Past President (a very long time ago) Peter Don started the meeting. President David's vehicle had been immobilised by a puncture on his way so he was unable to preside over the meeting. 

 

Apologies President David (obviously)Ted (taking his car to the panel beater, not his fault!) Ingrid, Greg (off to places north) and Colleen. 

 

Long term member Jim Staples has now departed for Adelaide. There was discussion on whether we would see him when he returns to renew his superannuation rights!  

 

Sargent David had a wound on the bridge of his nose; he claimed that he's walked into a screen door! He marked that there was (were?) 100 days to go before the Women's World Football Cup. That bought a yawn of indifference! (Sexist mob!) 

 

Linda gave a well informed, seven minute speech on the protests against the construction of the Erebus memorial in Dove Myer Robinson Park. Clearly the protestors were highly motivated, well informed and and highly organised. They can thank their lucky stars that the memorial is yet another failed Labour government project.

 

Tony Leigh (analyst) and Jonathan Wall (investment advisor) both of Forsyth Barr gave a fascinating account of current banking with reference both to NZ and the recent collapse of some banks in the US. They emphasised that NZ banks were very secure, the main ones being subsidiaries of major Australian banks which, if push came to shove, were backed by the Australian superannuations fund. So your money's safe with them.

They made the comment that they could see many small, local US banks having difficulties as depositors moved their accounts to the much larger and supposedly more secure banks in the States. That would not be a pretty sight!

They claimed that banking had been, "Borrow at 2%, lend at 4%, golf at 3pm" however those times had changed as banks moved into other areas, financial advice, insurance, etc. but now they were moving back to their more traditional task - expect golf links to be full in due course! 

All together very interesting - and significant food for thought, especially  for those with money in the bank! 

 

The meeting closed at 8.34.