Dear Big Nana,

I pay all of the card bills in full by the due date.
I've never had any financial problems with my cards because
I plan my expenses wisely.

I doubt this or any federal government holds the blame for private spending, it is in the DNA of far too many to over spend on credit,my savior came over 40 years ago,I over spent, and knew it,made huge efforts to repay it fast, $600 a fortnight, a lot of money then, in those days you had your bank card swiped and got one of the slips back, unwary I threw mine in the banks rubbish bin! never knew it would cost me $1800! the final three payments, the teller was convicted of thieving from about ten of us, paid it but left one cent over payment in doing so,got balance for ten years but never my cash back,previous lady bank manager told me the bank knew but she could not move them, not nice but? never ever again used other than cash, you can do it too, if you can not afford it you do not need it.

Take your credit card on a holiday overseas, then see how much you will get ripped off by bank fees, low money conversion rates, 3.25% visa fee, higher charges for using the card not cash (not all places can you even use a credit or debit card), try enjoying it if the machine swallows your card or you need a replacement (my bank want $175 to replace a card overseas $10 to replace it in Australia).

I went to buy my first house at around twenty.
I was knocked back by the banks and the loan sharks like Custom Credit, because I didn't have a credit history.
This was bizarre to me, as I would explain that I would think that made me more eligible.
Followed by my asking did I have a record of any financial mis-demeanors?
Their response was that because they had nothing on me I was considered a risk.
Well I had had enough of this convoluted BS, and stormed out.
Being a wog, we don't take to kindly to stupidity and we don't wear fools easily.
This policy was both stupid and administered by fools.
I had been told early in my quest for a loan that if I purchased something, anything, 'on the drip', it would give me a credit rating and all would be well.
I was furious.
On my way home I walked past a department store we used to have here in Perth, called Boans.
Upon seeing a very small portable TV for around $100, from memory, went in and bought it 'on the drip'.
I had the bulk of the purchase price of the house in cash.
So the loan was a 'filler', and a lesser amount than the cash I already had.
I turned to a family member for this money, explaining I would repay, with interest, once I had a rating and got the loan.
Well I bought the house, got the loan, repaid the debt and as I had saved/earned enough in the meantime to almost pay the loan out prematurely, I did, only a matter of months after I got the loan.
Sure there were penalties, but nothing compared to the satisfaction I had in telling the pricks to shove their policy up their collective ar$#$.
I still have that little TV.
I hardly used it, well not to watch anyway.
It proved useful to achieve another thing typically stupid in this 'penal colony'.
I thought we lost that tag years ago.

Is it just me, or is everyone out there OK with these mongrel banks bragging about their $5 or $6 Billion dollar, HALF YEARLY PROFITS.
I mean.
Really?
Why are we not shutting these thieves down.
We know who's behind it all and has been for centuries, and yet we just sit back and shrug our shoulders.
At least I'm out there bagging the bastards because I can tell you, when this next crash comes, it will be them who will be buying up your assets and houses for a fraction of what it's worth, (remember the US).
One of the commentors have already mentioned the next wave of theft they will bring upon those of us with cash in the bank.
He called it 'opt in'.
The current name for it is 'bail in'.
These words mean that when, yes when, we have another financial crisis or collapse, the banks will essentially take at least part of your cash and there is nothing you can do about it.
I think someone said they will convert your cash to some worthless toilet paper in the form bank bonds or something equally as useless.
Unless you withdraw your cash.
I would love to see a run on the banks.
I have decided to do a multi dwelling development instead of leaving all the cash in the bank.
At least this way, the money is out of reach of their scabby claws and I will receive more than double the return in rents as these bastards will ever pay out.
I strongly advise those of you with at least six or seven figures in the bank to give this serious consideration.

ALTRAV also

Gold - Under Part IV of the Banking Act 1959, the Governor-General has the power to sign a Proclamation that compels individuals and entities to hand over all gold bullion (except for gold connected to an individual’s profession or trade) above a prescribed weight to the RBA within one month or face criminal prosecution.

The RBA, under section 44 of the Banking Act 1959, will publish the price at which individuals or entities are to be compensated for the gold bullion that is confiscated by the Federal Government.

Basically they can take your gold and set the price in peanuts they will pay you.
Con"t