MSE News: NS&I axes inflation-beating savings deal

edited 30 November -1 at 1:00AM in Savings & Investments
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  • le_louple_loup Forumite
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    Ah, but your edit now makes my post nonsense ... so you win! ;)
  • edited 20 July 2010 at 1:03PM
    tonyhammtonyhamm Forumite
    221 Posts
    edited 20 July 2010 at 1:03PM
    So the robbery of savers to contribute towards debtors and the tower of bad loans continues. With 200,000,000,000 new pounds minted (I cannot work out who gets thier hands on these newly printed pounds first?) As the Bank of England follows the Bank of Zimbabwe there is no no place to hide.

    The NS & I rate was the last refuge against the coming monetary inflation. There is now no chance of preserving the real value of capital IMO.

    As for all this nonsense about deflation vs inflation ; the same argument occurred with the bad debts and debt deflation of the 1960's. Inflation cannot possibly happen when people are unemployed and companies are nursing bad debts...was the argument. Then came the 1970s.

    Look at Iceland for another nation with its economies incomes built on a pyramid of bad loans and a 'high deflation' of incomes dropping and unemployment - its now facing massive monetary inflation and unemployment.
    http://www.csmonitor.com/Money/Stefan-Karlsson-s-Blog/2010/0420/Iceland-reports-record-34-percent-inflation.

    The real story of inflation is in the value of Houseprices. Just as in Zimbabwe - As long as they stay ridiculoiusly high back at the bubble levels, the forces of monetary inflation are at work.

    Make no mistake - this is a very critical event. There is no choice for savers anymore.

    My grandmother's family found in Weimark Germany when this event happens the very act of spending becomes the only way of preserving your income.

    High brow economists say 'the velocity of money' increases Prices = money supply x velocity etc.. but in low brow commonsense English all this means is people don't trust money and don't want to hold it cause they don't like getting robbed.

    We are now at that point.
    so says another ordinary mug fighting the 1% who own the political machine grinding them down from on high...
    :A
  • Martin
    Why aren't you doing an online petition on behalf of savers to bring back the ns and i accounts? You would have no shortage of people wanting to sign!
  • dunstonhdunstonh Forumite
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    Martin
    Why aren't you doing an online petition on behalf of savers to bring back the ns and i accounts? You would have no shortage of people wanting to sign!

    They will be back. Either next year when the new business figures are set for 2011 or the treasury decides that it will allow NS&I to break the agreed figures set for 2010.

    With NS&I index linked certs probably looking less attractive over the next 12 months, it may not be a bad thing that they are not available now.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • StevieJStevieJ Forumite
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    dunstonh wrote: »
    They will be back. Either next year when the new business figures are set for 2011 or the treasury decides that it will allow NS&I to break the agreed figures set for 2010.

    With NS&I index linked certs probably looking less attractive over the next 12 months, it may not be a bad thing that they are not available now.

    CPI+ I don't doubt.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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