Discussion forum for those
who love to stack precious metals
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^ and the depositors only received 51c in the $1
Don't be shy....Stack it high!!
Pyramid Building Society, ... that there would in the end be a guarantee.
Nice. 3c per litre fuel levy for 5 years paid for the idiots
We've had levies for far less (e.g. the bullshit budget repair levy). So the big question is, would there be a massive levy applied to everything to cover bank failures and hme loan defaults? Maybe a "temporary" doubling of the GST, fuel surcharges, increased income tax on anyone earning over ten cents, etc.
Catus amat piscem, sed non vult tingere plantas
In the case of massive bank failures governments can't sell debts because no bids on their bonds. The end result is, the government itself defaults. In the case if one lager banks fails like Deutsche Bank the government has no option to step in to take it over to stop the domino effect, but they can't do this in the case of massive large systematic bank failures as they will be hopeless.
The US dollars and Treasury debt called "risk off" because the global fiat system can only survive as long as that remains the case.