Premium Bonds is our money safe?

oldvicar

Well, I lost nothing in Iceland, apart from some good interest. Because I (prudently?) removed all my savings 6 months before it all went pear shaped. I lost interest but slept well (and smugly) at night whilst chaos reigned. There were plenty of warnings. although the greedy (and :money:) wouldn't see them.

I think MrRee has a much better grip on reality (although he is a bit weird) than Andystriker.

I would say be afraid, be very afraid. But Don't Panic !

oldvicar

ses6jwg wrote: »

If a UK bank failed you wouldn't lose your money.... it would just become worthless because the Govt would be forced to print even more money to cover the payouts, causing further inflation and an overall devaluation of your savings.

The government is not Forced to print money, but it is likely to.

If ONE bank fails, then this is almost certain.

If TWO banks fail, then this is likely.

If THREE banks fail, this is probable

If FOUR banks fail, this is possible

If FIVE banks fail, then a SIXTH is likely to follow

If SIX banks fail, then the rest will collapse under the weight of the FSCS

When all the banks fail ... may the gods be merciful.

Andystriker

Everyone get the tins of beans and Shovels ready - The world is ending:rotfl:

oldvicar

Do you remember that after the Icelandic banks crashed, the Icelandic people sent hand-knitted jumpers to England because they heard that our pensioners couldn't afford to pay their heatiing bills?

We don't want it to get as bad as that surely, even if the world is ending.

Andystriker

There is no need to be afraid,

no UK bank will crash

And people have no reason to panic or take all their money and put it under their beds, despite what people like you are spouting:)

atush

Andystriker wrote: »

And how much did you lose in your Icelandic Accounts?

Your money in a UK bank is not in danger and all your savings in a UK Bank are absolutely safe.

I got 100% of my money back from an Icleandic bank.