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A SHORT LIVED RECOVERY ?

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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 8:54 am

Robin Hood wrote:Paphitis:
It beggars belief why a sovereign country would abandon such important rights in the first place.

Our printers are running 24/7 right now.


If you are creating this money, even in Australian Dollars, as has been the financial practice since the mid 1800's, then it is all currency borrowed from Private Banks who are creating it against Government Bonds ..... i.e. IOU's ....... it matters not whether it is a sovereign currency or a currency like the USD or the Euro, in the end it is simply debt creation and the Banks get the interest ...... which you also have to borrow .... from the same Private Banks. :roll:

Now dump the Private Banks out of the process and let the Aussie Central Bank create all the Aussie Dollars you need directly and you then have no debt and thus zero interest to pay, as the source is both borrower and lender! :roll: :wink:


Our interest rate right now is 0%. Our Government owns the Reserve bank, and our mint.

Government is giving out loans at 0.25%

We have a lot of money in they bank at the moment with our sovereign funds and our government has just increased the stimulus package to 189 Billion.

Welfare has just been made non asset tested. So if anyone loses their jobs, they immediately qualify for newstart.

They have announced a pause on all mortgages.

They have said that no Australian Family will lose their home and no Australian business will go bankrupt. Every business is entitled to a loan at 0.25% to pay their leases and staff.

It is apparent to me they are planning a national shutdown and are easing us into this. Which means cafes, restaurants, schools, businesses will close and everyone will be staying at home.

2 states have now also shut their borders. I just got a notification to be tested for Coronavirus because of my recent movements from the eastern States. I've been told to isolate myself until I am tested tomorrow and for 3 days after that which is when I get my result. If I am positive, my entire family must be tested as well.

So currently sleeping in my man cave and have a few essential supplies of Beers. 8)
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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 9:15 am

Some schools have been closed. All schools in Victoria have closed.

Our school, where our children have been attending have been for the last 2 weeks implementing their online infrastructure. Out children our now doing everything online through online portals, and apps. So they are preparing to shut down.

We are moving towards a lock down very fast.

The Government has come under some criticism for not acting fast enough but they have come out to say there are 2 sides to this equation. One is the health issue and the other is the economic impact. Australia has been concentrating on the economic side because if the country locks down, the last thing we need is for small, and medium business to be unable to pay their leases and wages, and for families to lose their houses in 6 months time.

There will of course be repercussions for crime and law and order. So mortgages are on pause and business are able to get hold of free money which they will need to pay back later on.

The other elephant in the room is that our War Cabinet has also been activated. What that means remains unclear to everyone apart from them saying it has been activated. Are we at war? Well who knows. It could be that our military is also preparing for a much bigger role on our streets like in Spain.
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Re: A SHORT LIVED RECOVERY ?

Postby Londonrake » Sun Mar 22, 2020 12:52 pm

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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 1:28 pm

Londonrake wrote:https://www.theguardian.com/world/live/2020/mar/22/coronavirus-updates-live-australia-nsw-victoria-qld-tasmania-cases-government-stimulus-latest-update-news

.


Expect schools to shut down this week, all over Australia.
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Re: A SHORT LIVED RECOVERY ?

Postby miltiades » Sun Mar 22, 2020 3:41 pm

Paphitis wrote:
Londonrake wrote:https://www.theguardian.com/world/live/2020/mar/22/coronavirus-updates-live-australia-nsw-victoria-qld-tasmania-cases-government-stimulus-latest-update-news

.


Expect schools to shut down this week, all over Australia.

Schools closed in Cyprus 2 weeks ago.
By the way I have discovered an antidote to the C virus. Top secret !! I named it
BoRed.
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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 4:01 pm

miltiades wrote:
Paphitis wrote:
Londonrake wrote:https://www.theguardian.com/world/live/2020/mar/22/coronavirus-updates-live-australia-nsw-victoria-qld-tasmania-cases-government-stimulus-latest-update-news

.


Expect schools to shut down this week, all over Australia.

Schools closed in Cyprus 2 weeks ago.
By the way I have discovered an antidote to the C virus. Top secret !! I named it
BoRed.


Unfortunately for you Miltiades, they haven't found a antidote to stupidity.
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Re: A SHORT LIVED RECOVERY ?

Postby miltiades » Sun Mar 22, 2020 4:29 pm

Paphitis wrote:
miltiades wrote:
Paphitis wrote:
Londonrake wrote:https://www.theguardian.com/world/live/2020/mar/22/coronavirus-updates-live-australia-nsw-victoria-qld-tasmania-cases-government-stimulus-latest-update-news

.


Expect schools to shut down this week, all over Australia.

Schools closed in Cyprus 2 weeks ago.
By the way I have discovered an antidote to the C virus. Top secret !! I named it
BoRed.


Unfortunately for you Miltiades, they haven't found a antidote to stupidity.

When you reach my age , 74, you may just realize what an absolute Plonker you have been. You may even refer to some of your posts on the CF, particularly your input on the Syrian war, your hatred of Putin which is much more intense than Isis, not forgetting your statement that World war 3 isn't that a bad idea, also your description of Trump as an idiot ( about the only thing you were right) your ....tax deductible loans and much much more crap. What Plonker !!
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Re: A SHORT LIVED RECOVERY ?

Postby Robin Hood » Sun Mar 22, 2020 4:46 pm

Paphitis.
A few corrections ........ assuming that Australia is following the same path as most of the other announced State settlements such as in the UK. You should read the small print instead of just the headlines in the press!
Government is giving out loans at 0.25%

Governments do not give loans Banks do! The Central Bank only determines the base interest rate.
We have a lot of money in the bank at the moment with our sovereign funds and our government has just increased the stimulus package to 189 Billion.

You have a growing national debt of currently A$452,500,000,000 ..... and you say, have just apparently added another A$189bn
Welfare has just been made non asset tested. So if anyone loses their jobs, they immediately qualify for newstart
.
With a small grant if you qualify and a loan from the Private Banks .... supposedly underwritten by The State,..... more private debt!
They have announced a pause on all mortgages.

The Banks will not be able to default you if you cannot pay ..... they defer re-payment but you still accumulate compound interest i.e. your debt increases daily. When your time runs out ..... they will foreclose if you cannot pay your debt.
They have said that no Australian Family will lose their home and no Australian business will go bankrupt.

At the moment ........... all they have done is defer the consequences of failure to meet the mortgage terms and the terms that determine bankruptcy are also deferred so that proceedings against the defaulter are delayed.
Every business is entitled to a loan at 0.25% to pay their leases and staff.

Another private loan ........... but only if the business meets the Banks loan requirements and that requires the means to repay and the collateral to support it.

You live in cloud cuckoo land ....................... :roll:
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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 10:58 pm

miltiades wrote:
Paphitis wrote:
miltiades wrote:
Paphitis wrote:
Londonrake wrote:https://www.theguardian.com/world/live/2020/mar/22/coronavirus-updates-live-australia-nsw-victoria-qld-tasmania-cases-government-stimulus-latest-update-news

.


Expect schools to shut down this week, all over Australia.

Schools closed in Cyprus 2 weeks ago.
By the way I have discovered an antidote to the C virus. Top secret !! I named it
BoRed.


Unfortunately for you Miltiades, they haven't found a antidote to stupidity.

When you reach my age , 74, you may just realize what an absolute Plonker you have been. You may even refer to some of your posts on the CF, particularly your input on the Syrian war, your hatred of Putin which is much more intense than Isis, not forgetting your statement that World war 3 isn't that a bad idea, also your description of Trump as an idiot ( about the only thing you were right) your ....tax deductible loans and much much more crap. What Plonker !!


Are you referring to your posts about Brexit and Boris Johnson yet?

I am very fine and proud of my posts about Syria. I still maintain that Assad is one of the biggest criminals that ever walked the face of the world and on par with the biggest such as Stalin and Hitler. And with others like Erdogan not far behind.

He is responsible for the destruction of Syria. he has ultimate responsibility.
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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Sun Mar 22, 2020 11:04 pm

Robin Hood wrote:Paphitis.
A few corrections ........ assuming that Australia is following the same path as most of the other announced State settlements such as in the UK. You should read the small print instead of just the headlines in the press!
Government is giving out loans at 0.25%

Governments do not give loans Banks do! The Central Bank only determines the base interest rate.
We have a lot of money in the bank at the moment with our sovereign funds and our government has just increased the stimulus package to 189 Billion.

You have a growing national debt of currently A$452,500,000,000 ..... and you say, have just apparently added another A$189bn
Welfare has just been made non asset tested. So if anyone loses their jobs, they immediately qualify for newstart
.
With a small grant if you qualify and a loan from the Private Banks .... supposedly underwritten by The State,..... more private debt!
They have announced a pause on all mortgages.

The Banks will not be able to default you if you cannot pay ..... they defer re-payment but you still accumulate compound interest i.e. your debt increases daily. When your time runs out ..... they will foreclose if you cannot pay your debt.
They have said that no Australian Family will lose their home and no Australian business will go bankrupt.

At the moment ........... all they have done is defer the consequences of failure to meet the mortgage terms and the terms that determine bankruptcy are also deferred so that proceedings against the defaulter are delayed.
Every business is entitled to a loan at 0.25% to pay their leases and staff.

Another private loan ........... but only if the business meets the Banks loan requirements and that requires the means to repay and the collateral to support it.

You live in cloud cuckoo land ....................... :roll:


Our Government is underwriting all the loans, and our Government does give loans. It's been doing that for decades now.

For example, university loans to pay university fees to be paid through the Higher Education Scheme.

Our National Debt is one of the lowest in the world. So no, we don't have a debt problem. And we are heavily backed up by our Sovereign Wealth Fund which is more than our debt and the Private Super Scheme which is worth 4 Trillion.

Our finances are healthy. Our economy is about to tank but that is only because we have been gradually shutting the economy down over the last 2 weeks and are headed for a complete lock down.

Our Government has done a lot of things, and thir actions are quite innovative from what I can see and compare to the rest of the world.

In fact, we are as a country the arch Communist State. The have gone full Socialists. Our Government has rolled out plans to protect home owners and businesses. Not bad for a Trump mini me.

I have not heard of another country press a "pause button" on mortgages and give out loans to business to ensure no business need to hit the wall towards Bankruptcy. And the 189 Billion worth of stimulus is massive.

There are even talks that the Government will release super funds and allow people to access their super - another 4 Trillion available.

So as our Government has already said. There really is no need to panic and people should look after their health and not worry about money. No one will be left wanting in Australia. Australia is the best country to face this country. It's the best country to be in when times are good, and especially in times of international crisis.
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