Losing $300K from the REMI collapse

#Finances #Collapse #HeiseSays
Investors are losing hundreds of thousands of dollars in the REMI capital collapse.


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  1. The advantage with off set accounts, is the interest is tax free, if you put the same amount of money in shares, the return is taxable. If you have a mortgage, and some savings, offset accounts are the way to go for most people.

  2. Yeah … let's all agree to get arrested if we don't hand over over our own money under duress to banks / investment firms ???? Some Libertarian you are Heise. Go back to the drawing board. You sound like a card carrying authoritarian / commie.

  3. Good stuff again Florian, the reason the Victorian government felt committed to the Pyramid bail out was because the state treasurer Jolly sent letters to Pyramid account holders assuring them their money wàs safe after rumors of financial issues In the weeks leading up to the doors closing, the bail out came after multiple suicides by account holders and threats of lawsuits against the government.

  4. Whenever I hear the radio commercials for these investment companies play on the radio, the Estate Mortgage commercial with the giraffe eating leaves from the top of the tree plays in my head. That was 1990 and this isn't going to end any happier for these people than it did for the Estate Mortgage investors.

  5. Recovered from post GFC loss tens of thousands investments only just breaking even in early January 2022. I quickly diversified it all to protect it all from another GFC. Only lost a fifth of what I could have lost.

  6. A lot more to come the end result of super low cash rates and people searching for a reasonable return and not understanding the risk of investments, Back in the day when I had a 17% home loan I had a offset account when I set it up it was explained to me was the amount in the offset account would be deducted from the home loan before the interest was calculated. It didn't work that way they calculated the interest on the saving account at the savings rate and deducted that from the interest on the home loan, so I kept a small reserve in my savings and paid off the home loan as fast as possible that meant driving around in a old hand painted ute but a car loan was 32% and I refused to pay that.

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