Should you take your money out of banks?

BobQ

IzzyFreedman wrote: »

Not true the governments can not grab your cash if you have it hidden at home. Oh and it wont happen here sounds like famous last words.

Well if you have up to £85K and its protected why would you bury it in the garden and risk someone steeling it?

Obviously if you have more its well worth encasing a few cubic feet of concrete under your patio.

MiserlyMartin

merlingrey wrote: »

I'm only worried if everyone else is, and people keep making these threads...so i'm getting worried and it's all your fault.

Better than having your head in the sand. Forewarned is forearmed.

MiserlyMartin

gozomark wrote: »

They can - they can issue brand new notes and only exchange existing notes under certain conditions

This is why gold is a good idea. But then you have the problem about do you have it in a vault managed by a company or do you hold physical gold which you do have to hide. The vault could be stolen by the government but your physical gold could be stolen by whoever breaks in. And no I don't have any gold.

A good article here

"Everywhere you look across the EU, there is a repression of savers — though no country has been so explicit in its intention to rob them as Cyprus.
In the UK, savers have lost an estimated £100 billion in interest since the Bank of England cut the base rate to 0.5 per cent four years ago.

In this time, rises in the cost of living have eaten into what income they can take, and Funding for Lending — a scheme to get banks to lend money — has slashed savings rates further still.

On top of this, quantitative easing (a policy of printing more money to free up capital for the banks) has caused payouts on pensions to plunge.

They are at such a pathetic level that someone with a £100,000 nest egg will now get just £5,000 a year income for a lifetime spent saving — almost £2,000 a year less than four years ago.
The Chancellor may be talking tough in terms of protecting the funds of British troops stationed in Cyprus, but he has done nothing to help the millions of savers in the UK who were prudent in putting money aside for their old age but feel betrayed at the way they have been treated."

Barcap

quantitative easing is a form of theft, governments in troble (to much debt) inflate the money supply to sqeeze debt, and its main point is to steel people with horded cash (by de-valuing the buying power of it)

We are a shark economy. (government HATES savers)
The only form of growth we get is by creating more debt ( it will last until the bubble pops), NO government in the world today will pay off those debt clocks (national debt), because in doing so will only resort to de-flation, and negative growth (it a NONE option)

So the government only has one target im affaid.. and it people with savings... this countys finance will die one day, over 50% of the population dont work (inactive) over 50% of workers are recieving tax-credits (meaning they are NONE taxpayers).
We got romainia and bulgaria comming here next year.. i can go on, but its too depressive.

Ken68

A few years ago my state pension was stopped, no explanation, just "we'll look into it".
It took about two weeks to sort,to this day no proper explanation, but very awkward at the time as had quite a few transactions on the go, direct debits to pay etc.
Taught me a lesson, now have another account elswhere plus cash at home.

merlingrey

MiserlyMartin wrote: »

Better than having your head in the sand. Forewarned is forearmed.

Well i've got some gold coins already, not sure if they will help though if nobody has any money to sell them to LOL.

Not sure what would happen if it all kicked off i don't think you can hide anywhere from total financial collapse.

You can maintain your effective wealth through physical assets but you still need to be able to exchange those things for food and services and so on or else you're f**ked.

Barcap

The cake (economy) is only so big, and its getting smaller each year..yet there are more hands taking from that cake.

The government is gonna get desperate in the future.. and who do you honestly think their gonna be looking at. take care

MoneySaverLog

Barcap wrote: »

The cake (economy) is only so big, and its getting smaller each year..yet there are more hands taking from that cake.

The government is gonna get desperate in the future.. and who do you honestly think their gonna be looking at. take care

They're baking more cakes but they don't have the cash to buy the ingredients to make them, so they're making up more money to pay for the ingredients. Soon those ingredients are going to cost more, as the value of the pound becomes worth less and less.

Barcap

MoneySaverLog wrote: »

They're baking more cakes but they don't have the cash to buy the ingredients to make them, so they're making up more money to pay for the ingredients. Soon those ingredients are going to cost more, as the value of the pound becomes worth less and less.

You may think its a joke, but try telling that to the people all lost nearly everthing in cyprus. And trust me it can happen here, you can only print for so long..

The government hasent got the balls to stand up to europe, we are being overrun with migrants seeking to suck us dry, just look at our schools and services.. completely overrun with kids (and who do you think are having them all)

Its no laughing matter as your CASH is not safe, they will not cut welfare too much as these people will burn down london... they will go after easy targets..etc you with cash and old people.

MoneySaverLog

No I do not think it is a joke, what my analogy is showing what is actually happening in the wider scheme of things from what I can see.