UK just 48 hours from banking collapse

PasturesNew

mvengemvenge wrote: »

Good idea, just a shame most of us haven't got a pile like that.

I mean £100 in cash. That's a pile to me. £100 in cash lasts aaages.

bubblesmoney

hethmar wrote: »

I think the key words are "extreme scenario". Of course every possibility would have been discussed at any meetings. I think scare mongering is unwise at any time though.

extreme scenarios such as this became a real nightmare for iceland. gordon has got our backsides in a similar sling. so it is a matter of maybe a possibility for the general public to consider as well and not just bankers to postulate. afterall if the !!!! does hit the fan, bankers would have got the drift earlier and pulled enough of their personal assets out before all hell breaks loose, the only mugs without a tin hat to !!!! in will be the general public as always.

baileysbattlebus

sb44 wrote: »

Just found this online at the People online but it looks like it was taken from http://banking.einnews.com/?offset=60 , by Nigel Lawson.

http://www.people.co.uk/news/tm_headline=uk-just-48-hours-from-banking-collapse%26method=full%26objectid=20999896%26siteid=93463-name_page.html

The scary bit is ' In an extreme scenario, people would not have been able to withdraw money from cashpoints.They could have been forced into an exchange system for goods'.

you need to read about Argentina in 2002 - people couldn't get their money from cashpoints - some of them never got their money.

The reasons for the collapse may have been different but the consequences were terrible for normal people.

http://www.washingtonpost.com/wp-dyn/articles/A47822-2002Aug5.html

sb44

baileysbattlebus wrote: »

you need to read about Argentina in 2002 - people couldn't get their money from cashpoints - some of them never got their money.

The reasons for the collapse may have been different but the consequences were terrible for normal people.

http://www.washingtonpost.com/wp-dyn/articles/A47822-2002Aug5.html

Blimey, that bit about the cow, it's like something out of a horror/survival movie!

IveSeenTheLight

sb44 wrote: »

Just found this online at the People online but it looks like it was taken from http://banking.einnews.com/?offset=60 , by Nigel Lawson.

http://www.people.co.uk/news/tm_headline=uk-just-48-hours-from-banking-collapse%26method=full%26objectid=20999896%26siteid=93463-name_page.html

The scary bit is ' In an extreme scenario, people would not have been able to withdraw money from cashpoints.They could have been forced into an exchange system for goods'.

First couple of sentences

Britain was only 48 HOURS from a collapse of the banking system, The People can reveal.

It was feared the nation's banks and cashpoints would close within two days.

The use of past tense, makes this really a non story.

Time to look forward, not back.

mizzbiz

IveSeenTheLight wrote: »

First couple of sentences

The use of past tense, makes this really a non story.

Time to look forward, not back.

If it could get to that stage without the public being aware, this is very serious and should be viewed as a a warning, not a non-story. This was just over a month or two ago and things are not much better, in fact are worse.

I for one feel that it is better to be prepared now for this kind of thing as we slide even deeper into recession. Even Christmas couldn't keep things bouyant, January and February are likely to be awful, the following months likely the same.

Count_Dante

IveSeenTheLight wrote: »

First couple of sentences

The use of past tense, makes this really a non story.

Time to look forward, not back.

That's absurd. I want to know the individuals responsible for this near train wreck and see that they are punished hard. We could start with the smug w@nkers at the top of the banks who paid themselves huge bonuses for strong profits in the good years, when those profits were based on vapour.

GDB2222

PasturesNew wrote: »

I mean £100 in cash. That's a pile to me. £100 in cash lasts aaages.

Sadly, less than one supermarket shop for us.

IveSeenTheLight

mizzbiz wrote: »

If it could get to that stage without the public being aware, this is very serious and should be viewed as a a warning, not a non-story. This was just over a month or two ago and things are not much better, in fact are worse.

I for one feel that it is better to be prepared now for this kind of thing as we slide even deeper into recession. Even Christmas couldn't keep things bouyant, January and February are likely to be awful, the following months likely the same.

Fully agree, good to use as a warning, but it really is a re-hash of a story like you said from a month or two ago.

The use of the headline "UK just 48 hours from banking collapse" suggest this is present tense, its happening now, which really is not the case is it?

For me its poor journalism, a "non story day", so they re-hash something from a few months ago with a grabbing headline hoping to sell a few more papers with no real new information in the article.

Lets also look at the source

A well-placed source said

Who the hell is that? for me its akin to saying "It's reported that......." a way of journalists being able to print whatever they want without being able to be blamed i.e. it was not me or the paper that is saying this, but someone else.

So sorry, this article is really a non story

hethmar

If the public did believe this - oh dear, just realised it was from The People - I didnt know that paper still existed. But if everyone read it and believed their money was safer under their mattresses, then that would bring about the scenario painted.