There will be a bank bail in in Australia

[billy the kid]

Waste of time talking to you....

[Juliar]

I think it is most unlikely any bank will fail because of the govt support. Which is your original claim.

And the govt only has to keep the lid on things for about 6 months when this virus crisis will be over when the vaccines come on line.

[billy the kid]

The bank Im talking about is insolvent.....

[Black Orchid]

I think ANY large amount is viewed with suspicion these days as it could be some sort of criminal deal involving drugs etc.

That's why the Govt is restricting large cash amounts because there is so much criminal activity going on these days.

That's cash transactions and I definitely oppose the government trying to stop that BUT any money we have in the bank is our own money and if we want to withdraw it and/or move it we should have the right to do that without any government interference.

I've been fiddling around trying to transfer money today and they don't make it easy but if I pay a $28 fee for a Telegraphic Transfer I think I can do it.

[Juliar]

Billy, which bank are you referring to ?

I would imagine the govt would quickly support any bank that was in danger to avoid the panic a bank failing would have on the jittery public resulting in a run on the banks.

There is a large cash economy which avoids tax and the govt is seeking to tap into this. Also drug money can be very large cash transactions.

$100 dollar bills are supposedly the preferred mode for crims and probably also the black economy and the govt was talking about cancelling these notes.

And no doubt there are very large sums transferred between China and Australia. Recall the Chinese bribes NSW Labor scandal ?

[billy the kid]

Well, you see Juliar….its like this....
The banks are failing now...that why the RBA is propping them up ......
That's why Hockey introduced his bail in legislation...
That's why the grubberment wants to ban cash transactions over $10K..
To give the banks more control over our money....
The crap about money laundering and the black economy is just that....crap....
I know its a bit hard for you to get your head around....but do try to keep up...
BTW if you cant fathom it all out, and you want to know the name of the bank Im referring to....
...why not just ask Gomer...or Scumo...or whatever your mates name is...
Don't ask Freakenberg...he wouldn't know how to tie his own shoelaces...….

[billy the kid]

https://www.news.com.au/finance/busines ... 678e200d1f

Covid 19...what a wonderful opportunity to remove the $100 note....but I digress......

[Juliar]

How can a bank go bust ?

The govt won't let any bank get into trouble even if they have to borrow internationally to do it.

All the govt has to do is keep the bank afloat for the next 6 months when the COVID-19 crisis will end when the vaccines come on line so it is not a long term thing.


What happens if your bank or lender goes bust?
Emma Duffy on March 18, 2020


Pictured: A bank run in the UK in 2007. Image by Lee Jordan via Flickr.

Have you ever wondered what would happen if your bank or lender went bankrupt?

The rise of non-bank lenders and in more recent times, neobanks, have had many people wondering exactly that because of the common misconception they aren’t as ‘safe’ as the big four banks.

Additionally, the unfolding coronavirus pandemic and its impact on the economy has got some people concerned about the security of their bank.

So what would happen if your bank or lender went belly up?


Read on here for a good explanation:-

https://www.savings.com.au/savings-acco ... -goes-bust

[billy the kid]

How can a bank go bust ?

The govt won't let any bank get into trouble even if they have to borrow internationally to do it.

All the govt has to do is keep the bank afloat for the next 6 months when the COVID-19 crisis will end when the vaccines come on line so it is not a long term thing.


What happens if your bank or lender goes bust?
Emma Duffy on March 18, 2020


Pictured: A bank run in the UK in 2007. Image by Lee Jordan via Flickr.

Have you ever wondered what would happen if your bank or lender went bankrupt?

The rise of non-bank lenders and in more recent times, neobanks, have had many people wondering exactly that because of the common misconception they aren’t as ‘safe’ as the big four banks.

Additionally, the unfolding coronavirus pandemic and its impact on the economy has got some people concerned about the security of their bank.

So what would happen if your bank or lender went belly up?


Read on here for a good explanation:-

https://www.savings.com.au/savings-acco ... -goes-bust

As I said....a waste of time talking to you...
Your link is full of absolute bullshit...the reference to the Government Guarantee had me rolling on the floor, laughing
my tits off....and the reference to how a bank can go bankrupt....guess what.... she says bankruptcy is caused
by a run on the banks....why does that happen.....a total lack of trust in grubberment and the banking system....
How do banks make money...by charging interest on credit cards...what if people don't pay their credit card debt
and go bankrupt...banks don't get paid....people go bankrupt because they are up to their bottom lip in debt....
Don't forget...whilst a big bank will fail....a lot of small banks will go under first...…
Waste of time explaining it to you....like talking to a brick wall.....

[Juliar]

Billy, you seem to be having a bit of a delusional trip and knocking and rubbishing all and sundry.

The article correctly explains what happens in real life.

But time will tell if your unnamed bank fails or not. I suggest it will not. Perhaps like a lot of other businesses it would as a result of the govt shutdown but the govt is propping up all businesses for the next 6 months.