# Australia Plans Cyprus-Style "Bail-In" Of Banks In 2013-14 Budget



## Lisa Edwards (13 July 2013)

Hi all, 

First post to share some news that I think should be discussed. Looking forward to being apart this forum also.



> Just like the Canadian government did in March, and just as Europe, the USA and the UK have now done, the Australian government too is now beginning to make good on its 2010 G20 commitment to implement the Goldman Sachs-chaired, internationalist Financial Stability Board’s new regime for bailing out the banks using depositors’ money.




Please note that we are the "depositors" our personal savings accounts.

Full link here : 
http://barnabyisright.com/2013/07/10/australia-plans-cyprus-style-bail-in-of-banks-in-2013-14-budget/

Kind Regards

Lisa Edwards
National Sales Manager
Australian Bolts & Fasteners


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## drsmith (13 July 2013)

If the site is not endorsed by Barnaby Joyce, why does it feature his name in big bold type ?


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## Lisa Edwards (13 July 2013)

drsmith said:


> If the site is not endorsed by Barnaby Joyce, why does it feature his name in big bold type ?




Probably to get a reaction, your right But why is he there? Anyway here is a more accurate breakdown.

Why we should remain sceptical about the rise of the banking bail-in
http://www.guardian.co.uk/commentisfree/2013/jun/28/sceptical-banking-bail-in

Kind Regards

Lisa Edwards
National Sales Manager
Australian Bolts & Fasteners


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## Aussiejeff (14 July 2013)

drsmith said:


> If the site is not endorsed by Barnaby Joyce, why does it feature his name in big bold type ?




Who cares? If the content is interesting enough, regardless of the attached hype or spin - it deserves airing....Labor, Liberal, Green...meh - I'm not so one-eyed to dismiss info based solely on party affiliation.

So, I found the above info interesting and somewhat disturbing, to say the least. Haven't heard much in the media about this. Thanks for raising it OP.


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## DB008 (14 July 2013)

Maybe this thread needs to be merged into the 'conspiracy thread' ?

Only way I can see a - bail in/out - is with a _massive_ property crash.


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## satanoperca (14 July 2013)

DB008 said:


> Maybe this thread needs to be merged into the 'conspiracy thread' ?
> 
> Only way I can see a - bail in/out - is with a _massive_ property crash.




Doesn't Ireland come to mind. 

Even if they are considering such actions, it is very very scary for savers.


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## DB008 (14 July 2013)

satanoperca said:


> Doesn't Ireland come to mind.
> 
> Even if they are considering such actions, it is very very scary for savers.




Yes, Ireland and Spain do come to mind.

However, there were more vacant properties in Spain than in the USA during the height of their building spree.

If China keeps slowing down, we will have a problem.


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## drsmith (14 July 2013)

Aussiejeff said:


> Who cares? If the content is interesting enough, regardless of the attached hype or spin - it deserves airing....Labor, Liberal, Green...meh - I'm not so one-eyed to dismiss info based solely on party affiliation.
> 
> So, I found the above info interesting and somewhat disturbing, to say the least. Haven't heard much in the media about this. Thanks for raising it OP.



I haven't suggested it doesn't deserve airing, but it puts me off where I see it associated with such hype.

It suggests the author is trying to sell his message by means beyond the merit of the underlying argument.


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## sydboy007 (14 July 2013)

makes me glad my savings are generally in an offset account in my home loan.  net wise i don't pay any interest and get fee free transaction account with it.

Might have to do some digging around to see exactly how an offset account would be treated if things go to poo, though if things started to look dicey I'd prob pay out the mortgage and be done with it.


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## So_Cynical (14 July 2013)

Bananas Joyce supporters spruiking fear....how refreshing


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## Calliope (14 July 2013)

Lisa Edwards said:


> Hi all
> 
> Lisa Edwards
> National Sales Manager
> Australian Bolts & Fasteners




Do you have any of these coins Lisa?


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## Lisa Edwards (14 July 2013)

Calliope said:


> Do you have any of these coins Lisa?




No, nice coins. How old are they? and how did you score them? Nice photos.....

Lisa Edwards
National Sales Manager
Australian Bolts & Fasteners


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## wayneL (28 October 2020)

Senator Roberts bail-in amendment comes up again in parliament on November 30th.

Here is some discussion on the matter, on the state of play.

If you have a few shekels in the bank this is a really really really important issue.


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## aus_trader (29 October 2020)

Yeah, got a few bundles in the banks 

Just wandering if there is a way to keep it in a liquid form of some sorts but avoid being chopped off at the neck (hair cut seems too humane to depositors). Will any unused cash in your trading account be safe ? 

Worst case I am thinking about buying some Govt bonds or higher quality Corp bonds with fair bit of the money in the bank to reduce this bank deposit risk we are talking about. What do others think ? Not sure if there is any others concerned or @wayneL is the only person other than me with some coin in the bank.

Not keen on buying Gold and risk being stolen or pay money for people to guard it and even then run the risk of Govt theft via confiscation as has happened in the past.


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## againsthegrain (29 October 2020)

aus_trader said:


> Yeah, got a few bundles in the banks
> 
> Just wandering if there is a way to keep it in a liquid form of some sorts but avoid being chopped off at the neck (hair cut seems too humane to depositors). Will any unused cash in your trading account be safe ?
> 
> ...




I have been buying up gold bullion,  as you already said your not interested just wanted to add it as a general comment so people can see what others are doing.  Planning on acquiring 50-100k by end of this year. 

p.s its only at risk of being stolen if somebody knows about it or you leave it in general view (my opinion)


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## aus_trader (30 October 2020)

againsthegrain said:


> I have been buying up gold bullion,  as you already said your not interested just wanted to add it as a general comment so people can see what others are doing.  Planning on acquiring 50-100k by end of this year.
> 
> p.s its only at risk of being stolen if somebody knows about it or you leave it in general view (my opinion)



Good to get people to think. I do like Gold and have been for a long time, I just don't have the peace of mind of holding physical, I do have some Gold ETF's that have been bought a while back giving me exposure to Gold price.


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## wayneL (30 October 2020)

There is the crypto avenue as well, and for those concerned about volatility, there are "stable coins". 

I don't know much about the stable coins at this stage, but trying to learn.


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## aus_trader (30 October 2020)

wayneL said:


> There is the crypto avenue as well, and for those concerned about volatility, there are "stable coins".
> 
> I don't know much about the stable coins at this stage, but trying to learn.



Yes, but one has to be careful buying any old coin as there are thousands of funny-money cryptocurrency coins created and are being conjured up every day. Lot of them are of no actual value or a future, just taking suckers and their money for a ride like a lot of the speculative IPOs that appear on the stock markets.

But I do believe the mainstream Crypto that are proven and have stood the test of time such as Bitcoin will play a part in diversifying people from keeping all their eggs in the bank deposits. I have held this view for years now and even put my money where my mouth is by buying a spec stock on the ASX that has exposure to Bitcoin via directly holding a large sum of Bitcoin in the company. It also has other blockchain based products being researched on. In fact the biggest multi-banger  🌭 in the *Speculative Stock Portfolio *has been via buying  Digitalx Ltd (asx: DCC) when it got swept up by Bitcoin Mania 1.0 which took Bitcoin past US$20,000+. Not going to mention exact % gains as the initial position was sold in two multi-bag tranches and all can be verified including BUY and SELL dates in that thread. So if and when Bitcoin Mania 2.0 is on the cards which surpasses it's All-Time-High's I think I may look to play it again via buying asx listed DCC.


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## wayneL (8 March 2022)

Bail in - redux.

Important sh¹t if you have a few shekels in the bank.


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