Ozbecool Post 373112 reads to me like it's in an Industry Superfund, not a SMSF. But that's besides the point. You ask why would the cash go belly up in Australia. Why not? Once you give your cash to an institution it can end up anywhere, including off shore. It depends on how they invest it. Some may be in international shares, or international property, or local property, who knows. I guess people sleep at night with cash because it's in Australian banks and they KNOW it's Gov guaranteed, at least money not added since March 31 or amounts over $1million. They are also the first to knock our banks and say how irresponsible their lending is and how they shouldn't expose themselves to overseas investment or borrowings. I guess that's all and well when the hypocrites are making interest from the banks. Just my opinion but I believe every cent in an Australian bank is safe.
My point was that the world economies are being bashed by some on a constant basis as basket cases only worthy of an implosion and 'serve right' the banks and Govs. Then in the next breath say they will buy the crash and make money the following 'week'. I still stand by my point, if those believe it's as catastrophic as it's portrayed then no where is safe. I don't care whether you manage your own fund either. Do you recall during the GFC when mass exodus withdrawals were not allowed in Australia. You had to get permission. The music can stop any where any time and everyone is locked in to whatever unfolds.
