Savings Interest Rates Getting Worse

[Scaf]

What a load of bank nonsense!

They were hacked and customers can’t get their cash??
Wake up, if it were true the fact they were hacked tells u how secure they were!

Thank you for proving my point. Imagine having £100k in that bank, restricted to £1000 withdrawals, because of their terrible security!

But in return clients gained interest less than inflation. So no access in return for a loss of value and no control.

Your banks customers have just been well and truly “Cyprussed!”
Can you name and shame?

The restrictions were about cash withdrawals not about accessing your money.
So in this case you could have bought £100k or Gold by transferring the money.

Genuinely interested in how you would ever turn you Gold into “pure cash” without using a bank, I doubt your bullion trader will hand you cash money.

 

[Davidt99]

The restrictions were about cash withdrawals not about accessing your money.
So in this case you could have bought £100k or Gold by transferring the money.

Genuinely interested in how you would ever turn you Gold into “pure cash” without using a bank, I doubt your bullion trader will hand you cash money.

With this particular institution £100k would take 10 transfers per day over 10 days unless you paid for a CHAPs transfer.

 

[CatmanV2]

With this particular institution £100k would take 10 transfers per day over 10 days unless you paid for a CHAPs transfer.

Umm, the article is pretty clear it's cash, no mention of transfers. I know I did some after the date of that article (2014!) with no issues....

C

 

[Scaf]

With this particular institution £100k would take 10 transfers per day over 10 days unless you paid for a CHAPs transfer.

Article references cash, but in any event I have never had an issue transferring sums greater than £10k from my current account with them.

 

[Davidt99]

I think you guys are confusing Watties response to my post with something else.

 

[lifes2short]

I think you guys are confusing Watties response to my post with something else.

pardon, I'm confused, what response, what post and what's the something else

 

[Wattie]

The restrictions were about cash withdrawals not about accessing your money.
So in this case you could have bought £100k or Gold by transferring the money.

Genuinely interested in how you would ever turn you Gold into “pure cash” without using a bank, I doubt your bullion trader will hand you cash money.

Cash withdrawals or not, it proves they can do what they like....What if they’d stopped transfers too......capital controls have been used before.

I hold a combination of Gold and cash, beyond banks - enough to last months.

Next year I will begin stripping my pension fund at the fastest rate I can- it’s captive cash apart from the tax free element.

I see Gold being revalued dramatically higher at some point and if it ever gets to the point that the entire banking system has imploded, everywhere, then frankly there will be social disorder and a gun is required.

https://www.sportsmaserati.com/index.php?threads/brexit-deal.27598/post-709586

 

[Wattie]

Cash withdrawals or not, it proves they can do what they like....What if they’d stopped transfers too......capital controls have been used before.

I hold a combination of Gold and cash, beyond banks - enough to last months.

Next year I will begin stripping my pension fund at the fastest rate I can- it’s captive cash apart from the tax free element.

I see Gold being revalued dramatically higher at some point and if it ever gets to the point that the entire banking system has imploded, everywhere, then frankly there will be social disorder and a gun is required.

https://www.sportsmaserati.com/index.php?threads/brexit-deal.27598/post-709586

Glad you think its funny Scaf.

 

[Froddy]

Just be grateful it isn't 1933, when the US President confiscated everybody's gold to bail the country out!

I fear history is in the process of repeating itself with unserviceable national (particularly US) debt which simply cannot be repaid. The current trend in negative interest rates is simply the first step to steal money off people. There's no other way out. We've been here before ...

 

[Felonious Crud]

I think you guys are confusing Watties response to my post with something else.

 

[Wattie]

im easily confused. I’m still trying to figure out why I’ve got one brother but my sisters got two

 

[Wattie]

Just be grateful it isn't 1933, when the US President confiscated everybody's gold to bail the country out!

I fear history is in the process of repeating itself with unserviceable national (particularly US) debt which simply cannot be repaid. The current trend in negative interest rates is simply the first step to steal money off people. There's no other way out. We've been here before ...

View attachment 65282

I think it’s possible that the Coronavirus could be the “black swan” event that brings this entire global fiasco crashing down.

 

[CatmanV2]

Not a chance

C

 

[Wattie]

Not a chance

C

There’s always a chance.

 

[CatmanV2]

There’s always a chance.

Well, technically you are correct, of course.

In this case, I will bet you're not.

C

 

[JonW]

 

[Wattie]

Well, technically you are correct, of course.

In this case, I will bet you're not.

C

Ok let’s have a little wager on things. I reckon the Dow Jones will fall 20% plus by the time this is over, the virus eradicated.....global markets will tank too as the Us falls.
Central banks will intervene to try to keep it propped up via QE, no selling etc

Today’s market levels if you’re happy?
Case of Laithwaites wine of choice on it....whites/ reds/mixed.

 

[CatmanV2]

More than happy to have a bet, but that's far too ill defined

A virus is never eradicated.

So Dow falls by 20% in say 6 months I'd go for (assuming there's not some other event) but that hardly seems like global fiasco crashing down.

So
Dow
FTSE100(50? Dunno)
Hang Seng
Deutche Bourse
All down by 20% from today's levels before my birthday, August 14th?

For one of these:
https://www.laithwaites.co.uk/product/Most-Re-ordered-Mix/M11936

Do you want to grab today's levels and work them out, or shall I?

C

 

[Wattie]

More than happy to have a bet, but that's far too ill defined

A virus is never eradicated.

So Dow falls by 20% in say 6 months I'd go for (assuming there's not some other event) but that hardly seems like global fiasco crashing down.

So
Dow
FTSE100(50? Dunno)
Hang Seng
Deutche Bourse
All down by 20% from today's levels before my birthday, August 14th?

For one of these:
https://www.laithwaites.co.uk/product/Most-Re-ordered-Mix/M11936

Do you want to grab today's levels and work them out, or shall I?

C

Yup that’s fine C,
I sincerely hope you’re correct as the global health implications of me being right are horrendous. It would be a nice way to celebrate your 30th birthday.
B

 

[CatmanV2]

Very good

So all
DJI below 23432
DAX below 10782
FTSE below 5985
HSI below 21949

Before 2369z 13/08/2020

C