Gee its tough

> 10 years ago
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Mr float
Mr float
NSW
3452 posts
NSW, 3452 posts
4 Nov 2011 12:18am
collectively the big 4 banks only managed to eek out of their customers a meagre 24 billion last year in profit .the knives our out for bankers in the next year apparently, poorbuggers
Underoath
Underoath
QLD
2434 posts
QLD, 2434 posts
3 Nov 2011 11:31pm
Hey champ, rather than look at one nominal number look at total revenue against equity (your super)or ROE

I haven't looked at the figures, im guessing its somewhere around 6 to 8%.

Would you prefer an unstable banking system? such as places like the States, Europe and Iceland?

Dont forget the banks pay tax on profits therefore the government earns a $$ too.....

Shareholders win
Goverment win
Employees win

why complain?

Perhaps take a loan from an American bank and take your chances with the carry trade.

(Please dont get my comments confused with my opinion about with Fat cats get paid too much, thats a totally different story)
Chris6791
Chris6791
WA
3271 posts
WA, 3271 posts
3 Nov 2011 11:25pm
All the big 4 have overseas trading arms, how much of that profit is generated overseas? not all of it is from your mortgage and credcit cards.
japie
japie
NSW
7146 posts
NSW, 7146 posts
7 Nov 2011 9:25pm
Chris6791 said...

All the big 4 have overseas trading arms, how much of that profit is generated overseas? not all of it is from your mortgage and credcit cards.


The profit is all generated from usury.
Mark _australia
Mark _australia
WA
23684 posts
WA, 23684 posts
7 Nov 2011 6:31pm
The only industry that just puts up their fees arbitrarily and we have to use them. Tried being paid in cash lately? (was only 20 years ago that many people were, and 30 years ago everyone was).

How about the fact that ATM's were supposed to be free, now it is $2 every withdrawal I make (only one ATM in town).

How about when they sack staff citing costs...... then post an increased profit that year.

That last one is bl00dy disgusting.

patsken
patsken
WA
717 posts
WA, 717 posts
7 Nov 2011 6:48pm
Lucky I use an industry credit union then hey !!!

Lower fees and a generally lower interest rates on loans due to less "bells and whistles" type products I s'pose.......works for me
cisco
cisco
QLD
12365 posts
QLD, 12365 posts
8 Nov 2011 12:59am
japie said...
The profit is all generated from usury.


Combined with their mandate to create money out of thin air.

petermac33
petermac33
WA
6415 posts
WA, 6415 posts
8 Nov 2011 1:41am
Money to the owners of the banks is a irrelevancy,as they can print at will.

More about a transference of real wealth [house + land] away from us,to the movers and shakers who own nearly everything.

George Carlin 'they want obedient workers' or better put obedient believers.

They move industry from the west to the east,taking jobs with it.

You don't have the income to pay the mortgage, they take your house.

Same with the stockmarket,you lose retirement fund when the plunge protection team artificially escaltes it,then sells off,crashing it.




japie
japie
NSW
7146 posts
NSW, 7146 posts
8 Nov 2011 10:16am
cisco said...

japie said...
The profit is all generated from usury.


Combined with their mandate to create money out of thin air.




Money for centuries was real. With the removal of the gold standard it became a concept. The money we use now is really only an idea, or tokens, similar to pieces in a board game. Only the board game is owned and controlled by the "elite" who use it to give us our reality.

Modern history of money is quite fascinating. When the United States became a republic the memory of European repression, both religious and financial, was still fresh for the founding fathers. So they drew up the Constitution which gave it's citizens freedom that was unique. It's piece de resistance was the issuance of money by the elected government.

This was quite alarming for the financial powers in Europe and was echoed by an article in the London Times in 1865 :

If that mischievous financial policy which had its origin in the North American Republic during the late war in that country, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off its debts and be without debt. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe.



Since then thngs have obviously changed a tad and the constitution that guaranteed unprecedented freedom is in tatters and the freedom is a ghost of it's former self. They have a central bank, the Federal Reserve, since 1913 and Americans are now enslaved by debt. Their dollar, originally a silver coin based on the Spanish dollar, now a token issued on a concept, is worth one hundred times less just short of one hundred years later.

Any wonder informed people are disillusioned and pissed off. When you get your head around the fact that our democracy is controlled by our "economy", that delightful City of London board game we play for forty plus hours a week, designed and foisted on us by descendants of the same folk who fought so hard and so dirty to take control of the United States.

Yeah, our job got rained off today so I don't get to roll a double six and collect a flat screen tv. I do get to use the NE that I am promised and you know what, I could not give a toss because I have no debt, don't watch telly and have a myriad of exciting things to do which tokens cannot buy!
evlPanda
evlPanda
NSW
9207 posts
NSW, 9207 posts
8 Nov 2011 3:10pm
japie said...

Money for centuries was real. With the removal of the gold standard it became a concept. The money we use now is really only an idea, or tokens, similar to pieces in a board game. Only the board game is owned and controlled by the "elite" who use it to give us our reality.



PM me for my account details then Japie. I'll gladly take all of your imaginary money.
evlPanda
evlPanda
NSW
9207 posts
NSW, 9207 posts
8 Nov 2011 3:45pm
...and if being "elite" means growing up in a housing estate in the Bronx before becoming CEO of Goldman Sachs then we all have nothing to worry about.

I smell sour grapes.
SomeOtherGuy
SomeOtherGuy
NSW
807 posts
NSW, 807 posts
8 Nov 2011 4:12pm
japie said...
Money for centuries was real. With the removal of the gold standard it became a concept. The money we use now is really only an idea, or tokens, similar to pieces in a board game.


You just can't get past even the first line can you japie? Gold was never any more real than those tokens you're talking about. Which is why it was dropped. But you'll never understand that...
japie
japie
NSW
7146 posts
NSW, 7146 posts
8 Nov 2011 4:57pm
evlPanda said...

...and if being "elite" means growing up in a housing estate in the Bronx before becoming CEO of Goldman Sachs then we all have nothing to worry about.

I smell sour grapes.


Sorry mate, opened an account at ABC Bullion and changed all of may spare tokens for bullion. No you cannot have that. No sour grapes either, if anything the opposite. Understanding the situation brings a good deal of satisfaction and, as I said I am not anchored by property or shackled by debt

Soggy, the first bankers were guys who looked after peoples valuables. They gave receipts for it and discovered that they could lend out more than they had in storage providing every body did not want to withdraw their gold at the same time. It got kind of complicated from there on but if you persevere the penny will drop.
evlPanda
evlPanda
NSW
9207 posts
NSW, 9207 posts
8 Nov 2011 6:22pm
^ Soggy
FlySurfer
FlySurfer
NSW
4460 posts
NSW, 4460 posts
8 Nov 2011 7:47pm
SomeOtherGuy said...
Gold was never any more real than those tokens you're talking about. Which is why it was dropped. But you'll never understand that...



What has value? Something rare/unique/hard to replicate/ finite?
Print nice pictures on a piece of plastic... seem pretty straight forward... hell as a teenager I used to scan... hmmm we'll leave it at that... in South America I changed A$ for some doggy US$ at a bank!

Gold can be found in the ground if you look real hard and long... but it's hard work.

I think I'd go for gold.

If was dropped because they couldn't/can't add a 0 to gold to make x10 more.

Japie: I used ABC a while back... go up in the lift place in the city. I saw the NSW premier there with his Chinese wife... Bob something.
ok
ok
NSW
1089 posts
ok ok
NSW, 1089 posts
8 Nov 2011 8:57pm
TO THOSE WHO WINGE ABOUT PEOPLE WHO HAVE MORE MONEY THEN THEY DO AND SAY THEY ARE CONTROLLING AND ITS TERRIBLE THAT THESE PEOPLE HAVE SO MUCH MONEY AND YOU DONT.

You will not change the way it is by sitting in a ****ing park dressed like gypsies crying like babies. WAKE THE UP
GalahOnTheBay
GalahOnTheBay
NSW
4188 posts
NSW, 4188 posts
8 Nov 2011 9:31pm
petermac33 said...

Money to the owners of the banks is a irrelevancy,as they can print at will.


Economics 101 - Banks don't print money. Never have and never will.

In Australia the RBA has that role: http://www.rba.gov.au/banknotes/about/responsibility.html

The Reserve Bank Act 1959 confers on the Reserve Bank of Australia the responsibility for the production and issue, reissue and cancellation of Australia's banknotes.


In fact banks are also limited in what they can loan based on a multiple of the amount they hold as deposits.

And as for this...

petermac33 said...

You don't have the income to pay the mortgage, they take your house.


...sounds like a fair deal to me - banks are not charities last I heard.
choco
choco
SA
4186 posts
SA, 4186 posts
8 Nov 2011 9:04pm
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