONG - NATIONAL POLITICAL EDITOR BANKS have been put on notice to pay up interest rates on savings deposits, as high inflation sparks a rise in unemployment and home sales slump. The nation’s jobless rate climbed slightly to 3.7 per cent in the past month, according to new figures from the Australian Bureau of Statistics, with the situation expected to worsen as inflation fuels a cost-of-living crisis. Treasurer Jim Chalmers said the rise in unemployment was still expected to continue up to the “middle fours” as the economy slowed. “I’m certainly concerned that we’ll have inflation in our economy which is higher than we’d liked for longer than we’d like and even as the unemployment rate most likely ticks up a bit more,” he said. New figures from Housing Industry Association (HIA) showed a 46.7 per cent decline in new home sales in January compared to a year ago as rate rises also cool demand for properties. As NAB and Commonwealth Bank posted huge profits, Mr Chalmers again urged all banks to “pass on the interest rate rises to savers as quickly as you pass on the interest rate rises to mortgage holders”. “I understand that people are furious, when mortgage rates go up more or less immediately, and savings rates go up much slower or not at all,” he said. “This is the reason why I’ve asked the ACCC to do some work in this space.” Mr Chalmers also hit back at reports he did not speak to RBA Governor Philip Lowe on rates, arguing the pair talked “frequently” about the economy. “We do talk about the pressures on the economy, the steps that the government is taking and the steps that the Reserve Bank is taking,” he said. Mr Chalmers said as with past treasurers there was “no pressure” from him on what interest rates should or shouldn’t do out of “respect” for the independence of the RBA. Opposition Treasury spokesman Angus Taylor said the latest jobs data was an “ominous” early sign of a “dangerous combination” of high inflation beside job losses. “Higher cost of living, job losses,” he said. “These are the outcomes that are the worst-case scenario for Australians under the current circumstances and we need a government with a coherent plan that can deal with those issues.” Australian Banking Association chief executive Anna Bligh said banks “stand ready” to assist the ACCC in an “open and transparent manner”. “The purpose of the ACCC inquiry is to determine how savers are benefiting from a higher interest rate environment and I expect that the final report … will provide clearer answers on how banks are dealing with this issue,” she said. This week NAB announced a 18.7 per cent jump in cash earnings to $2.15bn in the last three months to December 31. Commonwealth Bank announced a cash net profit after tax of $5.15bn for the last six months of 2022. On Thursday ANZ announced it expected the RBA would continue to raise rates two more months in a row up to 4.1 per cent in May this year. The bank does not expect any easing in the cash rate until November 2024. The way interest rates on mortgages are increased straight away ...... but the increase in interest on savings is delayed or not passed on at all ..... is exactly the same as Fuel companies jacking up the price at the bowser immediately there is a rise in the price of a barrel of oil.... then takes weeks to lower prices at the bowser or not at all when there is a drop in the price of oil. No wonder people suffer from financial anemia when there are so many business parasites in the economy. Nothing new. It’s been going on since ummm forever. Banks don’t make money out of people. They make their REAL money out of sheeple. Fuel is a completely different issue. You don’t need to borrow money for that. You pay at point of sale. However you’re quite right about the delay in passing on/lowering the cost of fuel per litre though. That’s how the fuel industry makes their money.  Shareholders in the fuel industry include well known Super fund brands. Have you got Super?

How are you off for underpants?

From what I can see - the problem IS the concept of banks and shares - and the way they have far too much inside running - and the RBA is not a bank but a formed head group of bankers - in how things should be handled.

With the RBA having its hands on the strings and governments in bed with it and all the other nonsenses that put profits before people - the ordinary person is just fair game for their plundering of the national wealth and forcing it into ever more narrow forms of investment that effectively produce nothing but paper.

People's Bank NOW!!  Some want the RABO or Post Office banking to become what the Commonwealth Bank used to be...... and thus force these low-life scheming bastards in fervent pursuit of their profits and those of their shareholders over the never-ending field of dead families and marriages to come to heel ..... easy divorce and rapacious banking processes are an unholy alliance - ESPECIALLY when the banks have their hands on the reins and in the pockets of politicians.

Then they need to prioritise home ownership instead of promoting investment in housing for nothing more than profit, while using some amazing tax dodges that do nothing for anyone except the banks and the investors.

I'm prepared to bet that maybe 2-3 of you even begin to understand how that works in reality.

Gnads wrote on Feb 17^th, 2023 at 8:40am:

Lisa Jones wrote on Feb 17th, 2023 at 8:05am: Gnads wrote on Feb 17th, 2023 at 7:57am: Quote: BANKS DON’T RATE SAVERS CLARE ARMSTRONG - NATIONAL POLITICAL EDITOR BANKS have been put on notice to pay up interest rates on savings deposits, as high inflation sparks a rise in unemployment and home sales slump. The nation’s jobless rate climbed slightly to 3.7 per cent in the past month, according to new figures from the Australian Bureau of Statistics, with the situation expected to worsen as inflation fuels a cost-of-living crisis. Treasurer Jim Chalmers said the rise in unemployment was still expected to continue up to the “middle fours” as the economy slowed. “I’m certainly concerned that we’ll have inflation in our economy which is higher than we’d liked for longer than we’d like and even as the unemployment rate most likely ticks up a bit more,” he said. New figures from Housing Industry Association (HIA) showed a 46.7 per cent decline in new home sales in January compared to a year ago as rate rises also cool demand for properties. As NAB and Commonwealth Bank posted huge profits, Mr Chalmers again urged all banks to “pass on the interest rate rises to savers as quickly as you pass on the interest rate rises to mortgage holders”. “I understand that people are furious, when mortgage rates go up more or less immediately, and savings rates go up much slower or not at all,” he said. “This is the reason why I’ve asked the ACCC to do some work in this space.” Mr Chalmers also hit back at reports he did not speak to RBA Governor Philip Lowe on rates, arguing the pair talked “frequently” about the economy. “We do talk about the pressures on the economy, the steps that the government is taking and the steps that the Reserve Bank is taking,” he said. Mr Chalmers said as with past treasurers there was “no pressure” from him on what interest rates should or shouldn’t do out of “respect” for the independence of the RBA. Opposition Treasury spokesman Angus Taylor said the latest jobs data was an “ominous” early sign of a “dangerous combination” of high inflation beside job losses. “Higher cost of living, job losses,” he said. “These are the outcomes that are the worst-case scenario for Australians under the current circumstances and we need a government with a coherent plan that can deal with those issues.” Australian Banking Association chief executive Anna Bligh said banks “stand ready” to assist the ACCC in an “open and transparent manner”. “The purpose of the ACCC inquiry is to determine how savers are benefiting from a higher interest rate environment and I expect that the final report … will provide clearer answers on how banks are dealing with this issue,” she said. This week NAB announced a 18.7 per cent jump in cash earnings to $2.15bn in the last three months to December 31. Commonwealth Bank announced a cash net profit after tax of $5.15bn for the last six months of 2022. On Thursday ANZ announced it expected the RBA would continue to raise rates two more months in a row up to 4.1 per cent in May this year. The bank does not expect any easing in the cash rate until November 2024. The way interest rates on mortgages are increased straight away ...... but the increase in interest on savings is delayed or not passed on at all ..... is exactly the same as Fuel companies jacking up the price at the bowser immediately there is a rise in the price of a barrel of oil.... then takes weeks to lower prices at the bowser or not at all when there is a drop in the price of oil. No wonder people suffer from financial anemia when there are so many business parasites in the economy. Nothing new. It’s been going on since ummm forever. Banks don’t make money out of people. They make their REAL money out of sheeple. Fuel is a completely different issue. You don’t need to borrow money for that. You pay at point of sale. However you’re quite right about the delay in passing on/lowering the cost of fuel per litre though. That’s how the fuel industry makes their money.  Shareholders in the fuel industry include well known Super fund brands. Have you got Super? How are you off for underpants?

WTF??? Well I must say I wasn’t expecting that 👆

Why would you ask me such a question?

😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳😳

Lisa Jones wrote on Feb 17^th, 2023 at 8:05am:

Gnads wrote on Feb 17th, 2023 at 7:57am: Quote: BANKS DON’T RATE SAVERS CLARE ARMSTRONG - NATIONAL POLITICAL EDITOR BANKS have been put on notice to pay up interest rates on savings deposits, as high inflation sparks a rise in unemployment and home sales slump. The nation’s jobless rate climbed slightly to 3.7 per cent in the past month, according to new figures from the Australian Bureau of Statistics, with the situation expected to worsen as inflation fuels a cost-of-living crisis. Treasurer Jim Chalmers said the rise in unemployment was still expected to continue up to the “middle fours” as the economy slowed. “I’m certainly concerned that we’ll have inflation in our economy which is higher than we’d liked for longer than we’d like and even as the unemployment rate most likely ticks up a bit more,” he said. New figures from Housing Industry Association (HIA) showed a 46.7 per cent decline in new home sales in January compared to a year ago as rate rises also cool demand for properties. As NAB and Commonwealth Bank posted huge profits, Mr Chalmers again urged all banks to “pass on the interest rate rises to savers as quickly as you pass on the interest rate rises to mortgage holders”. “I understand that people are furious, when mortgage rates go up more or less immediately, and savings rates go up much slower or not at all,” he said. “This is the reason why I’ve asked the ACCC to do some work in this space.” Mr Chalmers also hit back at reports he did not speak to RBA Governor Philip Lowe on rates, arguing the pair talked “frequently” about the economy. “We do talk about the pressures on the economy, the steps that the government is taking and the steps that the Reserve Bank is taking,” he said. Mr Chalmers said as with past treasurers there was “no pressure” from him on what interest rates should or shouldn’t do out of “respect” for the independence of the RBA. Opposition Treasury spokesman Angus Taylor said the latest jobs data was an “ominous” early sign of a “dangerous combination” of high inflation beside job losses. “Higher cost of living, job losses,” he said. “These are the outcomes that are the worst-case scenario for Australians under the current circumstances and we need a government with a coherent plan that can deal with those issues.” Australian Banking Association chief executive Anna Bligh said banks “stand ready” to assist the ACCC in an “open and transparent manner”. “The purpose of the ACCC inquiry is to determine how savers are benefiting from a higher interest rate environment and I expect that the final report … will provide clearer answers on how banks are dealing with this issue,” she said. This week NAB announced a 18.7 per cent jump in cash earnings to $2.15bn in the last three months to December 31. Commonwealth Bank announced a cash net profit after tax of $5.15bn for the last six months of 2022. On Thursday ANZ announced it expected the RBA would continue to raise rates two more months in a row up to 4.1 per cent in May this year. The bank does not expect any easing in the cash rate until November 2024. The way interest rates on mortgages are increased straight away ...... but the increase in interest on savings is delayed or not passed on at all ..... is exactly the same as Fuel companies jacking up the price at the bowser immediately there is a rise in the price of a barrel of oil.... then takes weeks to lower prices at the bowser or not at all when there is a drop in the price of oil. No wonder people suffer from financial anemia when there are so many business parasites in the economy. Nothing new. It’s been going on since ummm forever.

It doesn’t  make it okay… and it’s getting worse than ever, that cba revealed it’s making $1 million dollars profit per minute!
Instead of passing some of those minutes onto customers …. the hogs will take it and will keep taking more and more and more…

So how .. do we as little nobody people…turn the tables on the banks?

Quote:

Nothing new. It’s been going on since ummm forever. Banks don’t make money out of people. They make their REAL money out of sheeple.

Sophia - the answer is in the second paragraph you forgot to post up.

Don’t follow blindly.

YOU must do your due diligence. That means research, homework and it starts with looking at your current financial situation, respective ages (if you’re a couple) and speaking to your accountant/financial advisor.

I’ve stated this before —-> I much prefer to use an accountant. Our accountant is a very successful Jewish guy (a baby boomer with lots of experience too which I like) who is into making money out of property himself. I talk to him a lot (via text usually). He loves my input, my questions and of course my intense love for property investing.

I’ve been able to nurture a great relationship with the guy and he knows I double check his work because I go through everything he does with a fine tooth comb. For me it’s all about money ie numbers ie maths. And of course tricking the other factor ie Time in order to reach financial goals faster without sacrificing safety. So I’m online a lot mainly because I’m researching other real estate platforms and reading other people’s journeys because that is what inspires and challenges me. Over the years I’ve learned a few tricks and tried a few different ways to get the best possible financial result for US!

I’ve mentioned (here and there) what we do. If you have children and they’re over 18 then you should probably ask your accountant about family trusts and property trusts. Your family accountant knows your particular financial situation, your particular ages and your particular short and long term goals.

Cheers

Lisa Jones wrote on Feb 17^th, 2023 at 8:00am:

John Smith wrote on Feb 16th, 2023 at 4:54pm: Lisa Jones wrote on Feb 16th, 2023 at 3:37pm: If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC. Don't you always claim that your imaginary husband is an accountant? You don't trust him? :D :D :D I’ll just leave that 👆 here. It’s important for everyone to see the dumbarse in action. I will give them a chance to make fun of him too.

Here, this will make sure they don't miss it.

John Smith wrote on Feb 17^th, 2023 at 4:34pm:

Lisa Jones wrote on Feb 17th, 2023 at 8:00am: John Smith wrote on Feb 16th, 2023 at 4:54pm: Lisa Jones wrote on Feb 16th, 2023 at 3:37pm: If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC. Don't you always claim that your imaginary husband is an accountant? You don't trust him? :D :D :D I’ll just leave that 👆 here. It’s important for everyone to see the dumbarse in action. I will give them a chance to make fun of him too. Here, this will make sure they don't miss it.

I never missed it the first time you ignorant and uneducated tosspot! My retort is there! ::)

In fact I even acknowledged its futility but gave it some merit by tossing it into the making fun of the dumbarses like Frodo category of OzPol.

And Fido.

Sit Ubu, sit - good dog ;D

Accountants specialise in different areas.

You never ever do your own accounting work. Ever! That’s a well known industry NO NO.

This is why Smith watches paint dry.

Jasin wrote on Feb 17^th, 2023 at 5:10pm:

Accountants specialise in different areas. 1. You never ever do your own accounting work. Ever! That’s a well known industry NO NO. 2. This is why Smith watches paint dry.

1. Very good! Unlike never employed Fido here you have (obviously) had dealings with accountants.

2. 😂🤣😆

My sibling is very high up in the ATO. ;)
But I still don't have them do my Tax, etc.

Jasin wrote on Feb 17^th, 2023 at 5:27pm:

My sibling is very high up in the ATO. ;) But I still don't have them do my Tax, etc.

What? in the backroom having a spliff?

Lisa Jones wrote on Feb 17^th, 2023 at 4:57pm:

John Smith wrote on Feb 17th, 2023 at 4:34pm: Lisa Jones wrote on Feb 17th, 2023 at 8:00am: John Smith wrote on Feb 16th, 2023 at 4:54pm: Lisa Jones wrote on Feb 16th, 2023 at 3:37pm: If you’re anything like me you’d double check the information given by your accountant and/or financial advisor with the information given by ASIC. Don't you always claim that your imaginary husband is an accountant? You don't trust him? :D :D :D I’ll just leave that 👆 here. It’s important for everyone to see the dumbarse in action. I will give them a chance to make fun of him too. Here, this will make sure they don't miss it. I never missed it the first time you ignorant and uneducated tosspot! My retort is there! ::) In fact I even acknowledged its futility but gave it some merit by tossing it into the making fun of the dumbarses like Frodo category of OzPol.

Speaking of dumbarses, can you highlight where I said YOU missed it?  :D :D :D

that's what to much cocaine usage over a prolonged period of time does to you  :D :D :D :D