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originally posted by: hopenotfeariswhatweneed
a reply to: myselfaswell
the government must really need money badly......labor may have gotten the ball rolling but Abbott sure cashed in on it....what a bunch of scumbags,these politicians are the lowest of the low,drug dealers and prostitutes have more integrity and at least provide a service
but short of the bank actually going down the pan (usually prevented by a gov bailout using yet more taxed incomes/spending
As we have seen in The Bank Deposits Guarantee Is No Guarantee At All, Australia’s so-called “guarantee” for deposits up to $250,000 only provides for up to $20 billion in Federal (borrowed) money per bank — less than 1/10th of the amount that each of the Big Four has in (electronic) obligations to bank account depositors (ie, “creditors”). Or should I say, it “only promises to provide for up to $20 billion…”. There is no money actually set aside to “guarantee” any depositors. As confirmed in the APRA document, page 15: Fully guaranteed retail deposits The revised Basel III liquidity framework includes an additional retail deposit category for deposits that are fully insured under a pre-funded deposit insurance scheme. The deposit insurance scheme in Australia, the Financial Claims Scheme (FCS), is not pre-funded and, as such, this category is not relevant for domestic deposits.
originally posted by: bigvig316
This is why I keep my cash in a mason jar buried in the back yard. You can't trust the bank for keeping you money. I have an account to show I have one. I keep my cash on me. I have no credit cards or loans. I deal in strait cash transactions.
originally posted by: JJRichey
What, the bank couldn't send a letter?
originally posted by: AlphaHawk
a reply to: OpinionatedB
Therefore a person who leaves 12,000 dollars in their bank account without touching it, doesn't need to have Alzheimer's - they need a little common sense to know that even if they are not adding money to it
Yup, a little common sense, as in keep in contact with the bank once every 3 years, even a 5c deposit does it.