Discusting the Banks are laying off

[Jonnymac]

Yes the banks make "huge" profits but on what turnover at what margin? You might be surprised at the margins and the amount of coin they turnover. You have to balance it up with how much money they actually have out their at risk.
Now to all you shareholders yes you and me and just about anyone who has a superannuation account, these bank profits are keeping your losses below double digits.

If you want to screw the banks move your accounts to the independents, sure the rates are not as good, the access to your money is not as good and the facilities they offer are less, the security they offer is less but you pay for what you get.
These banks are their to make money with your money, simple as that. You would do the same, if you don't like it move your money elsewhere. The security we have in our banking system means that unlike in Europe, America you can actually go to the bank in the middle of a GFC and get your coin out. Some smaller independents froze accounts.

Be careful about what you wish for

No money out at their risk it's all guaranteed by our government which means by us and our taxes, so they are making huge money from us and guaranteed by us.......... Could there be a better business plan...¿???¿

[Six Addict]

plenty of credit unions out there boys and girls,

[Naked Twin]

r

No money out at their risk it's all guaranteed by our government which means by us and our taxes, so they are making huge money from us and guaranteed by us.......... Could there be a better business plan...¿???¿[/quote]

Only partially guaranteed. Bank deposits were guaranteed not their loan books.

[yzr750]

r

No money out at their risk it's all guaranteed by our government which means by us and our taxes, so they are making huge money from us and guaranteed by us.......... Could there be a better business plan...¿???¿

Only partially guaranteed. Bank deposits were guaranteed not their loan books.[/quote]

Problem being it is fractional reserve banking we are talking about here, the money they loan you does not exist, they are charging interest on money they have conjured from thin air, they are risking nothing.
The thing that allows them to do this is 'our' government.

[yzr750]

plenty of credit unions out there boys and girls,

Fully agree there, I have my personal accounts with a building society, trouble is they don't (can't?) offer merchant services for business.

[yzr750]

I think IQ's have dropped sharply in the current totalitarian society we find ourselves in.
We can "create" employment in a couple of industries immediatley and take back the power from the banks who make obscene profits AT OUR EXPENSE......so simple to do....
don't buy the BS the elite push and dismiss you with that its dangerous, they're are happy to send armed guards to PICK UP cash from Casino's....
every Man and every Woman....should INSIST on being PAID IN CASH AGAIN!!!!!!! We were paid in cash when I started working
....you know, back when the banks had NO FEES and gave you a free piggy bank to entice you in.
Charlie Chaplain gave me inspiration

http://www.youtube.com/watch?v=gmK4Y8r1 ... re=related

The pollies would never allow people to be paid in cash en masse, as it would bring down the ponzi scheme that is the banking system.

[Bogan]

Well a thread about it on KSRC I'm sure will be read by all and they system will be changed to suit us.

Think positive! Yeah!!

Vote 1 Wattie!!!

[Cath]

It's funny reading such an animated screed telling me to INSIST I get my pay IN CASH!!!!

Why would I want to do that? I don't get it - how exactly will that benefit me at all? Seriously, if you're trying to persuade someone to do something, you gotta appeal to their emotions or their pocketbook. Not seeing the pocketbook advantage, and the only emotion at the moment is mild befuddlement and amusement

[z900/zx9]

The government has been getting rid of cash for there own purposes,Tracking what u get and what u spend is much easier if cash is not in the equation,It makes things that much easier for the tax man.If your accountant types in your taxfile number it takes u to a site that has it all laid out as to how much interest u have made on your money from all banks and investments.

[fireyrob]

plenty of credit unions out there boys and girls,

Just been through all of this having only just sorted out a f off size mortgage. Funnily enough after having used an employee credit union for the past 10 years and also could have swapped to a current employer credit union they couldnt even get within 30 basis points of one of the big 4 who Im now with. Even the last rise Im still alot better off. Mind you its not just the interest rate its also the comparison of fee's of which now I have none ongoing whatsoever plus a 55 day interest free credit card (once again no fee's at all). Yes I bargained hard using a mortgage broker. Even he was surprised how far we pushed them

When I first started with a credit union in 2001 there were minimal fees. Now the same group started charging fee's here and there

If my current arrangement changes I have no exit fee so could swap in a few days but I cant really see why I should pay a higher interest rate or added fee's just to say Im with a credit union? They arent as competitive and the system does suck. Bring in more competition! ( Arent some Japanese banks thinking of doing this?)

[smithy5]

I've been with ANZ for over thirty years, and when they went outside the Reserve Bank the other day with an increase in rates, I called them to let them know what I thought and to tell them i'm looking at switching. Well they are now bending over backwards, so i'll give them a hearing and see what's on offer.

The Big 4 are colluding whether ASIC want to acknowledge it or not... From what i've seen on the net from the others, Bankwest are looking pretty good

[hoffy]

Seiko why the fuck are you worried about people getting laid off in banks...

Gillard/Brown said there will be *HEAPS* of green jobs just around the corner !!

you know, save the trees n all dat shit !

[seiko1]

Yes the banks make "huge" profits but on what turnover at what margin? You might be surprised at the margins and the amount of coin they turnover. You have to balance it up with how much money they actually have out their at risk.
Now to all you shareholders yes you and me and just about anyone who has a superannuation account, these bank profits are keeping your losses below double digits.

If you want to screw the banks move your accounts to the independents, sure the rates are not as good, the access to your money is not as good and the facilities they offer are less, the security they offer is less but you pay for what you get.
These banks are their to make money with your money, simple as that. You would do the same, if you don't like it move your money elsewhere. The security we have in our banking system means that unlike in Europe, America you can actually go to the bank in the middle of a GFC and get your coin out. Some smaller independents froze accounts.

Be careful about what you wish for

Surely you Jest!
They have NO risk at all, if they get into trouble the Goverment guaranteed to bail them out FFS
Profits of 6 billion dollars is a disgrace in any language, especially when you consider how many families are being thrown into the street because of mortgage stress
and the even more that are on the edge of losing all because the banks are getting even greedier, laying off staff and increasing interest rates.
Add to that the Power, Water and Gas going through the roof for no legitimate reason leads people like us to tell people like you to "get stuffed"

[6maniac]

@ seiko - hey there, language nazi ... amend your thread title ..
" disgusting "

[dickfaber]

if you dont like the banks, dont use them, simple


but it becomes hard to ebay, eftpos, and invest (like your superannuation) without banks

and paying for fuel in cash means sooner or later you'll need a wheelbarrow to carry the required cash

or do we go further back to a barter economy?

so paying for items relies on an agreement of the seller and the buyer; and if they cant agree? are you sure?

if thats the new paradigm, i do not accept your alarmist bleatings and chest beating populism in exchange for the time for me to read this over polished tripe.

if you think you can do better in the circle of international finance, go ahead. i'm looking forward to your attempt.