Bank and goverment Guarantees

Page may contain affiliate links. Please see terms for details.

WLeg

MB Enthusiast
Joined
Aug 7, 2003
Messages
1,299
Location
London
Car
MB GLC250
I'm not clued up on this stuff.....

But am I right that the wonderful Mr Brown is not guaranteeing our savings as he sold off all our Gold reserves, and so has nothing to guarantee with ?

Other than Gold bars under the matteress...what is safest right now ?
 
Your savings are guaranteed up to £50k or £100k if a joint account. Where Gordy gets the money from God only knows, but if you get yours back I'm sure you wont really care.....until the Tax rises
 
Gold bars under the bed ---until there's a glut of gold on the market and the price falls.:rolleyes:
 
Here's an opinion on investment strategy in these uncertain times. Maximum £50k deposits in banks and gilts seem the safest bet.
 
They upped it earlier this week in response to Ireland, Germany and Greece guaranteeing everything in their banks (very unsound).

There's a lot of knee jerk reactions and policies going on all over Europe...interesting times.

Meanwhile, after about two months of wondering if I'll have a business this time next year, all my customers have started to return. It's as though someone just turned business on again..most strange..but rather a relief....
 
dont speak too soon Mudster... Its very up and down most people I speak to at the moment.
 
They upped it earlier this week in response to Ireland, Germany and Greece guaranteeing everything in their banks (very unsound).

There's a lot of knee jerk reactions and policies going on all over Europe...interesting times.

Meanwhile, after about two months of wondering if I'll have a business this time next year, all my customers have started to return. It's as though someone just turned business on again..most strange..but rather a relief....

Do you think they stopped doing headless chicken impersonations and started using their own noodles and realised life goes on?
 
A lot of the problem is people talking themselves into a recession.
 
Do you think they stopped doing headless chicken impersonations and started using their own noodles and realised life goes on?

The feeling I'm getting from people is "What can we do about it - life goes on...."

It's a kind of resigned apathy.

The local shopping centres have never been so busy strangely....

I have quite a lot of stock in transit (3 containers of granite counter tops plus another four in production) and I have fitters crawling up the wall waiting for it...I just wish I could get it here quicker...

I just hope it continues....
 
Where will Gordy get the money from?

Simple. He'll just print some more. Which will lead to inflation, and then devaluation of £, and general poverty for all of us, not to say yet more taxes as we pay all the money back.

Oh what deep, deep joy!!
 
I'm not so sure this government will copy Zimbabwe's economic strategy on tackling debt. It's much more likely he'll borrow money from us in the form of Bonds.
With recession looming or already here, depending who you listen to, consumer spending will shink rapidly and deflation a possibility. Just read how that has effected Japan over the last 10-15 years to see dangerous that can be.
It's tough times ahead, save hard, spend wisely and enjoy a glass of wine each evening :)
 
Where will Gordy get the money from?

Simple. He'll just print some more. Which will lead to inflation, and then devaluation of £, and general poverty for all of us, not to say yet more taxes as we pay all the money back.

Oh what deep, deep joy!!


the cost will be added to the national debt .. each of us will ultimately pick up the bill
 
Lets face it if a high street bank fails - one of the big ones -- we are in big do do.

It is also important to look back at history and the Wall Street crash of the late 1920's led to a world wide recession partly due to European countries adopting protectionism policies.

It is imperative that EU countries work together - not in isolation. Therefore Ireland and now Germany are causing problems.

Savers in Northern Rock and BB were protected 100%.
 

Users who are viewing this thread

Back
Top Bottom