Recent content by Lovey80

i am not sure what you mean by that? Why would caps be meaningless? If there was a true 250k insurance for everyone in a bank then a shed load of people would be insured. As it stands essentially no one is insured between (5-12% of total deposits depending on which bank) how would the banks have...

On a related note. CBA had around $510.73bn in home loans (including investors) according to that Canstar report. That was against $342.99bn in deposits as of Feb 2022 Where can we find what the value of that collateral against those loans is? What would a 20-30% or even a 30-40% decline in home...

Well that’s correct in theory but each ADI has a cap of $20bn AUD. https://www.aph.gov.au/DocumentStore.ashx?id=39adc416-0a7a-4629-99df-127f68f36216&subId=686227 According to Canstar, as of February 2022 the big 4 had the following in deposits in their institutions. CBA: $342.99bn WBC...

And then there’s the bail-in legislation. https://www.aph.gov.au/DocumentStore.ashx?id=39adc416-0a7a-4629-99df-127f68f36216&subId=686227

thanks so much. Don’t know why I couldn’t find this earlier. If what odd job is saying is correct, then there basically is no guarantee in Australia.

If you had a shed load of cash on hand, would now be the right time to be opening bank accounts with multiple institutions and spreading 250k around as many as it took to cover your total cash?

Well I can see why someone would have a substantial amount, up to at least their mortgage debt in a 100% offset account. It means they have that cash available at a moment's notice and what ever they spend it on, they're essentially paying mortgage interest rates. I've been saving for a number...

I am actually really interested to know this. In Aus there is a theoretical 250k federal insurance on deposits. That I think has been somehow watered down by the government to be capped at a certain amount and in reality it means that not all deposits will be insured up to the 250k amount... I...

The way I read it was that she didn't want to offer the same insurance to all banks because she knows she only has 125bn in Insurance and the FDIC has 9.5t in deposits that would need to be covered. But at the same time, she left the door open to any bank of their choosing getting the golden...

I wouldn’t have much of an issue with it if this was indexed to CPI. But think of those joining the workforce today. They’re paying for the same pensions that they will themselves never receive. Plus they’re saving for their own retirement into a scheme that will no doubt see them caught up in...

I think a UBI is a feasible concept only if it was being taken from a large sovereign wealth fund and there were no top-ups in dole payments for able bodied people who refuse to work.

Any bankers out there? Some non bankers may have the answer. The government savings guarantee that came in post GFC. 200k per person per institution. Does that mean that someone with say 800k in savings should split their savings up among 4 different banks so that each of the 200k is...

How is 1200 deaths from a virus where pretty much no major precautions were taken even remotely relevant to Corona virus that has killed nearly 4% of the people it has infected? From the data that you posted, 2017 was an exceptionally bad flu year with 251,142 confirmed infections and 1255...

Do you regularly quote completely irrelevant facts to support your bias? Your own links suggesting that maybe 10% of the worlds population has been in contact or even infected by it. That’s 760million people. So why would you even bother quoting the worlds population? Are you suggesting that the...

Dude you can try to run that narrative all you like because he’s recovered but the fact is he was in a serious condition. No doctor is going to give a patient Dexamethasone and an experimental anti-body cocktail that hasn’t gone through the full approval process if he was going to shrug it off...