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Thread ID: 138493	2014-12-08 12:59:00	Is our cash safe	DeSade (984)	PC World Chat

Post ID	Timestamp	Content	User
1389726	2014-12-08 23:01:00	And it doesn't bother you that the government is drafting legislation to effectively steal the contents of our bank accounts? tinfoil hat ?? a bank fails shareholders & those with money in that bank will be required to bail out the bank. Exactly how it should be. The govt IS NOT stealing your money. Show us a non conspiracy/nutcase site that states otherwise. Thats all, no big conspiracy here. From the link above "To the extent that these funds are not required to cover losses as more detailed assessment of the position of the bank is completed, these funds will be released to depositors. " Whats the alternative Govt bailouts of failed banks and other bogus lending institutions/schemes. We all know how that turned out for the taxpayer dont we. Why should those who dont have money in failed banks be expected to bail it out ?	1101 (13337)
1389727	2014-12-08 23:11:00	The strange thing is that when the banks want money to lend to people for their mortgage etc, they just create it out of thin air. Why can't they do that in any of the above situations, instead of stealing our deposits? Time to do a little economics research for you, I think. Banks do NOT create money out of "thin air" for mortgages. Mortgage funds are (supposed to be) a percentage of the deposits held by that bank. The deposits (along with security over the properties that are mortgaged), secure the mortgages. If the inflow of deposits at a bank drop, then so does the money available for lending. The only 'bank' that can create money out of thin air is the Reserve Bank of NZ - and they are strictly regulated.	johcar (6283)
1389728	2014-12-08 23:12:00	We’ll be fine once we become a State of China. :thumbs: A new flag recognising their pecuniary interest in this country is already being arranged. :banana	B.M. (505)
1389729	2014-12-08 23:40:00	tinfoil hat ?? a bank fails shareholders & those with money in that bank will be required to bail out the bank. Exactly how it should be. The govt IS NOT stealing your money. Show us a non conspiracy/nutcase site that states otherwise. Thats all, no big conspiracy here. From the link above " To the extent that these funds are not required to cover losses as more detailed assessment of the position of the bank is completed, these funds will be released to depositors. " Whats the alternative Govt bailouts of failed banks and other bogus lending institutions/schemes. We all know how that turned out for the taxpayer dont we. Why should those who dont have money in failed banks be expected to bail it out ? This is rubbish. A savings account is NOT investing in the damn bank its nothing more than safe storage. In return for this we pay a small fee and allow that cash to be used elsewhere, but the cash ALWAYS remains ours.	DeSade (984)
1389730	2014-12-09 00:12:00	This is rubbish. A savings account is NOT investing in the damn bank its nothing more than safe storage. In return for this we pay a small fee and allow that cash to be used elsewhere, but the cash ALWAYS remains ours. Actually a savings account is an investment in the bank, that's why they PAY you interest! That's why they have terms that regulate how often you can take money out of savings accounts, and have penalties for such.	Cato (6936)
1389731	2014-12-09 00:15:00	Actually a savings account is an investment in the bank, that's why they PAY you interest! That's why they have terms that regulate how often you can take money out of savings accounts, and have penalties for such. No quite Yes they can use your money to make Mortgages etc and they pay you interest for that ability. Because they are using it there are penalties and regulations, but you are not buying stock, you are not investing in the bank your money is still 1/1 and it always remains yours.	DeSade (984)
1389732	2014-12-09 02:10:00	No quite Yes they can use your money to make Mortgages etc and they pay you interest for that ability. Because they are using it there are penalties and regulations, but you are not buying stock, you are not investing in the bank your money is still 1/1 and it always remains yours. It all depends how you want to look at it. I tend to go with Cato's version. Something else for you to worry about, most cash does not physically exist anyway. In the unlikely event that all our electronic money transfer systems became impossible to use for any reason there is no way that there are enough bank notes/coins to replace it should we be required to only pay and be paid in cash.	CliveM (6007)
1389733	2014-12-09 02:34:00	And on the other side of the coin there are more and more companies that won’t accept Cash. (Legal Tender :confused: ). Car Rental companies are an example. ;) I can see things getting real messy if electronic banking ever fails for some reason. :D	B.M. (505)
1389734	2014-12-09 03:31:00	This is rubbish. A savings account is NOT investing in the damn bank its nothing more than safe storage. In return for this we pay a small fee and allow that cash to be used elsewhere, but the cash ALWAYS remains ours. A bank IS NOT safe storage . IT NEVER HAS BEEN your money isnt even in the bank, much of it been loaned out. safe storage...really You agree to let them loan out your money, they agree to pay you for that : interest There is risk involved. The bank fails, you loose some/all of your money. A bank is just another company, they fail , you loose. You really want safe storage, get a govt (or other) guaranteed scheme. Expect to get bugger all interest & not have easy access to your money. Still waiting to see how the govt was stealing our money (apart from the usual taxes etc) :banana	1101 (13337)
1389735	2014-12-09 06:04:00	I didn't say the govt was the thief, the banks are the thieves. The govt is enabling it with the legislation	DeSade (984)
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