gold set to soar on cyprus bank run imo, page-268

Winter states

"Timber as someone that works in the finance team of a big 4 bank I can say the Aussie banks have come out of the gfc stronger than ever and are pretty much safest in world. "

Based on what historic scenario have you come to this conclusion?

How we fared during the GFC?

How do you know another finacial tsunami is not coming that will be more destructive than the first?

The "genius" bankers did not see it coming the first time but we are supposed to believe that we will be protected from now on.

I can smell the stench of blind arrogance.

If winter and timber are indicators of finacial awareness in the industry i think its time to buy more precious metals because this is really a worry.

Self proclaimed kings in their own kingdom.

We have a rigged banking market in aust. Totally stitched up by the big 4.

Tell me something guys, without real competition in a professional arena, how do you know if anyone is any good?

We do pay a high price for the "security" offered by banks, such as having limited options when it comes to banking choice.

For years we have been taken for a ride by the banks because there is no competition in the banking services in Australia. What happened to many of the smaller banks during the GFC, gobbled up by the big 4.

Over time when you look at the extra amounts we HAVE TO PAY because of limited competition, you will find that we have paid a hefty premium to live with this safety and security in the banks.


The other issue that concerns me is the combined market cap of aussie banks being larger than ALL the european banks COMBINED?

You think that is safe?

I think thats a bubble.

Think about it.

Size of Australian GDP?

Size of Euro Zone GDP?

Calling the banks here the big 4 is a total joke.

Just call it the big 1 with political sponsorship so that market share is totally controlled by the big 1 bank.

But im not here to bank bash, this is about gold, and with you guys in there taking your piece of the pie and patting yourselves on the back every day telling yourselves you have a world class banking system, PMs seem like a better buy.