"Bail In" is planned for Australia. http://www.youtube.com/watch?v=VlNEAkt5Nfw The CEC have the proof and see also http://www.barnabyisright.com/ This has all been planned by the Financial Stability Board and APRA approves it.

If our banks get into trouble they will have the power to convert your savings to their shares. When banks get into trouble their shares become worthless.

Arjay,
The Australian banks were all ripe for a government take over on 15th or 16th of September 2008. It many ways it is a pity that the Federal Government didn't take that option rather than guarantee the depositors although either would have achieved the necessary goal.

As I understand that aim of the bail-in laws is to put people and companies who buy of bank bond in the same position as shareholders in the event of a bank failure. I am not sure that that puts depositors at any disadvantage.

Chifley lost an election when Menzies opposed his plans to privatise the banks. Immediately after winning the election Menzies took the next best step and regulated the banks tightly.

Howard started the process of deregulation with the Campbell Inquiry and followed that up later with the Wallis Inquiry. Fortunately in Australia the deregulation didn't go as far as it did in the USA and some other countries.

From 1998 Howard ignored the advice of the then Governor of the Reserve Bank and the G7 finance ministers. See the press release of 31 October 1998.

just watching the cec report
interesting points made re bail-in..plus the eposit insurance sceme
[99percent of deposits..protected[up to 250,000]..

protected how?
up to 50%..lol
if you dont 'get it;now
you wont miss it then..vote cec

went to web site
http://www.cecaust.com.au/
but only showing cec from last week
http://vimeo.com/72081635

trust govt?
http://investmentwatchblog.com/trust-government-not-after-watching-this/

who is profiteering from all this terror?
http://www.alternet.org/civil-liberties/5-companies-make-money-keeping-americans-terrified-terror-attacks

arming egypt
http://www.globalpost.com/dispatch/news/regions/americas/united-states/130816/top-10-american-corporations-egypt-military-us-aid

avoid paper gold
http://investmentwatchblog.com/gold-silver-demand-to-overwhelm-manipulation-andy-hoffman/
http://blogs.marketwatch.com/thetell/2013/08/16/golds-wild-ride-whats-next-for-the-yellow-metal/

gold or not
http://www.zerohedge.com/news/2013-08-16/gold-or-tungsten-heres-how-know

first blush..of hyper inflation?
http://www.blacklistednews.com/What_Is_Going_To_Happen_If_Interest_Rates_Continue_To_Rise_Rapidly%3F/28164/0/38/38/Y/M.html

The yield on 10 year U.S. Treasuries is up nearly 120 basis points since the beginning of May, and almost everyone on Wall Street seems convinced that it is going to go much higher.
http://intellihub.com/2013/08/16/the-steps-to-a-free-society-4-ways-to-wake-people-up/

the iceland hero
http://www.activistpost.com/2013/08/the-man-who-changed-iceland-message-for.html
http://investmentwatchblog.com/warning-george-soros-is-putting-a-put-call-on-the-sp-500-betting-that-its-going-to-collapse/
http://investmentwatchblog.com/warning-the-countdown-to-the-economic-collapse-has-begun-everything-is-being-put-into-place-for-the-fierce-storm-that-is-approaching/

http://investmentwatchblog.com/game-over-the-world-is-a-stage-full-of-puppets-paid-actors/

faulse flag$?
http://12160.info/profiles/blog/show?id=2649739%3ABlogPost%3A1289950&xgs=1&xg_source=msg_share_post
http://www.redressonline.com/2013/08/israels-foul-mouthed-pr-genius-and-its-slick-army-bloggers/

http://rinf.com/alt-news/breaking-news/stock-market-crash-just-ahead-2/60011/
http://www.realclearpolitics.com/articles/2013/08/16/elite_ignorance_119616.html

Just to put things into perspective, a quote or 2 from the Business section of the Philippine Daily Inquirer, 17 Aug.2013, "Gov't debt rose to P5.45T in end-June", by Michelle V. Remo:

"Govt documents showed that the outstanding debt amounted to P5.45 trillion as of the end of June, up 6.9% from P5.1 trillion a year ago.

If the estimated 94 million Filipinos would be made to equally share the burden of settling the gov't's outstanding debt, each would have to shoulder about P58,000

With the economy's robust expansion and what the DOF said was a modest rise in govt borrowings, the proportion of the outstanding debt to the country's gross domestic product by the end of this year is expected to fall to 48.7%."

Count your blessings.

"You completely ignore the spending flows that I mentioned"

No I didn't Foyle because there isn't any; based on Leigh's study of the House-hold Assistance $21 billion GFC package that $21 billion was spent on the following:

Spent 40.5%
Saved 24.0%
Paid off debt 35.5%

The 40.5 was mainly spent on imported manufacturing goods thus increasing the negative balance of trade; the 35.5 debt reduction was mainly small debt and saving was into small deposits which are not used for "residual" or "leakage" flow-ons through the economy.

There was no lasting economic benefit from the $21 billion which set the expenditure tone for the rest of Rudd government. There has been no lasting infrastructure benefit from the $260 billion debt. Arguably Rudd and Swan's stimulus exacerbated Australia's economy rather than assisting it.

The main purchasers of government bonds are super funds and self-funded retirees not banks.

Debt is no a bad thing if worthwhile, ongoing projects are the result. I have challenged AA to provide an example of a lasting benefit from Rudd's deficiet, perhaps you can help him.

I wrote:

>> Wouldn’t a big reduction in immigration actually allow us much more freedom to build other sorts of infrastructure? <<

Alan, you replied:

>> Not sure. The argument regarding immigration and population is for another forum. But a steadily growing population is certainly not inconsistent with increasing prosperity and standard of living. It is a vital part of being a good global citizen. <<

With great respect, I find it very hard to reconcile anyone having a detailed knowledge of economics and finances as you do, but not having a feeling about this enormously important, or at least potentially enormously important, factor.

And I would most definitely say that this factor sits very strongly within this debate and is not something that should be excluded from it and discussed elsewhere instead.

Surely one of the most fundamental basic tenets of economics, and all its fiscal factors, is to be very mindful of supply and demand. As I have said many times on this forum, it is crazy that so many economists seem to be blind to, or just blithely accepting of, the fact that we have very rapidly increasing demand for just about everything, with no end in sight…. and that all our efforts are being put into chasing the tail of this demand by working only on increasing supply.

This ever-increasing demand is created by high population growth, which is due 60+% to immigration. It is the single most adjustable economic/fiscal factor!

continued