Arjay;
because the CEC sent letters to every politician about the evidence for bail in.

What is the CEC ?

It really is time that you admitted to yourself that you haven't the first clue about finance, Arjay. You keep waffling on about "derivatives" and "exposure", but clearly understand neither.

Let's start with this one:

>>Our banks have derivative exposure 6 times their assets.<<

Ok. Show me. Point us to the numbers themselves, so we can all have a good laugh.

Just as a hint - Westpac's assets in 2014 were $771 billion. So your self-imposed task is to show us $4.5 trillion in derivative exposures.

(Don't forget to net off the puts against the calls, will you.)

I know you can't, and will instead start gabbing on about total irrelevancies, but I just wanted you to know that every so often I'm going to call you out on this arrant nonsense.

Have a great conspiracy-nut day.

Just asking FOYLE a question. Aren't u explaining how the system of reserve requirements works? is not a fractional reserve banking system enabled by the use of leverage, ie only retaining a fraction of reserves and creating the rest?

Bazz,
The CEC are a lunatic fringe political party who think that everythhing's a Britisih conspiracy. They claim President Obama works for MI5, and they've made that same accusation against at least one of the Aussie PMs (I haven't been keeping track of them lately so I can't remember who they've made that accusation againt here, but I'm guessing Gillard, and I'd be surprised if they haven't said the same about Abbott by now).

In my state (SA) they stood in several senate elections but not the last one. And they have a TV show on channel 44.