Banking Royal Commission

[TigerForce]

As an aside on banks it seems strange to me that there is not more noise being made about the fact that the banks are not increasing their deposit interest rates in line with their borrowing rates.
To me it is pure profiteering

Has been for yonks.

 

[DavidSSS]

What’s cash ?

You can buy things with it, and it means you don't have to give out your life story for someone to hack later and sell online!

DS

 

[TigerForce]

You can buy things with it, and it means you don't have to give out your life story for someone to hack later and sell online!

DS

I still use paper money with those small silver or gold metal round things.

 

[DavidSSS]

I still use paper money with those small silver or gold metal round things.

No copper round things?

Actually a cafe I buy coffee at near work occasionally forget that I pay cash so ask me for an amount which is not possible to pay without copper coins, I must remember one day to bring in a few copper coins so I can pay the correct amount!

DS

 

[TigerForce]

No copper round things?

Actually a cafe I buy coffee at near work occasionally forget that I pay cash so ask me for an amount which is not possible to pay without copper coins, I must remember one day to bring in a few copper coins so I can pay the correct amount!

DS

I still use cash and coins for anything under $50 (shopping included). Funny thing is that it's still quicker than card at times (and safe from tech faults)

 

[craig]

You can buy things with it, and it means you don't have to give out your life story for someone to hack later and sell online!

DS

Or have your finances open to being controlled when its gone.

 

[TigerMasochist]

I still use paper money with those small silver or gold metal round things.

*smile*! Where do you get paper money from??

 

[TigerForce]

*smile*! Where do you get paper money from??

This machine where you press some buttons with numbers on them. Some paper is gold coloured but sometimes it's green.

 

[TigerMasochist]

This machine where you press some buttons with numbers on them. Some paper is gold coloured but sometimes it's green.

It's all *smile* plastic in Oz. Paper money died years ago, probably healthier for the planet, but it wears out to quick unlike plastic.

 

[TigerForce]

It's all *smile* plastic in Oz. Paper money died years ago, probably healthier for the planet, but it wears out to quick unlike plastic.

True. The Yanks' cash notes still look like screwed up toilet paper.

 

[MB78]

As an aside on banks it seems strange to me that there is not more noise being made about the fact that the banks are not increasing their deposit interest rates in line with their borrowing rates.
To me it is pure profiteering

It’s interesting and it’s the way of the corporate world you see the following. Record profit or close to. It needs to be announced to the ASX. Share analysts say the profit was below expectations and they need to cut costs, due to significant headwinds. Then the share price goes down for a number of days. Then the board and CEO act on it and announce changes and shares go up. Big banks have continued to make large and record profits despite divestment of assets particularly in wealth management and insurance.

Have a look at the profits that banks make. Then look at the wages they pay in staff entitlements. I know which number is bigger.

The main consolation is most of us have a lot of our supper/wealth tied up in bank shares so we might win from that.

 

[MB78]

I still use cash and coins for anything under $50 (shopping included). Funny thing is that it's still quicker than card at times (and safe from tech faults)

I’m involved in community clubs. The amount of people that don’t have $5 for a raffle ticket is disgraceful as they don’t have coins. Getting to the stage that you need a merchant when selling raffle tickets.

Also how do kids learn about money if there is none.

Continue to use cash people.