Just How Safe Is NS&I

POPPYOSCAR

Do not know if they are safe from being 'confiscated' etc. but we were a bit perturbed when OH could not remember his password and they transferred him to another department telling him not to divulge any information other than the account number even if they asked for it.

They did ask for it and when he refused to divulge the information they refused to give another password.

It took several more phone calls demanding to speak to a supervisor to get it sorted out.

Really put us off.

Oblivion

ColdIron wrote: »

NS&I are not just backed by the Treasury, they are state owned and an executive arm of the Treasury

So this will be the same Treasury that commits funds to spending my money on just about anything we can't really afford including global wars or am I getting confused again?

Pincher

This is the problem with a democracy.
All these silver haired dearies who actually have savings will protest and vote oh no you don't.

They will just take the easy way out and print more money to pay you back. Obviously the pound you get back will be able to buy half a banana, or less.

Oblivion

Pincher wrote: »

This is the problem with a democracy.
All these silver haired dearies who actually have savings will protest and vote oh no you don't.

They will just take the easy way out and print more money to pay you back. Obviously the pound you get back will be able to buy half a banana, or less.

Oh damn, and I love bananas. Suppose I'll have to invest my millions offshore then.

ColdIron

Oblivion wrote: »

or am I getting confused again?

Hard to tell but I figure you're a troll so I'm out of here

Oblivion

ColdIron wrote: »

Hard to tell but I figure you're a troll so I'm out of here

A troll? With my posting record? How silly.

Linton

Oblivion wrote: »

National Savings & Investments make a big play of the fact that they are backed by the Treasury and so your savings are guaranteed up to any limit ... but just how safe is that assurance?

I now have a significant sum deposited with NS&I and I'd like to be reassured that it is really safe.

What is to stop the government announcing that all NS&I savings have now been confiscated to pay for the next idiotic war?

Why should they want to? They can print lots more if they need them. They can tax you no matter in what form your wealth is held. The simple answer is that NS&I is as safe as £s. What else is there that you can use to buy your groceries with? What else is there that is any safer? There are many things, like banks, that are a lot less safe for large sums of money.

bowlhead99

Oblivion wrote: »

A troll? With my posting record? How silly.

Well, in the last couple of hours you have posted on two threads in the Savings and Investments forum.

One post on another thread where you said that huge numbers of financial advisers were simply conmen, disparaging thousands in the regulated financial services industry.

Six posts on this thread where you argued with anyone who would listen that depositing your money with HM Treasury, who can print an unlimited amount of pounds to ensure they are able to pay you you back, was not very safe because they could use it for war and then refuse to pay you. As if they could not simply cause the same financial detriment to you if it was lodged in a bank or stored in coins under your bed.

The suggestion that you are perhaps a troll despite your perfect posting record, causes you indignation?

Well, what is a troll?

In Internet slang, a troll (/ˈtroʊl/, /ˈtrɒl/) is a person who sows discord on the Internet by starting arguments or upsetting people, by posting inflammatory, extraneous, or off-topic messages in an online community (such as a newsgroup, forum, chat room, or blog) with the intent of provoking readers into an emotional response or of otherwise disrupting normal, on-topic discussion, often for the troll's amusement.

So lets look at the impeccable posting record of the person who claims not to post inflammatory statements, start arguments etc with the intent of provoking readers into an emotional response, for his own amusement.

Just a month or so ago, sixty-odd posts into your thread:

Oblivion wrote: »

Lily-Rose wrote: »

I never understand why someone makes a life choice and then spends all their life trying to convince everyone that their choice is the best one of all, and anyone who doesn't agree is wrong/stupid/foolish/moronic etc etc etc...... Sounds to me, like someone is trying to convince themselves.

All in all, an incredibly bizarre thread to start.

Got you thinking and posting though didn't it.

Every concept in life needs challenging from time to time and you responded to the challenge. There is no right or wrong in this topic ... I'm simply enjoying peoples' different opinions.

Oh right, but the large number of posts you have made since being retired and having nothing better to do with your time, somehow exonerates you from any suggestion that you are just arguing with anyone who will listen, to 'get them posting', for your own amusement.

Sorry Dave, the quality of discussion is better on this board than in the Moneysaver's Arms and we like it that way.

jimjames

Oblivion wrote: »

Well that sort of assumes a scenario of a government not in panic or not simply corrupt. There are Billions of pounds invested in NS&I 'savings' products. Can anyone guarantee they are really safe if say a 'Donald Trump think-a-like' were to be elected here in Britain?

If you're that worried why not invest them in S&S where they'll be safer?

bowlhead99

jimjames wrote: »

If you're that worried why not invest them in S&S where they'll be safer?

Sorry jj you're missing the bigger picture, what is to stop the government or multiple governments deciding to assassinate all the CEOs of listed companies on a whim or simply nationalising them, destroying the value of your debt and equity and property investments.

The only place safe place for your wealth is in our new best friend's concrete bunker, safe inside his 'extensive grounds'.

:rotfl: