Protect against UKGOV savings confiscation

JohnRo

Why would the Government steal savings when they can just endlessly print money?

They do one thing with the other..because you can't print wealth...

Money printing causes inflation, at some point, and it's that inflation which robs you of the value in each of the tickets in your pocket and rewards the money printers sitting, metaphorically, on bales of minty new ones containing all the value they just transferred to themselves.

ruperts

Germany is a bit of a funny choice given that the article that provoked this thread is focussed primarily on... Germany. Like moving to Siberia because you don't cold British winters.


As for your expectation that people should currently be on the streets in Britain, why should they? Things haven't looked as rosey as they do now for years.

Glen_Clark

kidmugsy wrote: »

property is a sitting duck for punitive taxation; it's immoveable, illiquid, and well-documented as to ownership..

The ownership of some property is notoriously opaque, hidden in foreign trusts etc. Of course the Government could seize the propertyin lieu of taxes and then the real owners would soon appear. But the English Government is invariably on the side of the property owner. For example they allowed private wheel clamping long after every other country I can think of including Scotland and Wales had abolished it.

lvader

JohnRo wrote: »

They do one thing with the other..because you can't print wealth...

Money printing causes inflation, at some point, and it's that inflation which robs you of the value in each of the tickets in your pocket and rewards the money printers sitting, metaphorically, on bales of minty new ones containing all the value they just transferred to themselves.

Some inflation is generally a good thing, thats why we have a target of 2% rather than a target of 0.

pip895

Currently things are pretty benign here - I have concerns about what might happen in the future - perhaps with a Lib/Lab coalition. I don't think direct savings taxes are very likely even then. They would more likely be


1. Property tax & Taxes on Private landlords
2. Removing tax relief on pensions above 20%
3. Capping Isas - perhaps stopping people with more than 100k in, adding any more.
4. Merging NI with Income tax so effectively removing the cap for higher earners etc..


What have I missed?

I'm not sure moving to Germany would help that much - the German economy is only marginally better than ours and they are saddled with the Euro.

C_Mababejive

brendon wrote: »

I think it's unlikely. If it happened, society would deteriorate overnight. There would be civil war on the streets.

Coincidentally,only the other day i was in conversation with a Cypriot and amongst other things,we discussed the economy. I asked how it could be that the Cypriot Government stole money from people and yet the banking system is still there,people put money in it and there was no civil war as i expected? She just shrugged her shoulders and said,,well you know the people are very easy going/laid back...

Thats how it will be in the UK when they do it.

They will steal your money and no one will do anything because the British are a cowed and subjugated nation.

atush

guitarman001 wrote: »

Talk about holier than thou!!!!!! You never hear about the losses, huh?? Well, I knew what I was getting into, if it worked I would have been very well off, but as it stood, I was RIGHT to sell in that the company went under and I would have lost even more than I had! I've been honest stating my losses, so I don't know what got up your nose!
Honestly, get off that high horse lol! ;D

If I was sitting up high it was to see the forest for the trees.

You seem to be put off investing as you invested over your risk profile (as you are still resentful of your loss). the only times I have invested in companies that might go down, I was prepared to lose 100%. Once I doubled my money (rail track before they went down) and the other I lost it all. So I have no problems with either as I knew it was a punt and it didn't put me off investing in future.

bigadaj

C_Mababejive wrote: »

Coincidentally,only the other day i was in conversation with a Cypriot and amongst other things,we discussed the economy. I asked how it could be that the Cypriot Government stole money from people and yet the banking system is still there,people put money in it and there was no civil war as i expected? She just shrugged her shoulders and said,,well you know the people are very easy going/laid back...

Thats how it will be in the UK when they do it.

They will steal your money and no one will do anything because the British are a cowed and subjugated nation.

Though in or active the majority if that Money was from apparently less than legal sources in eastern climes, which is why teh relatively high trigger amount was adopted before the confiscation/ Tax was set.

Glen_Clark

bigadaj wrote: »

the majority if that Money was from apparently less than legal sources in eastern climes.

Where do you think the money is coming from to buy up £5m London houses?
Property ownership in England is so opaque, the Government so obsessed with keeping house prices high, it makes it a good place for foreigners to put dodgy cash.
But at least the dodgy foreign cash buying all these houses is propping up the pound. For now.

guitarman001

ruperts wrote: »

As for your expectation that people should currently be on the streets in Britain, why should they? Things haven't looked as rosey as they do now for years.

Say whaaaat? If you believe that, you'll believe anything!