The value of money has dropped by two thirds in 30 years

[mashman]

National has a Cyprus Plan for us....

http://www.greens.org.nz/press-relea...on-new-zealand

What next fellow citizens......

bwaaaaaaaa ha ha ha ha ha ha ha haaaaaaaaaa.

The Reserve Bank is in the final stages of implementing such a system eh. That was quick given that the media said that the Cyprus thing was a one off and an extraordinary measure. I wonder where the idea for the Reserve Bank to implement such a system came from?

As for what next. Our housing bubble to go pop perhaps and as we're already $50 billion in the red (I love the way they talk about getting back to surplus given that the govts overseas borrowing is $40 billion more than the last govt), we won't be able to borrow our way out of it.

Kind of ironic given that the govt gives tax breaks at the start of a recession and won't put them back to help bailout the economy, yet will borrow billions at the tax payers expense to fund the economic bailout and just to add insult to injury, they'll then use tax payer money, that has already been taxed, to produce a levy for bailing out the banks. And yet people laud the govt and the financial system as the best thing since sliced bread. Fuckin ignorants.

[Ocean1]

Yeah well, with the interest they're paying on money in the Bank, is it enough to cover our risk? Maybe it is better off in an Agee jar.

Yup, don't like the product then don't buy it.

Is the ultimate market control variable, eh?

[puddytat]

Yup, don't like the product then don't buy it.

Is the ultimate market control variable, eh?

Yep, freedom of choice is a wonderful thing. Use it while you can.

[Brian d marge]

I have bought a bicycle

Time to pack up and start smelling a few roses me thinks

Stephen

[jonbuoy]

Its not going to encourage people to save money in banks. It used to be banks would pay you to look after your cash - now we pay them for the privilege and now they have the right to steal a portion to cover their own losses. Better off with vaults and safety deposit boxes. Its not even like they have set the limit to a high level - €100K in savings isn´t a huge amount even for joe public if your about to retire.

[Brian d marge]

Its not going to encourage people to save money in banks. It used to be banks would pay you to look after your cash - now we pay them for the privilege and now they have the right to steal a portion to cover their own losses. Better off with vaults and safety deposit boxes. Its not even like they have set the limit to a high level - €100K in savings isn´t a huge amount even for joe public if your about to retire.

I wouldnt be saving money , I would a commodity that a lot of people need , copper , silver , gold maybe ( chinese love gold )

Copper, is good because you can make that ,,,,, or steal it

Stephen

[Akzle]

National has a Cyprus Plan for us....

http://www.greens.org.nz/press-relea...on-new-zealand


What next fellow citizens......

it was actually done and dusted a while ago under the "open banking resolution" (OBR)
this is nothing new, it's just someone has decided to have a moan about it in public.

I would a commodity that a lot of people need , copper , silver , gold maybe ( chinese love gold )

mingians and a-rabs like gold too, but they got a fuckload more of it.

...i'm going to stockpile the antidote

[mashman]

National has a Cyprus Plan for us....

http://www.greens.org.nz/press-relea...on-new-zealand


What next fellow citizens......

I see that Cyprus have given the EU the grand get fucked. Could be interesting to see what happens.

[Ocean1]

I see that Cyprus have given the EU the grand get fucked. Could be interesting to see what happens.

Either they negotiate a new loan of some $15B with terms they can accept or they default on their debts. The first option would hurt them much less.

But then they probably should have figured that was a likely outcome when they spent someone else's money in the first place.

[mashman]

Either they negotiate a new loan of some $15B with terms they can accept or they default on their debts. The first option would hurt them much less.

But then they probably should have figured that was a likely outcome when they spent someone else's money in the first place.

Quite possibly.

You mean when they gave $4 billion to the EU as their contribution for helping out Greece? No room for sentiment in business though eh .

[Genestho]

National has a Cyprus Plan for us....

http://www.greens.org.nz/press-relea...on-new-zealand


What next fellow citizens......

I'm surprised they're only just bringing that up now, I'm fairly certain the "haircut" legislation was put through last year!! Came across it while researching for something else.
The fact there was barely any media attention on it at the time illustrated how economically illiterate kiwis are, and I don't mean that in a rude way!
I think with this Cyprus situation, the so called fiscal cliff put off until April, the warnings over the housing bubble again, unless there IS an alternative - Kiwi's and anywhere else best be "sitting tight" for a long time yet!!

[Akzle]

Either they negotiate a new loan of some $15B with terms they can accept or they default on their debts. The first option would hurt them much less.

But then they probably should have figured that was a likely outcome when they spent someone else's money in the first place.

so who's "money" do you believe you're holding, mr ocean?

-edit-
i question possessive apostrophe?

[Ocean1]

so who's "money" do you believe you're holding, mr ocean?

-edit-
i question possessive apostrophe?

Mine. You can piss about with definitions of the ownership of the currency itself all you like, the fact remains that the value represented by the money in my posession was earned by me, it belongs to me, I have the right to negotiate exchanges for whatever goods or services I see fit and expect the reserve bank to honour that trade.

Money borrowed by someone in exchange for promises of future reimbursement and whatever other conditions imposed by the lender performs exactly the same, it can be tendered as payment for exactly the same goods or services as the above, indeed there's not much point in borrowing it if you can't. The promise of reimbursement remains, though, dunnit? And we tend to have a dim view of people who don't keep their side of an agreement, innit? They often find it difficult to find people to enter into any sort of agreement with.

[Ocean1]

Quite possibly.

You mean when they gave $4 billion to the EU as their contribution for helping out Greece? No room for sentiment in business though eh .

So keeping a promise of behaviour required of a member of that community automatically relieves them of the responsibility involved in any other promisses they've made?

Excellent, I'll call my bank in the AM, my second mortgage is toast.

[mashman]

So keeping a promise of behaviour required of a member of that community automatically relieves them of the responsibility involved in any other promisses they've made?

Excellent, I'll call my bank in the AM, my second mortgage is toast.

They would have been in a better state if they had have told them to fuck off. Instead, as you say, they fulfilled their promise and then got stabbed in the back for their efforts. I would have thought that giving them a helping hand instead of raping the populous would have been a nicer way to have done it. But this is standard business practice after all.