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North & South magazine - cost of living

North & South magazine - cost of living

Old Mar 18th 2013, 9:33 pm
  #76  
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Default Re: North & South magazine - cost of living

Originally Posted by shocked kiwi View Post
Yes it is legal for the Nz banks to haircut your savings. Just ring up your local bank and ask them. ANZ told me that it would happen overnight without warning. If you have a term deposit or savings these are not guaranteed. And your bank will not pretend that they are if you call them and ask. Or read a book by Ian Wishart called "daylight Robbery 2012 edition" and he gives his findings on this. The Aussie owned banks will not bail the NZ banks either.
Oh, governments all over the world are trying to rob the normal worker of their savings to finance the losses of investors. How convenient for NZ that it has all the right tools in place already. Add to that the fact that the principle of irretroactivity of law doesn't seem to exist in NZ and nothing will be save here ever. Maybe we all should buy gold with our savings and bury it in our garden!
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Old Mar 18th 2013, 10:25 pm
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Default Re: North & South magazine - cost of living

Originally Posted by Assanah View Post
Maybe we all should buy gold with our savings and bury it in our garden!
Silver , actually. Keep up !
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Old Mar 19th 2013, 5:03 am
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Default Re: North & South magazine - cost of living

Originally Posted by davros1984 View Post
You can't compare UK Petrol to NZ Petrol.

UK unleaded is approximately 95 octane. Super Unleaded is typically 97-99 octane.

NZ unleaded is only 91 octane. Premium petrol in NZ is typically 95 octane.

So we get lower quality petrol here, hence the price is lower.
I said exactly this on here a few weeks back and was rightly (I think, on reflection) advised that the lower octane is a red herring. At the end of the day, because of the better climate (generally) NZ cars do not need the higher octane. Ultimately, it costs you less to fill up here (using a rough exchange rate of 2/1) which pragmatically speaking is all that really counts in making a price comparison...
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Old Mar 19th 2013, 7:30 am
  #79  
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Default Re: North & South magazine - cost of living

Originally Posted by shocked kiwi View Post
Yes it is legal for the Nz banks to haircut your savings. Just ring up your local bank and ask them. ANZ told me that it would happen overnight without warning. If you have a term deposit or savings these are not guaranteed. And your bank will not pretend that they are if you call them and ask. Or read a book by Ian Wishart called "daylight Robbery 2012 edition" and he gives his findings on this. The Aussie owned banks will not bail the NZ banks either.
Sorry, but I still think you're talking rot here. Just because a bank's deposits aren't guaranteed, this doesn't mean that the govt or anyone else can legally "take a slice". It just means that if the bank goes under, then you may lose your savings, or a proportion of them. Personally, I don't think the NZ/Aus govt would allow our big banks to go under, but that's just my opinion.
If NZ govt wanted a slice of bank deposits - effectively a wealth or capital tax - this would have to be introduced as law through parliament. I couldn't see it getting through parliament with the MMR system we have in place - again, IMHO

If you have any facts that contradict the above, please post. Along with examples of stuff that has doubled in price since 2008
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