Depositors to bail out NZ banks?

[mashman]

Well, that's when Back to the Future part 3 was set but the original was released in 1985 so I'll give ya that one.

I'm off to bed so have a good weekend. Motorbiking and beer brewing for you?

how gracious of you.

Sweet dreams dear. Might try getting out for an hour or two, although the kiddies need attention and we're visiting folk over t weekend. But bought a Euro Lager mix today and will try finding that pipe in the fridge over the weekend. Then get the bottled for the fridge and try not to fuck things up too badly. Enjoy the weekend mate.

[Akzle]

how gracious of you.

Sweet dreams dear. Might try getting out for an hour or two, although the kiddies need attention and we're visiting folk over t weekend. But bought a Euro Lager mix today and will try finding that pipe in the fridge over the weekend. Then get the bottled for the fridge and try not to fuck things up too badly. Enjoy the weekend mate.

if you're drilling a fridge... i believe it's cornflour and water that you spread on the outside, it will chill down on top of the pipes, so's you can see where they are...

[mashman]

if you're drilling a fridge... i believe it's cornflour and water that you spread on the outside, it will chill down on top of the pipes, so's you can see where they are...

Tis an F/F with drinks dispenser that I'm trying to tap in to. I've seen the pipe in the door before so with any luck there'll be a little panel removing and no drilling.

[husaberg]

So, in the wake of the Cyprus debacle, our esteemed leader reckons that it's a good idea to take depositor's money if the banks stuff up?

Shouldn’t the banks be looking at a deposit insurance scheme of some sort? You’d think so, wouldn’t you?

Remember the so-called “Light Bulb” and “Shower Heads” affairs, in 2008, where National slammed the then-Labour Government as engaging in “Nanny State” politics? National’s Nick Smith said,

“People should be free to use as much water as they like when showering, provided they don’t expect others to pay for their profligacy. User-pays is a far better approach than nanny state.”

So using eco lightbulbs and smaller shower flows, to conserve electricity and water is nasty “Nanny Statism”.


But going into people’s savings accounts; stealing their money; and handing it over to banks – is all hunky dory?

Well, I’m glad that’s settled.


Such a nice man.........

The point i haven't seen in the thread is the monies "invested" in the targeted Cyprus banks is there mostly for dodgy European money laundering purposes.
it could well be there but i can't be arsed looking anyway.......
Key bailed out all his mates with their collapsed investments a couple of years ago at the tax payers expense.
I said then well if they could afford to invest it and did so because the interest rates were substantially higher than banks i say tuff titties.
It's the risk they took.

National now will sell out NZ with a deal to give almost free power again to Rio Tinto.
This is something they have had for 30 years as part of the original smelter deal it went to a "more market rate" about a year ago.....The poor hard done by multi national is now crying poverty National will bow down to them. and sell out NZ again.

Otherwise the asset sales will be under threat.
Without assets sales us Nsw Zealander's would miss out on the opportunity to buy a share's in something we already er....own.

don't get me wrong labour was nearly as bad the carbon tax no one mentions its egfect on Solid energy.

Add in the extra 4 million tons of coal mined with $26 dollars a ton going direct to the government. 9Yes thats over 100 million that is never mentioned) as a carbon tax Solid Energy was making good money.
If you look into solid energy's book you will see there loss was basically a accounting loss as the bean counters had lowered the value on the coal reserves.
The net income was actually quite good considering how much money was being squandered and rhe fact they stopped production at spring creek and huntley

[jonbuoy]

Some of the money is from tax avoidance. Some is locals or people who retired to Cyprus money/savings.

[blue rider]

no further comment to add

http://www.dailykos.com/story/2013/0...an-we-imagined

[mashman]

no further comment to add

http://www.dailykos.com/story/2013/0...an-we-imagined

... who knows what dodgy deeds are being done behind the closed doors of the jewish/jesuit/illuminati/annanuki/rothschild/church/masonic/nazis from the moon "orders". Fortunately it'll never happen here.

[husaberg]

... who knows what dodgy deeds are being done behind the closed doors of the jewish/jesuit/illuminati/annanuki/rothschild/church/masonic/nazis from the moon "orders". Fortunately it'll never happen here.

Too right as nearly all our banks are Aussie owned lol...........
I arn't buying the sob story in the link sorry.
If they hadn't have been bailed out, the banks and the whole country would have been bankrupt. Remember the EU a lot of didn't want Cyprus and Greece....
plus others Turkey i think? maybe no income taxes from foreign investment wasn't the best idea after-all.....

[mashman]

Too right as nearly all our banks are Aussie owned lol...........
I arn't buying the sob story in the link sorry.
If they hadn't have been bailed out, the banks and the whole country would have been bankrupt. Remember the EU a lot of didn't want Cyprus and Greece....
plus others Turkey i think? maybe no income taxes from foreign investment wasn't the best idea after-all.....

True... good job noone in NZ has any money in a foreign bank eh

Didn't hurt Iceland really did it?

[mashman]

“I wouldn’t be surprised if someone took a gun and went after whoever is responsible for all this,” said Marios Georgiou, a 45-year-old civil servant who stands to lose 40 to 50 per cent of his savings, held in the two banks targeted in the bail-out, Laiki and Bank of Cyprus.

“I ask you, is this fair? Is this legal? It cannot be. People can’t believe it. We have been in a struggle with the Turks for 40 years, but it took the EU just one day to come here and take all our money.”

Good job NZer's are used to gettun a financial humpun from all n sundry... they shoulda tried it here first.

[jonbuoy]

“I wouldn’t be surprised if someone took a gun and went after whoever is responsible for all this,” said Marios Georgiou, a 45-year-old civil servant who stands to lose 40 to 50 per cent of his savings, held in the two banks targeted in the bail-out, Laiki and Bank of Cyprus.

“I ask you, is this fair? Is this legal? It cannot be. People can’t believe it. We have been in a struggle with the Turks for 40 years, but it took the EU just one day to come here and take all our money.”

Good job NZer's are used to gettun a financial humpun from all n sundry... they shoulda tried it here first.

It's a bit tiresome hearing people blaming the EU/Germany for lending money and then having the gall to ask for repayments to be made on it. Fault lies with their own governments. You can blame the EU for letting the Southern States join in the first place. They just weren't ready to get a good credit rating.

[Winston001]

Yeah, it seems that Cyprus had pretty lax banking rules taking in money from all comers. Apparently the amount of money invested in Cypriot banks is 10 times the size of the whole Cypriot economy. That money sure as hell didn't come from under mum and dad's mattresses.

The Russian mafia saw this as a jolly good spot to enter the Western banking system (EU). I don't blame the Germans etc for not wanting to bail them out.

You can't help but feel sorry for the ordinary Cypriot though - it isn't their fault and they probably have sod all savings anyway. However the proposal so far as I can understand it is that a 10% clip is far far better than a 100% clip if their banks fail. Not pleasant but not the end of ordinary life either.

[mashman]

It's a bit tiresome hearing people blaming the EU/Germany for lending money and then having the gall to ask for repayments to be made on it. Fault lies with their own governments. You can blame the EU for letting the Southern States join in the first place. They just weren't ready to get a good credit rating.

As pointed out in another thread. Tis only the level of debt that separates country's. Trading in debt is only a smart move as long as when the music stops you find a chair. It'll be interesting to see which of our councils end up carrying the baby with the LGFA now in full swing. I guess it will be their own fault?

[R650R]

Hold onto your wallets...we all know what happens when they have a 'drill' these days...

http://www.dailymail.co.uk/news/arti...-atlantic.html

[mashman]

Hold onto your wallets...we all know what happens when they have a 'drill' these days...

http://www.dailymail.co.uk/news/arti...-atlantic.html

The funny thing is, is that it isn't that hard to let a big bank go. Create the money and instantly write it off by bailing out the customer and employee directly. No need for any debt.