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Post by bear on Mar 13, 2020 9:08:28 GMT 7
My understanding of the bail in laws are that once people with big money have to start paying the banks to have that money; they are most likely to start spending it on hard assets such as gold, real estate etc., as well as stuffing their mattresses I guess. I read an article the other day and the amount of money the banks stand to gain in such circumstances is staggering in the extreme. No elite is going to stand for that. Unfortunately I can't find it again. Building societies may be the go to..... bradjamesmatthews.com/australia-new-bank-bail-in-laws/
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Post by tallgirl on Mar 14, 2020 19:37:04 GMT 7
Realistically is the lurking possibility of a ' bail in ' being imposed on all Aussies in the not so far future.
Isn't there depositor insurance in Australia? Isn't the government required to pay back depositors if a bank goes under?
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Post by bear on Mar 15, 2020 6:00:26 GMT 7
Realistically is the lurking possibility of a ' bail in ' being imposed on all Aussies in the not so far future.
Isn't there depositor insurance in Australia? Isn't the government required to pay back depositors if a bank goes under?
There was depositor insurance in Australia. I think though, with the possibility of interest rates going into negative territory and the new Government bail in laws, the dynamic may have changed somewhat. It appears the new laws are to maintain financial system stability which over rides deposit protection. "‘Bail In’ is about government not bailing out distressed institutions as we saw in the GFC using tax payer’s money, rather using the creditors of the bank to bail itself out." www.ainsliebullion.com.au/mobile/gold-silver-bullion-news/senate-passes-e2-80-98bail-in-e2-80-99-law-e2-80-93-how-safe-is-your-cash-now-/tabid/155/a/1722/default.aspx"Protection of depositors' savings and 'bail-in'"2.28 As noted above, an overwhelming majority of stakeholders, particularly members of the CEC, expressed fear that the proposed legislation would allow APRA to 'bail-in' the savings of depositors in order to stabilise a failing financial institution. The term 'bail-in' refers to the conversion of capital instruments into cash that is then used to support an institution in distress. 2.29 Dr Wilson Sy, a former analyst with APRA, considered that the bill was not clear enough on the topic of depositors' savings. Dr Sy suggested that whilst the Banking Act 1959 (Banking Act) includes a section on the protection of depositors, it also says in Subdivision A, subsection 12(1), Division 2 of Part II: It is the duty of APRA to exercise its powers and functions under this Division for the protection of the depositors of the several ADIs and for the promotion of financial system stability in Australia.[19] 2.30 Dr Sy explained that this statement 'may provide some comfort to ordinary people, but it is illusory because deposit protection is to be balanced against financial system stability, without the law clearly stating which has higher priority'. Dr Sy claimed that the bill is 'designed to confiscate bank deposits to 'bail-in' insolvent banks to save the financial system'.[20] www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/CrisisResolutionPowers/Report/c02
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Post by Banjo on Oct 2, 2021 18:32:05 GMT 7
Dutch expat to appeal after Thai court sides with higher hospital fees for foreignersA Dutch national said today he will appeal a court ruling against his lawsuit challenging dual-pricing at Thailand’s public hospitals as unconstitutional. Erwin Buse said the Administrative Court in Phetchaburi province relied on incorrect information provided by the health ministry in its Tuesday decision. “I am very disappointed that the court mainly follows and repeat statements of the defendant without fact check,” Buse said Wednesday afternoon in a message. He noted that the ministry had changed how it defined labor costs, a key factor in determining hospital fees. Erwin had asked the court to strike down the pricing structure in place since 2019 for violating the constitution’s equal protection guarantee, as by the ministry’s own regulations, the fees should be determined by actual costs. In its judgment, the court said that it did not see that as discriminatory – because the higher rates charged of foreigners, who it presumes earn more than Thais, is good for the nation. “The pricing was set on an appropriate basis of socioeconomic status, and it benefits Thailand, so it therefore doesn’t count as discrimination,” the court ruling said. His lawsuit named the ministry and its head, who is now Minister Anutin Charnvirakul. It asked the court to annul the rate structure and order the ministry to revert to unified rates in place since 2004. use first took on overcharging on a personal level several years ago when he was traveling 100 kilometers from his rural residence for cancer treatments at Hua Hin Hospital. He described being charged hundreds of baht in “additional fees” each time. Under new rules enacted in September 2019, public hospitals were instructed to charge patients at what amounts to four tiers based on their legal status: Thai nationals, citizens of neighboring countries and working foreigners on non-immigrant visas. The fourth group consists of tourists, retirees and included foreigners married to Thai nationals. Fees are much higher for the third group – which includes most expats – while those in the fourth pay much more, often double. For example, according to a ministry fee structure published at the time, simple antibody screenings cost Thais and ASEAN residents THB130 and expats THB190. Retirees and tourists pay double – THB260. On the higher end, a spinal MRI that costs citizens and their neighbors THB18,700 jumps up to THB23,375 for working expats and THB28,050 for retirees/tourists. coconuts.co/bangkok/news/dutch-expat-to-appeal-after-thai-court-sides-with-higher-hospital-fees-for-foreigners/
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Post by bear on Oct 2, 2021 18:57:58 GMT 7
Good luck to that man in his appeal!! If successful, we all benefit and going on the court's logic; perhaps an income test for all here would be a much fairer way to determine costs rather than presumption. Cheers bear
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Post by JJJ88 on Jan 17, 2022 18:26:55 GMT 7
Hi everyone!
Are there any other members in the Philippines who get payed into a local bank that are experiencing a delay in getting their pension aswel?
Cheers
J
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Post by bear on Jan 17, 2022 19:41:57 GMT 7
Hi everyone! Are there any other members in the Philippines who get payed into a local bank that are experiencing a delay in getting their pension aswel? Cheers J Hopefully someone who does will be along JJ. Is your payment ridiculously late; i.e. over a fortnight?? I was paid successfully 14 January!! Unfortunately; and I have to say it, but it could also be due to the state of affairs in Oz as well. Supply chains down, logistics problems, supermarkets empty and who would know how many off work; and since keeping tabs on things seems to have gone AWOL over there, perhaps they don't have enough data entry operators to maintain the system. According to the link there's a 7 day average of 108,000 new cases a day.
From your end this is about the best I can do; hopefully it will be a help to navigate the situation. Take care, stay safe; cheers bear
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Post by JJJ88 on Jan 17, 2022 19:55:03 GMT 7
Hi everyone! Are there any other members in the Philippines who get payed into a local bank that are experiencing a delay in getting their pension aswel? Cheers J Hopefully someone who does will be along JJ. Is your payment ridiculously late; i.e. over a fortnight?? Thanks Bear. We did not get hit too bad here apart from the wind nearly taking off the roof and blowing a couple of trees down up the road. Had no power & running water for 48 hours. Communications were gone and havn't been 100 percent ever since so maybe that is the problem that's causing the delay. Cheers J
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Post by bear on Jan 17, 2022 20:21:40 GMT 7
Hopefully someone who does will be along JJ. Is your payment ridiculously late; i.e. over a fortnight?? Thanks Bear. We did not get hit too bad here apart from the wind nearly taking off the roof and blowing a couple of trees down up the road. Had no power & running water for 48 hours. Communications were gone and havn't been 100 percent ever since so maybe that is the problem that's causing the delay. Cheers J I was updating my post while you were posting this one JJ.....maybe backtrack and read my extras thoughts. Cheers bear
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Post by JJJ88 on Jan 18, 2022 6:16:22 GMT 7
Thanks Bear. We did not get hit too bad here apart from the wind nearly taking off the roof and blowing a couple of trees down up the road. Had no power & running water for 48 hours. Communications were gone and havn't been 100 percent ever since so maybe that is the problem that's causing the delay. Cheers J I was updating my post while you were posting this one JJ.....maybe backtrack and read my extras thoughts. Cheers bear Thanks Bear. Yeah your probably right. The pension usually shows as paid as it did last Wednesday night on my Centerlink express account then is usually available in my Philippines Bank account by the following Monday afternoon which was yesterday. As it is still not there it could be what you mentioned above or i'm thinking it is maybe late because of the national holiday in the U.S (Martin Luthur King Day). Cheers J
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