Bail in law in australia

S

Sandgroper

Member
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.
 
if MR FLAME got his $$$ bailed in, for sure we have a Holocaust :) or rather hollow bank walls.
 
You're losing your superannuation on panicked markets because after 2008 the authorities, under orders from the banks, protected the gamblers, not the people. The banks and their political lackeys have since doubled down by cooking up the policy of "bail-in", to permanently force the people to paywith their savings and with their livesfor the gambling losses of the banks. Unless the people force governments to make amends quick-smart and enact a Glass-Steagall division of the financial systemwhich walls off and protects everyday banking that services the real economy, from the manic gambling of investment banking which is currently in meltdownwe all stand to lose everything.

http://cecaust.com.au/releases/2016_01_21_Casino_Sinking.html
Click to expand...

Where is the actual evidence that bail-in laws are being "cooked up"?
 
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...
 
Results not typical said:
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...
Click to expand...
Yep. I got one. Others got them as described in other threads.
 
Daily Reckoning has tackled this today:

The recent market jitters and the uptick in gold have caused many of my readers to ask the same question, 'How safe is our money in the bank?'

Everyone acknowledges the government's $250,000 deposit guarantee is in place.

However, there are fears the government may not be able to honour its promise. Or, if it does, in what form will the guarantee be invoked?

As you'll see in this think-tank which we recently recorded, these fears are not without foundation.

The deposit guarantee (as the legislation currently stands) is limited to $20 billion per institution. The big four each have deposits in the hundreds of billions of dollars. Not hard to do the maths. There's no way $20 billion is anywhere near enough to protect all deposits.

That is, of course, if a massive financial crisis puts those institutions under stress.

Could that happen?

As you'll see here, yes it could.

I show you why it could happen. What it might look like. And, crucially, several tactics you can employ now to ring-fence your savings.

For instance, did you know that, ironically, the smaller credit unions, banks and building societies with deposit bases in the millions or low billions of dollars would be totally covered by the guarantee? That runs counter to the perception of them as much weaker institutions.

So spreading your money around large, medium and small approved deposit institutions is one tactic. A form of deposit guarantee diversification. However, institution diversification is of no consequence if there is a blanket freeze on withdrawals.

www.portphillippublishing.com.au
Click to expand...

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
 
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