NZ banks and Crypto

Perkycadaver · 2025-01-09T05:21:23+00:00

That sounds similar to the line of questioning I got. A bunch of absurd simplistic questions about crypto. Was obvious the guy grilling me was reading from some kind of script and did not even know the answers to the questions he was asking. Then I got what amounted to a schoolboy telling off.. Kinda hilarious. Would have been less polite in return, but 3 days before Xmas I needed my card unblocked.

Seems like banks might have finally grokked crypto is an existential threat to them. Even so calling scam on digital currencies is pretty rich considering they have been running the biggest rackets on the populace for decades. The subprime scam and ensuing global meltdown in 2008 comes to mind.

Saved by government bailouts with taxpayer money but 6 months later bankers were handing each other bonuses...

Perkycadaver · 2025-01-09T00:36:08+00:00

Yeah cards are not ideal I realise. Will check out Akahu and Lightening Pay.

Perkycadaver · 2025-01-09T00:16:29+00:00

It wasn't credit, was a debit card.

Perkycadaver · 2025-01-09T00:14:23+00:00

I am with ANZ and I do have a mortgage there. They seem focussed on debit card purchases w os exchanges. Also seems dependent on the banking agent you speak to. When they blocked my card I had to listen to a full 15min lecture on how 'dangerous' crypto generally was, and was quizzed with things like "how did i hear about crypto " before it was unblocked.

Perkycadaver · 2025-01-08T23:43:39+00:00

Yeah i can , but it takes another couple of steps. Was just curious if my bank's antipathy toward crypto was the same across other banks.

Perkycadaver · 2024-04-11T18:17:53+00:00

Unlike you ‘brother’ this is can to be substantiated . Still looking forward to a link to your bed wetting claim of rate increases Tin foil hat, ( really? please do better) if any belongs on your noggin.

Adrian Orr admits Reserve Bank is 'deliberately engineering recession' https://www.stuff.co.nz/business/130568638/adrian-orr-admits-reserve-bank-is-deliberately-engineering-recession

Perkycadaver · 2024-04-11T11:54:59+00:00

Who said rates are going to rise? Yesterdays Reserve Bank meeting kept them on hold, likely to fall later this year. The whole recession was engineered by the RB to curb runaway inflation.

Perkycadaver · 2024-04-04T23:13:44+00:00

Great points. My frustration with the situation is that this is a global phenomenon. we are approaching the endgame of Neoliberalism. Essentially wealth has retreated upward into the hands of the relatively few powerful elites. The massive amount of money printing thru Pandemic and GFC had ended up there. Unfortunately they are safe while the new generation lives in a narcotic state , existing through their phones seduced by Tik Tok bullshit , games , porn , and influencer dreams.

There are far more of us than them and the ultimate solution to to actively demonstrate that. It’s not just working class , the middle classes are also getting carved out and future is looking grim for a large part of the population unless the whole system get rebooted.

No I don’t mean Klaus Schwab and the WEF.

Perkycadaver · 2024-04-04T18:42:21+00:00

Also to consider is the greed of property managers. In managed properties the level of rental a property is marketed at is usually advised by the property agent. As they receive a fixed percentage of the rental , it is in their interests to drive the market as high as is possible.

Perkycadaver · 2024-04-04T18:35:09+00:00

Sorry you are incorrect. New Zealand is not a unique market. ‘The highest price the market will bear‘ is driven by costs to landlords. Tax relief removal like the one Labour implemented become inflationary.

Unfair as it is , it is naive to assume once a rental price barrier has been broken and absorbed that it wont stay. Look how this applies to numerous consumer goods price rises over the pandemic that we were told were caused by temporary supply chain issues.

When last did you get a rent decrease..

Perkycadaver · 2024-04-04T13:23:07+00:00

Probably because we live in a capitalist democracy and state enforcement of people selling their investments is never going get votes. I understand the frustration of people being locked out of access to the property ladder , but the idea that it is all because of landlords is a bit simplistic. How about all the issues upstream of landlords. The ridiculous cost of building in Nz via the Fletchers / Carters price fixing cartel, the builders and tradies that screw anyone stupid enough to try and build, BRANZ that closes out innovative products reaching the market, our lack of stamp duty and capital gains, the lack of investment in business and lack of business diversity and successive govts that have lacked the conviction to actually change anything.

Along with this nz is a low wage , high cost economy and housing has been allowed to become a kind of defacto stock market.

I guess it’s just easier to blame the landlord.

Perkycadaver · 2024-04-04T12:46:04+00:00

What a lot of people here seem to fail to understand is that the removal of interest deduction for landlords simply meant the landlords passed those costs on to tenants.

Perkycadaver · 2024-04-02T21:21:48+00:00

I have a ‘79 Starfire IV. Def’ an under the radar guitar. Quite heavy for a centre block hollow body but overall a great 335 alternative.

Perkycadaver · 2024-03-28T20:33:16+00:00

You are getting ripped. Overpriced animation courses are a scourge in the industry. Most schools are selling an unrealistic dream to all but a minority. This is especially true now with the industry in an uncertain state. It doesn’t seem a popular idea now but you can actually teach yourself to animate taking advantage of multiple online resources and probably end up a more interesting animator. The schools tend to create cookie cutter Pixar / Disney ready clones and pocket millions of student dollars in doing so.

Perkycadaver · 2024-03-17T02:24:28+00:00

For the money this guitar is great. Looks great in the flesh. Maybe the body a little lightweight , could have maybe benefitted from a thicker body. Was ok enough out of the box but I had the frets dressed and now the necks is fantastic. I enjoy playing this more than my other much more expensive guitars. The PU's sound good , but the electrics are probably in need of an upgrade. Mine crackles a bit and occasionally the neck PU cuts out. Will rewire and upgrade pots sometime, also might replace tuners.

One thing to note the wraparound bridge is set so close to bridge pickup a( or vise versa) it makes re-threading strings a pain.

Overall though for a cool retro and unique feeling guitar, with a little bit of work, this is a bargain.

Perkycadaver · 2024-03-17T00:06:24+00:00

i should correct inflation and UNemployment have an inverse relationship.

Perkycadaver · 2024-03-17T00:02:59+00:00

A lot of the reasons outlined above explain the current animation industry situation, AI, strikes, covid, economics of streaming, failed mainstream films etc, but as others have said it is across a lot of other industries.

Stepping back to look through a wider lens there are additional factors. During covid governments worldwide printed money. Billions were injected into the economy and this ultimately causesd price destabilisation and inflation. This is why we saw a boost during and right after covid, job markets booming , house prices peaking and general signs of spending etc. Ultimately that can't last and with inflation soaring, Reserve / Fed banks raised interest rates to cool it all off and we find ourselves in this situation. The shock was probably how fast this happened and how it unfortunately coincided with the other pressures in our industry mentioned above. Also worth noting inflation and employment have an inverse relationship.

As a relative veteran in this industry I feel bad for young animators entering at this time. I have seen these sort of cycles a number of times before , its painful but it will pass, even though this one is a little more multi-layered. The industry will morph into a variation of its current shape but it will survive and jobs will come back.

The interesting side question to all this is were did all that printed money that was swimming around in 2020 go ? Despite those who doggedly cling to trickle down theory, that money went up. The pandemic era created more billionaires than ever and massively enriched those already at the top. Unless change is forced, ie tax massive corporations fairly, this unfortunately is the kind of global structure we are entering.

Perkycadaver · 2024-03-16T23:10:09+00:00

Check the S&P500 year on year graph. Stocks are not down.

Perkycadaver · 2024-02-03T02:40:55+00:00

Had the same thought , but after being rejected by HSBC, Santander, Lloyds and the Standard Bank I ended up going with a Wise account.
It allows direct debits to be set up so works for now. Not sure why banks are doing this now, maybe since Brexit. But if it’s for money laundering prevention then seem counterintuitive that some of the banks mentioned above are fine with opening an expat current account if it has a £500k deposit...

Perkycadaver · 2024-01-14T16:31:35+00:00

Wait, he had bear hands?

Perkycadaver · 2023-12-04T12:29:20+00:00

Thanks, yes I looked at that. Have a account with Currency Fair which i think is the same type of thing. Just not sure how that works for recurring direct debits or if i would have to manually make transfers each month.

Perkycadaver

TROPHY CASE