Time to put money Back into ICELAND?

Moon_Boi

Iceland now paying 18% interest, i don't think you can beat that??:money:

http://www.bloomberg.com/apps/news?pid=20601068&sid=ay_YbdypX2T0&refer=home

stevetodd

Moon_Boi wrote: »

Iceland now paying 18% interest, i don't think you can beat that??:money:

http://www.bloomberg.com/apps/news?pid=20601068&sid=ay_YbdypX2T0&refer=home

Yeah but wouldn't you loss heavily on the currency

JayTee99_2

Today's increase in the key rate comes after the central bank on Oct. 15 cut it by 3.5 percentage points from 15.5 percent.

ahh.. but perhaps there are more important issues than a UK-beating rate

such as stability?

they just increased the key rate by 50% !!

http://www.sedlabanki.is/?PageID=287&NewsID=1934

highet

iceland - 18% - thats rubbish - how about this -
[FONT=Verdana, Arial, Helvetica, sans-serif]INTEREST RATES 23/10[/FONT]/08[FONT=Verdana, Arial, Helvetica, sans-serif]Overnight [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]8500.00%[/FONT]

reserve bank of zimbabwe - now thats what i call an interest rate!!!!!
fill yer boots

JayTee99_2

Zimbabwe or Iceland? no-brainer

looks like Kaupthing continues to default..

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayl24Wholu7k

oxocubes

Joking aside - remember Darlings warning - that the full refund of icesavers money is a one off, if you continue to save with a foreign bank you could lose the lot.

Raise the question of - what constitutes a foreign bank? does anybody know?

dancingdandare

nah.............if enough of us do it in the uk in a financial institution then he cannot afford to lose the votes..........:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:now he has done it once, he will find it difficult to reject others. HELLO ICELAND again!!!!! hahahah:T

nilrem_2

Moon_Boi wrote: »

Iceland now paying 18% interest, i don't think you can beat that??:money:

No need for us to give them our cash they have already got it! :eek::D

soulsaver

oxocubes wrote: »

Joking aside - remember Darlings warning - that the full refund of icesavers money is a one off, if you continue to save with a foreign bank you could lose the lot.

Raise the question of - what constitutes a foreign bank? does anybody know?

Darling didn't say the second half of that statement (I know you probably don't mean that he did but it reads that way without quotes)
Darlings point is that FULL refund is a one off- others (assuming they are FSA authorised) would be/are covered by the fscs up to the £50k last resort limit.
He didn't say why he chose to cover above the limit but I'd hazard a guess:
A) Because he was gonna get a load of flack about Gov not doing enough in the circumstances to draw peoples attention to the limits of FSCS coverage
That to say he was guaranteeing all retail deposits in all UK banks would have to be ratified by Europe to be legal..

agsnu

oxocubes wrote: »

Raise the question of - what constitutes a foreign bank? does anybody know?

Any bank not operating in the UK with a full FSA licence. This would basically be any "branch" of a foreign bank taking deposits in the UK, normally through the EU "passport" scheme.

Remember the UK treasury has not protected offshore deposits of British citizens, e.g. those in Landsbanki Guernsey of Kaupthing Singer and Friedlander (Isle of Man). If you were depositing in Singapore, your deposits would apparently be guaranteed by the Singaporean government. They might be in a much more stable position than the Icelandic government, but don't expect to have any help from the UK government should your bank fold.

SkipClick

Yet they even stealing more money from us than before. Christ hope they go froze to death.... :mad: