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I don't want to stray too far from the thread but as we're...

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Jack73

1,273 Posts.

31/08/14

12:25

Post #: 13900956
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Originally posted by All4One ↑

Kingpins

Its the old shell game. The banking system in a nutshell, re-hypothecation, and then again.
The Big Four Banks hold only 8% in cash to cover only 18% of all Australian mortgages. The Big Four Banks have around 80% of all there business in Australian mortgages. Im sorry to harp on but I find it very troublesome when you think they have been bailed out once because they didn't have enough cash reserves and now the government has pretty much let them set their own reserves when it comes to the Australian mortgage market. It wont take much to shake the tree and people will be falling out all over.

GOLD
The U.S. has refused an independent audit on their Gold Reserves.
Australia (Abbott) has refused an independent audit on our Gold Reserves.
Most of it is in London in the old shell game.

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I don't want to stray too far from the thread but as we're discussing it...

wait until the cycle turns and interest rates here in Australia do rise. I shudder to think of all those first home buyers in places like Rouse Hill and The Ponds here in Sydney mortgaged to the hilt on their $900k 350sqm house & land packages.

Last edited by Jack73: 31/08/14
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