Testing the new registration and the edit function (!)

And putting in  alink

http://earlywarn.blogspot.com/2010/08/labor-force-loses-half-million-wom...

cheers

Bernard 

Test

My family joined Kiwibank because it was NZ owned and the rates were good. If Ralph Norris and his Business Rount Table mates get their sticky mitts on it, we'll just take our business back to the TSB with whom we still have  an account.
 

As one of 4m shareholders of Kiwibank, unless it can show evidence of an acceptable return, within an acceptable period, I want it sold ! We have enough social welfarism without extending it to our banks- lets be honest about what we subsidise - If some people can't afford a bank account, or a mortgage or deposit rate that keeps our banking system secure and able to help facilitate future growth within NZ, lets be open about how much its costing thr taxpayer

Dubious point of view from Ralph.  My understanding is that Kiwibank is generating enough profit for its own capital needs - just not to meet those needs and pay a dividend to the |national Governemnt at the moment.  New entrants to a well-established market tare typically capital hungry in the early years - there is nothing new in that.  Most sensible shareholders are aware of that and allow for that in their own expectations with regard to dividends.  The rewatrds are reaped in the longer term.  Could it be that Ralph has a vested interest in seeing Kiwibank  hamstrung?

Mr Norris, It's OUR bank so shove OFF!

The trouble with talking about and assessing bank profits - kiwibank, CBA or otherwise - is that it can only really be done in hindsight. 

Surely the crash of 2008 has taught us the the banks are far too quick to recognise profits but don't accurately record the risks that are building up in their business models.  The profits are paid out on an ongoing basis largely to employees in the form of outsized pay packets and if the hitherto masked build up in risk bursts (as would be the case if the bottom falls out of the Aussie property as per Steve Keen) then not only are that current years profits wiped out but so are the shareholders and the govt and johnny taxpayer is forced to step in. One can only realistically conclude that the banks under provisioned for this sort of loss and hence weren't nearly as profitable as they thought.

The Banks are the problem, not the solution.

Until we get that right, she'll be right....yeah...RIGHT.

A wee bit like a certain BANKS in Auckland.

Delusions of adequacy.....one and all.

And the last comment is the same one....as always.

Wakey-Wakey NZ.

You is being ROBBED.

Looking forward to a real TUI...on my return...from the big wide world.

Europe is stuffed...even BROWN cannot sell a BOOK.

And he is the SAVE-IOUR.........of the WORLD. (He says).

Another with DELUSIONS.

Capital...I say.....

But then ...I always did.

Join the dots....

I think that what Mr Norris does not want to say is that this bank is on the hook of margin calls of betts gone wrong in trading. Be interesting to see a disclusure of their trades in the Aussie/Kiwi crossing... Banks trade Private equity on a regular basis in an effort to improve their income. Lending has lost importance in the modern banking sistem, the problem with that is that it opens the door to highly leveraged/risky exposure where the capital of the bank ends up following a dangerous money management  path and when the red warning lights go off it is to late to exit the trades and boom another bank goes belly up... with consecuences for the rest of the markets that we have all seen in the recent past. For some  reason the modern Banking sistem wants to keep on engaging in these operations. But because traders do not trade their own money and  because the incentives are so huge they just keep on taking risk. The US sanate tried to regulate but they where unable .

In the worst case scenario a trader looses his job while the bank looses it's capital

Its a teeny bit dull on here as we await  a minty 10@10.

Heres some Daily Mash on "stimulation" to cheer you up.

BANKERS GET ANOTHER �50 BILLION TO RUB AGAINST THEIR GENITALS

BRITAIN'S bankers were last night handed another £50bn in crisp notes to rub all over their naked, trembling bodies.

The Bank of England agreed to the new round of quantitative easing after bankers said the last lot had gone all soggy and had to be thrown in the bin.

Bank governor Mervyn King said: "I just print the stuff. It's none of my business what they do with it.

"My personal view is they should lend it to you so you can buy one of those big American fridge freezers with the double doors and the ice dispenser.

"But there's really not much I can do about it if they just want to keep it all in a big room where they can get naked and use it to stimulate their engorged, quivering glands."

A spokesman for the British Bankers Association said: "These £20 notes are too absorbent. After a good hard rubbing session they just fall apart in your hands.

"We need something tough and durable with a moisture resistant coating, like the Euro. Although it has to be said, many of our senior executives do still prefer to rub themselves with an Asian currency."

He added: "No doubt some people will be angry that bankers are being given free money and then using it for genital stimulation, but what's really bugging them is the fact they didn't have the foresight and intelligence to set up a major high street bank and then run it in to the ground."

Bill McKay, from the London School of Economics, said: "The Bank of England is either trying to stimulate the economy or destroy it. It's still too early to tell.

"But at least the bankers have had some really intense rubbing sessions, so it's not been a total waste of time."

In the credit crunch the Aussie banks kept their interest rates low in Australia, but raised them in New Zealand.  They are not NZ banks, and they would happily roast kiwis over a slow fire if they thought it would help their long term profits.

Kiwibank is such a threat to the Aussie 4 dominance. Seems ridiculous now but give it another 5 to 10 years of Kiwibanks unique KIWITHINKING and it will be.

Their fees may be low Mr Norris which may provide difficulty in capital but it doesn't find difficulty in winning customers. This has you worried it seems.

They are the world first to produce a prepaid VISA card which you can load with FIVE different currencies - world 1st. Loaded for Travel. Good kiwithinking eh My Norrie

They offer competitive rates for both Term Deposits and Mortgages. A good value bank. That's good kiwithinking eh Mr Norrie

Now here's the real kicker. They don't lend money to people very easily, their criteria is quite a bit tougher than ASB or CBA Mr Norrie. You may think you have loads of capital Mr Norrie but you are going to need it soon you know, bad debts are a bugger.

Doug,

I suggest you study a bit of history, the three times previous in NZ history that the mischiefly named Bank of NZ has been bailed out, it has been the taxpayers bailing out the private owners who ran the bank into insolvency for private gains by issuing excess liquidity of created credit than the real economy could support, study the actions of gentlemens Russell and Whitaker and their impact upon race relations and social development of NZ, ring a bell Doug?. The only time the taxpayers have previously taken a stake in BNZ was to bailout private owners. Fay and Richwhite jumped in at the interim point of one of these bailouts, making out like whiteknights, and making off with a mint.

Have a gander at below link Doug, and get back to me

http://publiccreditorbust.blog.com/2010/02/17/bankers-impact-upon-new-zealand-race-relations/  

If Kiwibank customers love the bank so much..why don't they deposit their savings for less than they could get elsewhere and offer to pay more in interest on their mortgages than they would pay elsewhere...you would wouldn't you Parky?

Why don't you explain to readers why the govt does not use Kiwibank as the govt bank...

How's that mortgage going Parky....all paid off yet?

Wally, Roger,

You boys are like the priest and bishops of the old Holy Roman Empire, who wittingly or unwittingly, in its closing struggles, to maintain their massive commercial pyramid scheme of tything that would take the last coin from a starving worshippers whilst the administration lived in opulence, who kept spewing the indoctrination needed to keep the peoples confidence in the confidence trick even though the advent of the printing press had finally given one Martin Luther(16th century) the means to present the irrefutable evidence in a wide enough forum to motivate wider society to stand up for itself in what became the Protestant Reformation.

The administration ordered the burning of the books that Martin Luther was writing and printing in the recently invented industrial printing presses, but the movement went on to become a widespread struggle for increased individual human rights throughout the European influenced regions. Sadly the modern private banking con job pyramid scam has largely wiped out any hope of a true economic system of equal-opportunity. The internet has today replaced the printing press as the revolutionary technology that has circumvented the indoctrination processes used to support the latest and greatest con job pyramid scam in history. The designers, controllers and benefactors of that scam are trying desperately to get official sensorship of the internet, Wally and Roger, I suspect would gladly pour petrol on the mounting evidence appearing on the internet, and set it alight.  

The Gold Standard involving a Fiduciary issue of representative money as interest bearing credit supposedly convertable to something of intrinsic value was as much a monopolist con job pyramid scam as the current full Fiat money system based entirely on confidence being maintained that the issuer of credit with compound interest attached actually has something of intrinsic value in consideration of their side of the contract. 

The re- instatement of the Gold Standard would simply be changing from con job pyramid scam to con job pyramid scam.

Wally, you tell me why the government revenues cant simply from today be depositted in a government account set up for it at Kiwibank?

 "In honour of John A Lee, in pursuit of the diplomatic revival of common decency and equal opportunity economics".....that pretty well sums it up......public social credit is all about socialism....and socialism is all about thieving from those who have to buy votes from the rest.

I have to go attend to real world duties now, will be back when I have completed the most complete history of the New Zealand Labour Party ever compiled.

I hope, Wally, it might answer your questions, doubts and accusations.

Wally, we live and learn everyday, I now understand fully the difference between    

Productive Public Credit issued as Primary Monetary Base in the public interest without compounding interest attached. To make available as a public service the necessities of life supplied by nature, within the boundaries of sustainability as were the founding ideals of the International Labour Movement and the New Zealand Labour Party and the parts of later arrived Social Credit Movement that I now concur will be as inflationary as the current private banking con job.

I am most definitely and will always now remain an advocate of 'True Labour' and its very founding ideals that are even more needed today than ever for the very same reasons. 

Goodluck to you and your families.

You are in need of some serious help Parky!

Ian - Kiwibank doesn't have the infrastructure to service the NZ Govt's requirements, plain and simple, and well known. Maybe in years to come, but unless they can get some profitablity and warrant further capital to produce such infrastructure, they'll never win that business

Adrian - if you under price your product, don't earn acceptable return over time, you get sold. Exactly what happened to Trust Bank when the Community Trusts got frustrated with their years of substandard returns - their customers loved the low prices but the shareholder didn't. Also, remember that whilst their Australian senior management have an input, the NZ Aussie owned banks are run by Kiwis and as such as not immune to good Kiwi ideas. Norris is a Kiwi by the way as you know !

KiwiDave - you mean Kiwis will borrow less ?  I don't blame the banks, I blame us - I guess if we keep borrowing out of line with economic growth, their profits will be out of line with the normal ratios. That will apply right up until we borrow ourselves into the ground, banks take substaintial bad debt losses, and that ratio normalises - seems like a cycle to me ?

Not enough profit Ralph?

Not feeling the love from fellow Kiwi's?  (probably not liking the new adds either are you?)

When you bank with the Aussies and ask anyone that has their head office in AU - we're treated worse than the poor cousin - we'll we don't get that from OUR Kiwi Bank ...   they'll have all my business and savings ...until they sell out to foreigners!!

Ask your senior managers what its like working in NZ for an Aussie bank...  you may jus find many frustrated leaders....  while your their why are they Aussie counterparts doing the same role worth so much more for teh same work???

Dare you to respond Ralph!

I have nearly completed one of the most rewarding and interesting tasks I have ever undertaken.

I have nearly completed a very comprehensive study of the founding of the international labour movement and that of New Zealand. What I have come up with gives the average New Zealander a perspective of where we sit in the wider scheme of historical events.

I hope that any true patriot of NZ will find it interesting from end to end.

Ralph Norris might want to have a read and learn a little about the minority shareholders that control the majority of shares in his institution.

http://publiccreditorbust.blog.com/2010/08/04/influence-of-international-banking-pyramid-scheme-upon-the-founding-ideals-of-the-international-labour-movement-and-the-new-zealand-labour-party/