Comments on: Jamie McIntyre Says "Make Australia Post a Government Bank to Compete Against The Big 4 Banks" http://jamiemcintyre.com/jamie-mcintyre-says-make-australia-post-a-government-bank-to-compete-against-the-big-4-banks/ Jamie McIntyre Blog and updates from 21st Century Education providing a modern day education for life Sat, 04 Feb 2012 09:24:56 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Henk Ballast http://jamiemcintyre.com/jamie-mcintyre-says-make-australia-post-a-government-bank-to-compete-against-the-big-4-banks/comment-page-1/#comment-32 Henk Ballast Fri, 19 Jun 2009 03:47:04 +0000 http://jamiemcintyre.wordpress.com/?p=297#comment-32 Agree, it's in line with art 51 of the Australian constitution which states that money creation is the prerogative of the Federal government through the commonwealth bank They should never have given this constitutional privelege to the private banks who now create money out of nothing and loan it at interest rates. It explains why we live in an age of plenty and yet everybody is in debt. It has subjected the Australian people to modern slavery ever since. Agree, it’s in line with art 51 of the Australian constitution which states that money creation is the prerogative of the Federal government through the commonwealth bank

They should never have given this constitutional privelege to the private banks who now create money out of nothing and loan it at interest rates. It explains why we live in an age of plenty and yet everybody is in debt. It has subjected the Australian people to modern slavery ever since.

]]> By: Denis Kristanda http://jamiemcintyre.com/jamie-mcintyre-says-make-australia-post-a-government-bank-to-compete-against-the-big-4-banks/comment-page-1/#comment-34 Denis Kristanda Mon, 15 Jun 2009 22:57:18 +0000 http://jamiemcintyre.wordpress.com/?p=297#comment-34 I agree with Jamie: creating a decent competitor for big 4 bank is the way to go. More education is needed to general public that: a bank, like other business entity, have a sole purpose to make profit for their shareholder and will not give a shit about welfare of people. (Compare it with your own business, profit is the goal) This is on of the fundamental principle of economics that runs the world. So, unless regulated by government (which mean affected the competitor as well) - bank will only act to improve their bottom line and critisize them will only show that you don't understand how economics work. But creating a gigantic competitor like Australia Post is a very interesting idea... It will threaten the market share of the banks and in turn they will need to be more competitive or lose market share... I agree with Jamie: creating a decent competitor for big 4 bank is the way to go.

More education is needed to general public that: a bank, like other business entity, have a sole purpose to make profit for their shareholder and will not give a shit about welfare of people. (Compare it with your own business, profit is the goal) This is on of the fundamental principle of economics that runs the world. So, unless regulated by government (which mean affected the competitor as well) – bank will only act to improve their bottom line and critisize them will only show that you don’t understand how economics work.

But creating a gigantic competitor like Australia Post is a very interesting idea… It will threaten the market share of the banks and in turn they will need to be more competitive or lose market share…

]]> By: Anthony Shaw http://jamiemcintyre.com/jamie-mcintyre-says-make-australia-post-a-government-bank-to-compete-against-the-big-4-banks/comment-page-1/#comment-33 Anthony Shaw Mon, 15 Jun 2009 21:45:47 +0000 http://jamiemcintyre.wordpress.com/?p=297#comment-33 Totally agree Jamie - the banks continually make record profits and are always crying poor mouth. The government and the RBA have no power at all when it comes to controlling the interest rates that banks charge. The banks need more competition and some form of indirect control mechanism to keep them honest. Turning Australia Post into a government bank is a great idea and I can’t believe it hasn’t been thought of before. Wether or not it will have a major impact on the big banks though is yet to be seen. Regards Anthony Totally agree Jamie – the banks continually make record profits and are always crying poor mouth. The government and the RBA have no power at all when it comes to controlling the interest rates that banks charge. The banks need more competition and some form of indirect control mechanism to keep them honest. Turning Australia Post into a government bank is a great idea and I can’t believe it hasn’t been thought of before. Wether or not it will have a major impact on the big banks though is yet to be seen.
Regards
Anthony

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