RBA Cuts Interest Rates to 1%

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Where do banks obtain their liquid capital to loan out?
 

Squash the Berries!

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Liberal Govt to introduce law on 1-1-20 that bans cash transactions above $10,000. Anything above this amount must be made via bank. Fist step towards negative cash interest rates ensuring people don't keep their cash at home out of banks because we will have to pay banks for the privilege of having a deposit in a bank. Not reported in the press, spread the word.
 

Squash the Berries!

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Now the Federal Coalition is considering a request from big brother to deploy our navy in the Persian Gulf to intimidate Iran and also talking about having big brothers intermediate missiles located here to intimidate China. I not making any of this shit up. The election result might of been if the public knew any of this was coming.
 

The DoggFather

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Now the Federal Coalition is considering a request from big brother to deploy our navy in the Persian Gulf to intimidate Iran and also talking about having big brothers intermediate missiles located here to intimidate China. I not making any of this shit up. The election result might of been if the public knew any of this was coming.
Well Australia is the 53rd state of Murika.
 

Squash the Berries!

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Looks like guaranteed access to US fuel is the payoff for sending our navy to “patrol Persian Gulf”.

Good to see we said no to the missiles this time but the US pressure will continue or perhaps our navy will also start patrolling the South China Sea.
 

Squash the Berries!

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I know I have broken my one post a week vow this week but this is too important not to raise.

First Cash Bans on any transaction over $10,000 (Govt to introduce bill when Parliament returns), then Negative Interest Rates, then Quantitative Easing otherwise known as Helicopter Money and finally Bank Bail Ins (Law passed in 2018 to allow this).

Speak up now as there will be no turning back.

Soviet_Liberal_4 (1).jpg
 

The_Chimpster

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I know I have broken my one post a week vow this week but this is too important not to raise.

First Cash Bans on any transaction over $10,000 (Govt to introduce bill when Parliament returns), then Negative Interest Rates, then Quantitative Easing otherwise known as Helicopter Money and finally Bank Bail Ins (Law passed in 2018 to allow this).

Speak up now as there will be no turning back.

View attachment 11255
He's a much better looker than the real scomo
 

Natboy

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Only need ~10% in capital in assets, the rest is "made up". You don't actually think the bank requires physical cash to loan?
You’ll be waiting a while for that reply Lov Dog :grinning:

Are the interest rates changing much over there?
 

Lov_Dog

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You’ll be waiting a while for that reply Lov Dog :grinning:

Are the interest rates changing much over there?
I was half joking through my rhetorical question, but alas .. it would be interesting to hear a reply.

Thankfully, I have no interest in interest rates, no idea what they are at here. Though I believe very low.
On the other hand, property prices are very high; finite real estate!
 

Natboy

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I was half joking through my rhetorical question, but alas .. it would be interesting to hear a reply.

Thankfully, I have no interest in interest rates, no idea what they are at here. Though I believe very low.
On the other hand, property prices are very high; finite real estate!
Haha definitely. Very true, you can’t sprawl very far. I wish I bought a few places there years ago but I guess I say that about a lot of places haha
 

Alan79

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I have a funny feeling that this will be the pin that bursts the housing bubble. Right now there are a lot of people that will be sitting on every spare dollar they have given the amount of people affected by the bushfires and the economic uncertainty that the Corona Virus is beginning to cause. This will have a flow on effect to small business and will see employers cut jobs to compensate for the loss of profit that comes with people sitting on their money for a rainy day. The banks have already stated that they'll pass on the rate cuts on variable loans, but I would guess that will just mean they only approve loans with higher fixed interest rates. I just don't think our current leadership will have any creative solutions to keep the economy flowing.

I hate to have this pessimistic view on it all, but the feeling that the shit is about to hit the fan on our economy is pretty strong.
 

Alan79

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I'd read about that too. For anyone needing help with this problem, please place all of your unhygienic banknotes in an envelope in your letterbox, pm me your address and I'll come round to collect and dispose of them.
 

Hacky McAxe

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Remember that we live in one of the only countries in the world that is able to wash our bank notes.
 
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