I'll never put a penny into any crypto currency. They can fold at any time with legal impunity as they are not legal tender and thus cannot be guaranteed and they are not backed by gold or other assets.

Westpac = Western Pacific Banking Corporation - the legal entity that traded as the Bank of New South Wales until 1982..

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A valve a day keeps the transistor away...

- Credit Suisse

- First Republic Bank


the dominos are falling...

On asking a trusted friend in the U.S how many more? This is his answer.
Tallar Francis Carl not sure exact number but today over 20 private jets carrying banking CEO's flew to Omaha Nebraska to meet with Warren Buffet. It's rumoured that upwards of a 185 regional banks are in trouble. That's just USA...there's many international ones too.

Based on converging Fibonacci time spans from recessions since 1780, contrarian analyst Robert Prechter said that 2021 would be a 'Grand Supercycle' peak year. How is that prediction holding out? Well, the Dow made a record top later that year, and a rally a year later has failed so far. A new Dow high would invalidate this cycles thesis -- but he would only acknowledge a Dow-priced-in-gold chart, which is a different looking animal

It rather proves that a cycle of greed and monopoly can destroy itself. Within an organisations greatest strength, can lay its greatest weakness, and it can implode from within.

If you have a monopoly and people suddenly can't afford what you have, or stop buying it. You are a sitting duck.

Marcc have you noticed the greedy are the ones that rarely suffer!

We did make a start, but not necessarily a good one, at the last election. by getting rid of one lot who's greed & supporting their own knew no bounds.

A classic was changing the pension assessments, telling me and others we were earning money that did not exist, branding us capitalist bourgeoisie & putting a surcharge on farmland with a separate tittle land just because we owned it and using that to reduce my pension and about 150,000 other rural people, by hundreds of dollars below the poverty line. and the Royal commission into aged care revealed worse (no polly has been punished of course)

You cannot vote for contemptuous people like that and the majority didn't.

It's a choice between incompetence AND corruption or just corruption.

The old saying is, one doesn't get big by being honest. I think by and large there are exceptions but a great sacrifice would have to be made along with some exceptional business acumen thrown in for good measure.

The bottom line is though, it is possible for Bank A and Bank B to have incorporated at the same time, get the same number of punters over a given time, offer the same services, have the same number of employees and have an identical fee structure yet one of these banks can yield a profit far bigger than the other.

The four big banks here are almost the same size though there are differences but they each control roughly 20% of the Australian market, with the remaining 20% controlled by the smaller banks and the various building societies, credit unions, mortgage originators and credit card providers. Banks even issue American Express credit cards these days so AMEX doesn't have a monopoly on that anymore.

It is this market concentration that allows Australia's major banks to be in the top 20 large banks worldwide and like I said before, if any one of them failed, it'd get messy because the big four banks pretty much control all electronic payments in this country.

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A valve a day keeps the transistor away...

QUOTE: ..telling me and others we were earning money that did not exist

If you search a 'Dow-priced-in-gold' chart you'll see the 'actual' market top was year 2000, not the orthodox 'top' in 2021.
Therefore, the "prosperity" since the 'Great Recession' was just a chimera engineered by central bankers driving interest rates down to zero. This forestalled, but does not erase the coming meltdown.

...an implication of the Grand-Supercycle thesis being after the perceived peak of 2021, the world will enter a ~100-yr economic dark-age (with wars) after implosion of national sovereign debts and the quadrillion held in Derivatives.

I note the dominoes are still falling. One gets the feeling that trading in tangibles like gold was the the most stable.

However, across the board we must never forget that within the greatest strength: Can lie the greatest weakness and that is what brings it crashing down.

I did like Kerry Packer in the time of Alan Bond & the economic turmoil of that era: A lesson forgotten.

Whilst Bond was making money on paper (shares etc): Packer was making money, out of paper. He survived where others fell, as he was taking something tangible and value adding it.

Must be the reason doomed 'millennials' are so messed up...women wearing man-shoes...

On that; Shepparton has recently replaced the clapped out public toilets at Dookie Vic.

Rather than have His Hers Disabled & Its and the kids being brainwashed into not knowing not if they are Artur or Martha, they went Unisex.

"Disabled" is a funny term to use on the dunny? Makes one think they should call in plumbers to fix it. English is a strange language.

Marcc in the past all public disabled toilets where men's toilets. I'm thinking there was some sort of feminist conspiracy in action then lol.