yes its a great update thanks Snoopy. A few of the main points were clearly out of date especially regarding Rabobank, which is now a local bank standing on its own strength. So it has fallen to about the same rating level as the Aussie cartel.
I still use their cash facilities however they are not much if any higher returning than others , as per discussion recently in the Air NZ thread (of all places)
As I mentioned there the Govt Guarantee is gone and now replaced by Open Bank Resolution process. (Remember CYprus)
Re cash being a bull then yes its all a bit arguable when the number stays the same, but if you see that same number of currency units as being able to purchase more of the other asset classes then it has appreciated in value in those terms. It depends what you reference wealth in and I will concede that for most people this is the currency, as compared to say the number of shares one owns.
But remember when people used to refer to wealth in terms of income eg 'Mr Smith has three thousand pounds a year'.
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