tag:blogger.com,1999:blog-9214368411532770626.post7122457575201955027..comments2015-04-20T15:12:32.820+10:00Comments on The Great Australian Investment Ponzi: The Linktone circular investment scamDr Benwayhttp://www.blogger.com/profile/07733149271772819325noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-9214368411532770626.post-24816230740514472472014-12-02T00:17:47.482+11:002014-12-02T00:17:47.482+11:00You might find this informative:
http://www.rba.g...You might find this informative:<br /><br />http://www.rba.gov.au/mkt-operations/dom-mkt-oper.html#tiotb3ls<br /><br />Of particular interest is the RBA's 'committed liquidity facility', whereby the RBA magically transforms whatever shit is on the books of the commercial banks into HQLA, that is cough - high quality liquid assets- cough...cough...<br /><br />How this 'committed liquidity facility' is any different from the RBA's Open Market Operations, is not readily discernible since the RBA monetises whatever shit (mostly mortgage debt) is on the books of the commercial banks through that avenue anyhow, but it apparently meets Basel III 'liquidity standards'.<br /><br />The end result however can be seen if you look at the exchange settlement balances of the commercial banks. There is no need to wonder about the 'profit' being reported by these banks.The Central Scrutinizerhttps://www.blogger.com/profile/09978484230689380341noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-23539830231463684432014-11-17T10:58:46.359+11:002014-11-17T10:58:46.359+11:00Thanks Dr for your reply.
Yes, banking is a scam....Thanks Dr for your reply.<br /><br />Yes, banking is a scam.<br /><br />It boggles the mind when one small group in society have been given a legal right to type abstract numbers into a computer, at no cost, call it money, hand it to someone else at interest, who then have a claim on real goods and services in the world. <br /><br />This is an affront to everyone who gets up in the morning and actually works for their money. <br /><br />Talking about inflated house prices, take a look at the last 2 yr run up in Sydney house prices:<br /><br />http://www.rba.gov.au/chart-pack/household-sector.html<br /><br />The chart looks like one of those LICs ramps you display here from time to time. <br /><br />My thinking is this rightfully has to end and maybe with the banks resorting to accounting gimmicks just to show a profit is a sign of that end.<br /><br /> <br />TheFormshttps://www.blogger.com/profile/02620517198013194462noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-59864842192620573182014-11-17T06:50:59.059+11:002014-11-17T06:50:59.059+11:00Hi TheForms, hope you are well. The scam of bankin...Hi TheForms, hope you are well. The scam of banking is a much simpler form of fraud - creating money from nothing and lending at interest - although you are absolutely right that jimmying with various non-cash accounting measures can shift these institutions' profits at will. The story of how our financial and economic system has declined into a debt-based ponzi goes as follows:<br /><br />Society realized it could move the major determinant of 'wealth', namely property prices, by policy using rates and taxation law. Ramping property prices also ramp stock prices as the banks both constitute the stock market and control it. But everyone has to pretend that property is solely priced by a dispassionate market. Society then created a several decade property boom, institutionalizing the idea that property prices increase faster than inflation/rents/income. The longterm expected capital gain priced into the property market is now far above expected increases in rents/income, an impossible expectation to reconcile. The current horde of loss-making property "investors" prove that. As a result, if you buy property today, half the price you pay is for the actual property, with the other half of the price paid for expected unsustainable future capital gains. If people could buy property, while contracting away future capital gains in excess of increases in rents, they would be willing to pay significantly less for the property.<br /><br />Here are a couple of very simple questions you never hear the banks/rba/gov/shills answer, much less pose:<br /><br />1. What is the longterm capital gain priced into current property prices? 2. What proportion of current property prices are based on the above expectation?<br /><br />Good luck in getting anybody to ever answer these two simple questions. The honest answer would be maybe 7% and 50%, respectively.Dr Benwayhttps://www.blogger.com/profile/07733149271772819325noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-23136353163793783972014-11-15T17:01:36.503+11:002014-11-15T17:01:36.503+11:00Dr, I know your focus is on LICs but the CBAs Sep ...Dr, I know your focus is on LICs but the CBAs Sep 14 quarterly profit result sparked my interest and I wondered if you had an opinion on it.<br /><br />As was mentioned in the paper, CBAs result benefited by the decline in doubtful debts for the period.<br /><br />So I went and had a look and it seems to me (and I am no expert on banking shares) the entire profit increase was due to the $300mill reduction in doubtful debt expense.<br /> <br />This reduction of doubtful debts at a time when unemployment is on the up and up seems dubious to me.<br /><br />It’s only one quarter, but maybe the 4 pillars run is over!<br /><br /><br />TheFormshttps://www.blogger.com/profile/02620517198013194462noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-9043052824310183622014-11-04T06:46:48.890+11:002014-11-04T06:46:48.890+11:00Hi Malcolm. No, haven't seen this lovely invit...Hi Malcolm. No, haven't seen this lovely invitation to fund a loan-sharking operation before. So you lend money at 9% to Partner, they lend it out at over 40% in "quick, no credit check loans"? Sounds great.Dr Benwayhttps://www.blogger.com/profile/07733149271772819325noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-48889528508765694692014-11-03T23:14:28.483+11:002014-11-03T23:14:28.483+11:00G'day Doc. Ever run across these guys, who hav...G'day Doc. Ever run across these guys, who have just sent an email to an old address of mine that's now just a legacy postbox? It seems like a Melbourne-Cup-time angle to a continuing scam, don't you reckon?:<br /> <br />View Online | Forward | Unsubscribe <br /><br /> <br /> <br /><br />BACK A GUARANTEED WINNER<br />9%* Returns Guaranteed & Secured <br /> <br /><br />Why gamble your money away on the horses when you can get access to a sure thing winner?<br /><br />9%* returns guaranteed & secured!<br /><br />Register your interest today to receive <br />details on this winning ticket.<br /><br />Possibly the best passive income opportunity available right now in Australia. 9% pa rate of return with money that is paid to your bank account on time every month. Capital is secured and guaranteed by Partner Lend - a company with a proven track record.<br /><br />Perfect option for asset rich, cash flow poor investors that would like to turn lazy equity into better performing returns. <br />BACK A WINNER <br /><br /><br />* 9% returns per annum are paid monthly. Minimum investment $50,000 AUD<br /> <br /><br />Read Online | Subscribe | Unsubscribe | Update your profile | Forward to a friend <br /><br />Partner Lend Pty Ltd<br />Level 6 | 10 Bridge Street | Sydney 2000 | NSW | Australia<br />T 1800 125 303 Malcolm McIntyrehttps://www.blogger.com/profile/13853753441621982444noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-4083964616296981802014-09-24T22:29:06.794+10:002014-09-24T22:29:06.794+10:00Cheers for that, I'll have a lookCheers for that, I'll have a lookDr Benwayhttps://www.blogger.com/profile/07733149271772819325noreply@blogger.comtag:blogger.com,1999:blog-9214368411532770626.post-73727423756979916242014-09-24T11:45:40.026+10:002014-09-24T11:45:40.026+10:00Here's another one might be worth keeping an e...Here's another one might be worth keeping an eye on - CNX (Carbon Energy Limited). The usual negative earnings, negative cash flow, negative return on equity, & nearly 6x increase in shares outstanding since listing in 2005.<br /><br />And today a 300% ramp in share price, based on what I can see is a 23000% increase in 'probable' & 'possible' ie. nothing proven, gas reserves. Plus a recent Singapore 'investor' presentation....The Central Scrutinizerhttps://www.blogger.com/profile/09978484230689380341noreply@blogger.com