Been an interesting few months away in Europe. But now I am back and can contribute once again.

The roll-on effect has not hit here yet......MR BOLLARDS. But it is very apparent in Europe, particularly England.....very BROWN over there......more a shade of RED..

Back to the point at hand.

I am one of those Churners. I remove most of my assets away from RABOBANK and other at risk BANKS....IT was I who made the figures stand out. (OUTSTANDING??)

Why would anyone leave any asset at the mercy of the BANK that now gives the least return, but perhaps the most perceived risk is beyond me.

And that is currently RABOBANK (NZ), here in Sunny New Zealand.... in my opinion.

No matter that they have a bigger bank behind em....

Whilst I am not currently happy with any return from any BANK in NZ, it appears to me strange that the RURAL BANK they professed to be ... over lent to the already heavily indebted COCKIES based on one GOOD YEARS earnings.

This is frankly compounding a situation that was already fraught with risk, so just throwing good money after bad if you get my drift.

Hence why they now give one of the lowest return rates in NZ to improve their own future returns......(IF ANY)....at the expense of their very Clients who invested their hard earned cash.

The Fonterra Bonds and Rabobank aid in on-selling was the first indication of the trouble we all face here in God's Own. A total reliance on the Dairy Industry, come what may.

Getting your own money back reduced in value in the future at the expense of keeping the Dairy Industry going is not part of my investment strategy.

Likewise most of the other NZ BANKs with an exposure to the Property/Building Industry bubble.

Whilst we are still attracting overseas funds to prop up this fiasco, MR BOLLARDS will just sit on the sidelines with his digit buried.

(Plagiarism is my forte...Many thanks...I liked that image whoever you are.....I read too much to remember, trying to catch-up with the play).

Long may MR BOLLARDS Hope and Wish for a swift resolution....

500k P.A. is worth hanging on too...eh....wish and hope I had that.

Like the Nats.... the ENGLISH have a KEY man too......A MISER......MR.BROON.

The names have been changed to protect the ineffectual.

Still we are back in the BLACK..today....not BROWN....like UK.....so KEY can tell that to the YANKS.

YIPEE....

Yeah: My parents have commented that previously Kiwibank or BNZ (as two examples) would quietly match the best rate rather than see them move, now my parents have noted that they pretty much have to move their $ every time. So there is a war on deposit rates? I wonder....

Poaching certainly seems rife....there must be enough stiction about for the banks to feel safe not to worry about losing customers, but worry more about new ones I mean if you are a salesman you I assume get a % if you get a new customerm you dont lose that if a customer walks....so who's best interest is the work in? the bank or the bank's employee?

Also while mentioning Kiwibank, previously they always kept their mortgage rate 0.25~0.5% below others, now its on par....so maybe we are entering a new era, where we have to move mortages every time as well....it might also indicate that overall margins really are tight ie floaters are paying for losses elsewhere...

regards

Quite right all, move the loot and stay short. Keep them worrying and expect dep rates to rise.

Maybe I was a little hasty, but it has dissappeared from their web-site too.

Quite right Bernard..AAA.....but I still stand by my remarks. It is where they have funds that bother me.

I did point out that it has parent bank RABOBANK behind it, but not in so many words.

RABOPLUS used to be my major bank. However it no longer is and no longer offers a rate of return that is satisfactory. I have pointed this out to them personally.

We are not all so blinded as we may appear by rhetoric.

Some of us are doing our utmost to survive this downturn, with OUR own money intact.

I am just a sore-loser, hence my Nom de Plume..... With a longer term strategy now.

At least I use my money....not someone elses.

Maybe we would not be in this mess is everyone took that stance.

Not the same article that they first put out. That was about CHURN ...ie moving accounts to different banks. That is what I was commenting on.

That article has not re-appeared on RABOPLUS...at least I cannot see it.

Also RABOPLUS did not publish my comments in their attached blog...either., but appear to have removed the article.

In light of the CRAFAR recent blogs and the like, I stand by my comments even more.

New Zealand Farming is in a very parlous state. Not of my making....and certainly not where I want my hard earned money invested with no DIVERSIFICATION.

I stand corrected. My comments are there now on Raboplus.

In my defence the article was not on the RABOPLUS blog when I looked.

Maybe I am just a PARANOID sore-loser. But I do not think so....

I do have MONEY invested like many elderly....and that I am PARANOID about.

I still stand by my comments, however.

I will CHURN any funds I have away from those BANKS at risk due to their over reliance on one FACTOR of a market.

Ask the CRAFARS if they DIVERSIFIED....aided and abetted by Their BANKS.

By the way, it is not just this one BANK that I have issues with. They are legion.

Hence why the World is in the mess it is in.

Many of the BANKS are at risk...but so are we all, because of their actions.

I will take action and point out ANY miss giving I have on this BLOG site.

By the way, Bernard has done the right thing about the CRAFARS, even though it involved one of his sites SPONSERS...... Raboplus.

Somebody has to point out the dereliction from their OPERATION, on all scores.

Even if Bernard does not agree with my comments on here I cannot fault him on what he has done on that score.

It was inevitable that they would fail, based on my personal observations over the years.

Unfortunately all those involved, in supporting this crew including those who did NOTHING should all be ashamed of their actions.

This BLOG is about INTEREST and MONEY matters.

Money matters From ALL aspects.

MY contributions as a SORE-LOSER may be tongue in cheek sometimes, but with just a large hint of TRUTH from my perspective.

I just hope we do not all become SORE-LOSERS over this World fiasco.

This site and its BLOGS help me become better informed on all aspects of FINANCE.

We must not exclude the Humanity from it too.

MONEY MATTERS not a jot if we lose sight of that.