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  1. #1
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    Default Coincidental or not?

    So the NAB had a "computer glitch" today and customers were unable to access funds until later in the day. Just like Westpac had a glitch. And ANZ and St. George.
    The timing of these glitches seems a little suspicious to me. They have occurred in the last few days of the month, or on the 15th of the month...lots of people get paid on the 1st and the 15th of the month.
    Do the banks have disaster recovery plans? Are they enacting those plans? Or are the "glitches" related to liquidity problems? It would be pretty easy to blame this on the IT guys, but I'm wondering if the real reason is related to problems with liquidity, or raising loans from overseas?

  2. #2
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    With absolutely no evidence to back this up, I would have to say that its a liquidity problem. Blaming it on the IT guys is getting a bit old.

    Disclosure: IT guy with a fang for VB (beer)

  3. #3
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    Default

    Kinda funny this happened today

    Morgan Stanley fund fails to repay $3.3 bn debt on Tokyo property
    15 Apr, 2011,
    Morgan Stanley fund fails to repay $3.3 bn debt on Tokyo property - The Economic Times

    TOKYO: A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone and other investors, the largest repayment failure of its kind in Japan...

  4. #4
    Senior Member Tulip Flipper's Avatar
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    Default

    Probably nothing too strange, but I have to say I got pretty cynical when I heard people complaining at work in the morning.

  5. #5
    Senior Member Demografix's Avatar
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    Default

    Cyber war.
    demografix - 'mining the minds'
    demografixfromoz.blogspot.com.au

  6. #6
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    Default

    Liquidity problems are to be expected.

    The idea that their system breaks down like this with monotonous regularity is ridiculous. They have more breakdowns than an amateur web site.

    The nominal figure for offshore borrowings by AFI's hasn't increased since the GFC.

    So the rate rises could only stop money fleeing and couldn't attract a net increase of funds.

    I'd say the hot money wants to leave Aus.

    The AUD will be plunging in the future.
    I reach for the Moon! But whoops I crashed London and NY? - Milton Friedman.

  7. #7
    Senior Member Demografix's Avatar
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    Default

    Quote Originally Posted by wulfgar View Post
    Liquidity problems are to be expected.

    The idea that their system breaks down like this with monotonous regularity is ridiculous. They have more breakdowns than an amateur web site.

    The nominal figure for offshore borrowings by AFI's hasn't increased since the GFC.

    So the rate rises could only stop money fleeing and couldn't attract a net increase of funds.

    I'd say the hot money wants to leave Aus.

    The AUD will be plunging in the future.
    Would you say back down to 65 cents by 2018, or what are your predictions?
    demografix - 'mining the minds'
    demografixfromoz.blogspot.com.au

  8. #8
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    Quote Originally Posted by Demografix View Post
    Would you say back down to 65 cents by 2018, or what are your predictions?
    The difficulty is falling against another mutant currency.

    I'd say most definitely that the AUD will be only buying half the amount of gold and oil in years to come.

    The currency to rate against after 2013 will be the Euro or gold.
    I reach for the Moon! But whoops I crashed London and NY? - Milton Friedman.

  9. #9
    Senior Member Demografix's Avatar
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    Quote Originally Posted by wulfgar View Post
    The difficulty is falling against another mutant currency.

    I'd say most definitely that the AUD will be only buying half the amount of gold and oil in years to come.

    The currency to rate against after 2013 will be the Euro or gold.
    Master Wulgar
    Make a prediction, as no one will hold you to it, I am sure.....
    demografix - 'mining the minds'
    demografixfromoz.blogspot.com.au

  10. #10
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    Quote Originally Posted by Demografix View Post
    Master Wulgar
    Make a prediction, as no one will hold you to it, I am sure.....
    I predict the end of the USD as the major world reserve, most likely if opec chooses another currency.

    In theory the USD would fall dramatically but I suspect instead the US will adopt exchange controls. Australia might do the same. Watch out if you think a long term USD short is a good bet.

    In the longer run I'll go for the AUD at 125 cents years ahead. But this year will peak at 110 cents.

    I suspect the ECB will strongly buy other currencies to keep the Euro from getting too strong.

    The game is rigged by the house, don't gamble.
    I reach for the Moon! But whoops I crashed London and NY? - Milton Friedman.

 

 

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