OS Singlies - We Do It Our Way!

moneyistooshorttomention

Frugalsod wrote: »

The Cypriot government actually considered taking a slice of everyones savings to bail out the banks. Though it would have caused panic if peoples deposits below the guaranteed limit were raided. Though do not think that they will not consider it here. The levels of assets that might be significantly over valued by the banks might be considerable and we have a massive level of private debt that is the highest in the world. So savings below the protection threshold could be raided here.

Hence why I simply don't trust our own Government to guarantee to keep safe that £85,000 or so that is supposed to be the guaranteed limit.

Errrm...well...what happens if we all call on that at once for instance?:cool:

calicocat

Can't remember now it was this or another thread I mentioned it on, but when I was transferring money about to keep under 85K when buying the house one guy in the bank said to me that if the banks go bust the whole 85K thing in his opinion meant jack-shoite. That made me feel a whole lot better of course...but worrying when a bank worker is saying that.....makes you wonder.

But then it would be a self fulfilling prophecy if everyone thought this and took their money out.

But I don't trust any of the beggars..m..gov or banks.

calicocat

MTSTM....


A great Welsh Adventure tonight has just being saying that welsh are mad about their furniture, and it all gets handed down through the family and it would appear kept for ever......this is why they think what you want is odd....

MummyBobble

Well who'd have thought it?

This time last year we had our hours at work cut by 20% (obviously with the corresponding cut in pay :eek: ) but with the promise that when the budget improved our hours would be increased as and when they could afford it (yeah, like that's going to happen we all thought). As a singly a 20% drop is a significant amount to lose and it's been a real struggle (it was before the cut to be honest with two teenagers in the house ).

Well blow my socks off, we've been offered our hours back :j:j:j so from the week after half term my hours are up again :beer:

Not a bad start to the week :rotfl:

moneyistooshorttomention

calicocat wrote: »

MTSTM....


A great Welsh Adventure tonight has just being saying that welsh are mad about their furniture, and it all gets handed down through the family and it would appear kept for ever......this is why they think what you want is odd....

I've watched some of that series to date. Must make mental note to be sure I watch that episode on Iplayer then.

I think he may well be right. Welsh homes belonging to older generation I have been in to date have included various items of inherited furniture and the owner is obviously proud of them.

It's not my taste personally, mine is very "modern" and I like my furniture plain and in light wood (the plainer and lighter the better). Hence my earlier comment that I am getting this house together "English fashion".

Maybe that's more an "older generation" thing re the darker wood/inherited furniture liking? I think it was only two "younger Welsh" houses I went in when househunting and they were done in a style not too different from my own.

I'm busily ripping out everything "older style" as fast as I can find workmen to do it personally. My next door neighbour gulps visibly at what I am doing to the house and then rallies herself and reminds me and herself that its my house and so understandable that I will want to do so. I know she would much prefer I had left it as it was, but I think she's realising that I literally couldn't have lived in it as it was (think old electrics, a Rayburn I hadn't the faintest idea how to use if I wanted to, etc). Even a roof that was looking likely to let the rain in through the ceilings! No-one was happy when I took that Rayburn out....but I offered to just give it to anyone that wanted it...and I think that is understood (even if not agreed with).

EDIT: MummyBoble..who'd a thought it to believe them? Good news they HAVE handed back the rest of your income.

Frugalsod

moneyistooshorttomention wrote: »

Hence why I simply don't trust our own Government to guarantee to keep safe that £85,000 or so that is supposed to be the guaranteed limit.

Errrm...well...what happens if we all call on that at once for instance?:cool:

I think that is the problem. The banks are still too interdependent and if there is a crisis at one of the banks then the rest will be hit very rapidly. The issue is that the likelihood of a bank run will now be considerable. If the government abandons the guarantee then it will mean that the poor will be used to bail out the rich, and that will not go down well.

moneyistooshorttomention

Frugalsod wrote: »

I think that is the problem. The banks are still too interdependent and if there is a crisis at one of the banks then the rest will be hit very rapidly. The issue is that the likelihood of a bank run will now be considerable. If the government abandons the guarantee then it will mean that the poor will be used to bail out the rich, and that will not go down well.

The words "and that will not go down well" I think are the best example I have seen for a long time of "British understatement":cool:

I tend to think that there will be a bottom limit of savings beneath which any Government will simply not dare to "come a nicking (ie thieving)" if only because of my dead cynical take on things of "If people have nothing left to lose....then they are totally free to take whatever action they think best about it" and that action may or may not be peaceful/logical. Been there/done that myself back in the past and thought "Dear Government, do NOT push me any further or I will have nothing left to lose and then......all bets are off".

But then...you may be getting the benefit of me being on the receiving end of a particularly bad couple of days on the House Renovation Project, ie to the extent I've burst in tears and been more than a little tempted to cut my losses and flee back to Home Area and have been grateful for a little bit of kindness shown and given myself a "talking to and pick up by scruff of neck" to continue onwards...

...and today's newspapers revealed a further extension to the Daft B&gger Scheme of the Century aka the Help to Buy Scheme, as in making it easier for people with certain objections to mortgages to clamber on board and get some help (translation = possible access to taxpayer funds) ...and there will be yet more of our money promised in that direction if it comes to it....and another "explosion" on my part of gawdgimmepatience...because in this day and age I certainly need it sometimes....

Anyone would think our country actually had some money....

calicocat

Frugalsod wrote: »

I think that is the problem. The banks are still too interdependent and if there is a crisis at one of the banks then the rest will be hit very rapidly. The issue is that the likelihood of a bank run will now be considerable. If the government abandons the guarantee then it will mean that the poor will be used to bail out the rich, and that will not go down well.

I think now that if the SHTF there will be no chance of a bank run.....they will simply not allow us to take money out as has happened elsewhere.

The other day in a shop my card didn't work....my first thought was...holy crappers has the bank gone down. it was a simple case of me not shoving it in the machine properly, but for this reason I keep a stash of cash with family so that I can still buy food and petrol.

I don't like living like this, it's feels sometimes like a constant waiting for something to go wrong which is no good for folk, and I can't wait for this state of affairs to end. Working out a balance of what is practical and what is paranoia and a waste of brain time is irritating.


Edit.....MItSTM.....hugs to you, it will end eventually even though it doesn't feel like it right now.

moneyistooshorttomention

Thanks Calico...and for right now...my cooker is out of action (again) at the moment and I'm scanning local takeaway menus. Cant recall the last time I had a takeaway. Not got a great choice here....but decided that a full meal is obligatory right now regardless and decided what dinner tonight will be courtesy of said takeaway.

Simple comforts...like a full stomach...

Frugalsod

calicocat wrote: »

I think now that if the SHTF there will be no chance of a bank run.....they will simply not allow us to take money out as has happened elsewhere.

The other day in a shop my card didn't work....my first thought was...holy crappers has the bank gone down. it was a simple case of me not shoving it in the machine properly, but for this reason I keep a stash of cash with family so that I can still buy food and petrol.

I don't like living like this, it's feels sometimes like a constant waiting for something to go wrong which is no good for folk, and I can't wait for this state of affairs to end. Working out a balance of what is practical and what is paranoia and a waste of brain time is irritating.


Edit.....MItSTM.....hugs to you, it will end eventually even though it doesn't feel like it right now.

Actually I am carrying on with my objectives regardless. I am not in the position to worry about losing big sums of money regardless. So even if they deduct a percentage of everyones money then I will still be no worse of than before. Once I am debt free I plan to keep more cash for such problems but these might not happen for a while. I could be in a very different financial position then. It could be several years before I have to panic, by which time I will probably be well and truly covered so really will not panic much then either.

For most people it will not be a problem. The government might restrict how much you can spend per day but as long as you prepared for any shutdowns of the stores for then you should be fine. It might become a cash economy for a while.