Icesave- Martin is wrong.

edwinac_2

silentfox wrote: »

Just reading it may take up to 4 months for people to get their money back

That sounds incredibly optimistic.

Jonathan Clark, director of claims at the FSCS wouldn't be drawn on the possible timescale of payouts.

Clark was interviewed by Sky News around 4.50pm yesterday (Tuesday).

He was explicitly asked by the interviewer..

"How long before savers get their compensation, Mr Clark? Are you talking weeks, months or years?"

Clarke replied...

"It certainly won't be weeks. It could take many months or.."

I don't think he could bring himself to finish the sentence with the words "..or years."

This is possibly the most complicated claim yet handled by FSCS. Two distant countries, each with its own laws and its own language, must coordinate effectively before savers see any compensation.

edwinac_2

silentfox wrote: »

It doesn't help that the PM of Iceland felt his friends (UK) weren't there to support him and now he is waiting on "new friends" ......Russia!! Lets hope they help out as I doubt very much that the FSCS will pay out Iceland's share.

I am wondering why Russia would want to help out any English depositors.

There has been a concerted black propaganda campaign organised against the Kremlin for several years now.

Much of the Russia-hating campaign is run by gangsters who work at the highest level of the Anglo-American Establishment.

Why ever should Russia overlook that to help bank depositors who've lost their cash in Iceland? I would have thought this gave the Kremlin an ideal opportunity for sabotage and revenge.

As we speak, Zbigniew Brzezinksi, the Rockefeller Trilateralist and "adviser" to Baruck Obama, is engineering a big "show-down" with the Russians. Forget Al Qaeda, Russia is the new enemy. Brace yourself for some serious fireworks in that quarter.

Thatcher's favourite propagandist, Lord Bell, was behind the disgusting PSYOP that was the Litvinenko assassination. A false flag wet job which falsely implicated Vladimir Putin in his death.

There there was the "magic stone incident", that exposed the nefarious statecraft activities of British "charities" working in Russia.

The Beslan massacre and other crises in the Russian Caucasus were orchestrated by a revolting pig who today is kept in a grace-and-favour London flat by one of the Russian oligarchic fugitives who looted the nation during the Yeltsin era, on behalf of the House of Rothschild. These are criminals that London refuses to extradite despite repeated requests from Moscow..

And yet, somehow Russia is expected to find the money to compensate middle-class English savers in Icesave...

baby_boomer

silentfox wrote: »

My point is that this forum... is for less financial savvy people, so a recommendation from Martin carries weight, as most will follow blindly without question

I've thanked your post for this point in particular. They and he will no doubt learn from this episode.

Bigger, more prominent disclaimers anyone?

cogito

silentfox wrote: »

Well Martin got smacked about a bit on channel 4 as to why he kept putting icesave on his best buy, but in fairness he did change his advice soon after I first posted this thread in April and also responded to the thread himself.

So personally I don't really blame him, also as he points out most people will get their money back.

Whole thing is a real shame, also it doesn't help that the PM of Iceland felt his friends (UK) weren't there to support him and now he is waiting on "new friends" ......Russia!!

Lets hope they help out as I doubt very much that the FSCS will pay out Iceland's share.

Lovely people, the Russians. Their loan to Iceland couldn't possibly have anything to do with Iceland's strategic position in the middle of the Atlantic could it?

bazster

isofa wrote: »

Agree in the main.

I weighed it all up, and made the decision, no one else was responsible, certainly not Martin.



Sadly not that easy! Those with fixed terms (many many of us), could not withdraw - I would have withdrawn a long time ago after the travel firm collapsed, but it's fixed and untouchable.

Good point, my simple solution was only available to those with instant access accounts.

wolfman

Toastie wrote: »

However don't write in huge writting how you must be correct and a man who went to LSE and hosts a free message board for us less financially savvy people to discuss the best ways to make the most of their savings.

silentfox wrote: »

No doubt Martin provides a fantastic service for free on this website, that's not in question.

I'm not gonna argue about Martin, I and others in the end chose to put our money there so have to take responsibility. Whether responsibility could lie elsewhere will be argued.

Anyway, he does provide a free service, but it's all part of making money. A community of people that use his site, and click the referral links based on what is informed to be the best choice of ISA etc...

Much like Google offer a "free" service to us.

It's a great service, but money is always central to it.

AJK43

Alistair Darling on the Today programme has just said he's going to ensure Icesave customers get their money back as an exceptional measure ("I don't normally do this" - he said). No more details were forthcoming and he wasn't asked to elaborate on that statement.

posh*spice

Great thread because it shows how the regular posters on this board treated anyone who tried to challenge there view. These regular posters know who they are - sadly they stopped anyone else hearing an alternative version of their reality:mad:

isofa

Funny that the mods don't agree with you and are deleting all the ill founded posts isn't it.

I certainly would have withdrawn to under 50K after there was news of trouble, but not anymore, I was convinced we were safe, AS pretty much all of us were until yesterday.

Now it turns our we ARE all safe after all, so this is just a mindless debate.

BiteOfTheApple

Hindsight is a great thing jack111, unfortunately none of us had it until too late.

keeping below the 50K limit would have been sensible and most regulars mentioned this, as did Martin.

From what is happening on this morning, as the above post from Isofar it appears we will all be safe.

I chose not to, my mistake, not regulars (or Isofa who is currently being picked on), and not Martin.

Can we now just relax a little and stop the childish name calling, it's not helping me, nor anyone else.

What one does, another should not do, unless they are sure. We aren't sheep as I've seen posted before, we all have our own minds to make our own decisions.

Only children blame others for their mistakes, not grown adults.

It is my fault I put money into Icesave, no one else's, and you'd all be well to remember that.

I'm keeping my ear close to Radio 4 at the moment.