CEC report available online claim proof off bail in law now in effect among many other finance topics ..sorry if already posted .. I enjoyed there work .cheers
2016 January 22nd, 2016 This week's CEC Report covers: 1. Oil shock can bring down world economy 2. What will 2016 bring: Glass-Steagall or martial law? January 15th, 2016 This week's CEC Report covers: 1. Bankers panic in crash of 2016keep calm and enact Glass-Steagall 2. Without Glass-Steagall, Australian bank deposits will be bailed in January 8th, 2016 This week's CEC Report covers: 1. 2016 opens with financial bang 2. Depositor bail-in takes effect across EU, well underway in Australia January 1st, 2016 This week's CEC Report covers: SPECIAL PRESENTATION by Elisa Barwick titled "Revive the Treaty of Westphalia to stop World War III", recorded in October 2012. http://cecaust.com.au/main.asp?sub=media&id=Aus_Weekly_Report.html It has a podcast.
The last I heard was that the govt had drafted the legislation, but then put it aside due to the bad publicity that was brewing, mostly from the CEC. The new laws are just sitting there waiting for a time when they're needed. This was only verbal info so I can't point to sources.
Didn't you guys get letters from your banks last year telling you that from now on you cannot access any funds from your term deposits without 30 days notice even if you are willing to forgo the interest? That sounds like a part of a bail in law package to me...
Daily Reckoning has tackled this today: SO Keep debt with the Big 4 and deposits with the Credit Unions etc? O.C?
Deposit Guarantee! I very much doubt you will get cash on the day. Probably a OZ Treasury Bond (100 year, 0.01 % interest) for the balance of your account and suck it up! Keep in mind that the dollars you put into a bank account here becomes the BANKS, it is no longer "your money Ralph". NEVER trust the Government, they are the BIGGEST thieves in Australia. JMNHO OC PS, When The Commercial Bank of Australia Ltd went broke in 1893, the account balances were converted to 2% Preference shares. The market price never justified selling, so they were still in existence in 1983 when the Bank of NSW had it's way with the fair maiden.
@Rnt, That 30 days notice is to stop a "RUN" developing. a 'run' is DEATH to a bank! You could well see such a thing with 'at call' funds too soon. Nothing over $5000 without 30 days notice, or worse! OC
SENATE PASSES ‘BAIL IN’ LAW – HOW SAFE IS YOUR CASH NOW? Posted | 20/02/2018 / Views | 72057 https://www.ainsliebullion.com.au/g...ved-tech-gimmick/tabid/88/a/1722/default.aspx