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  • FIRST POST
    • MSE Guy
    • By MSE Guy 19th Jul 10, 1:37 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: NS&I axes inflation-beating savings deal
    • #1
    • 19th Jul 10, 1:37 PM
    MSE News: NS&I axes inflation-beating savings deal 19th Jul 10 at 1:37 PM
    This is the discussion thread for the following MSE News Story:

    "The Government bank has withdrawn its popular account due to huge demand ..."

Page 1
    • Old Wrinkly
    • By Old Wrinkly 19th Jul 10, 1:46 PM
    • 4,918 Posts
    • 8,450 Thanks
    Old Wrinkly
    • #2
    • 19th Jul 10, 1:46 PM
    • #2
    • 19th Jul 10, 1:46 PM
    Well at least it will stop the need for those "MSE article is misleading people about the interest rate" threads ...
    • pjread
    • By pjread 19th Jul 10, 1:52 PM
    • 889 Posts
    • 370 Thanks
    pjread
    • #3
    • 19th Jul 10, 1:52 PM
    • #3
    • 19th Jul 10, 1:52 PM
    knew I should've done it yesterday
  • The Thrilla
    • #4
    • 19th Jul 10, 2:54 PM
    • #4
    • 19th Jul 10, 2:54 PM
    Over the years I have always been able to get more interest elsewhere. But, as they say, every dog has its day. When its day came, I remember saying to myself: "How long is this going to last?" Not very long apparently. I got my deposits in just in time!
    • le loup
    • By le loup 19th Jul 10, 4:07 PM
    • 3,907 Posts
    • 3,954 Thanks
    le loup
    • #5
    • 19th Jul 10, 4:07 PM
    • #5
    • 19th Jul 10, 4:07 PM
    The real thread about this was started at 9:20 ... 2:37 is a bit late!
    • Arthurian
    • By Arthurian 19th Jul 10, 4:25 PM
    • 669 Posts
    • 617 Thanks
    Arthurian
    • #6
    • 19th Jul 10, 4:25 PM
    • #6
    • 19th Jul 10, 4:25 PM
    For those who are interested, this is the thread referred to above:-
    http://forums.moneysavingexpert.com/showthread.php?t=2603969 currently on page 3 of comments.
    • schiff
    • By schiff 19th Jul 10, 5:00 PM
    • 18,497 Posts
    • 9,920 Thanks
    schiff
    • #7
    • 19th Jul 10, 5:00 PM
    • #7
    • 19th Jul 10, 5:00 PM
    I find it weird that this is referred to as a Savings Account. Isn't it, or wasn't it, National Savings Certificates?
  • ESKIMO
    • #8
    • 19th Jul 10, 6:32 PM
    • #8
    • 19th Jul 10, 6:32 PM
    Hi folks, can someone please flag the previous 'clairedavid' post as we've got a member of Monty Python on the forum.

    My Outlook is having an 'issue' with doing as it's told.

    Much appreciated.

    Hate SPAM! Eurrghh.
  • LongTermLurker
    • #9
    • 19th Jul 10, 7:15 PM
    • #9
    • 19th Jul 10, 7:15 PM
    I think "axes" is misleading. Axes infers that the product has been withdrawn permanently and will never return. I don't believe that is the case, they have withdrawn the current issues and not released a replacement. I believe and assume that a new issue will be brought out at some point so the product has not necessarily been axed.

    There is a recurring theme on MSE of reporters/contributors posting alarmist and arguably misleading articals. There's no need - tell it like it is! This isn't the Sun!

    Martin, can we have less alarmist subject headings please? I know it's been asked before.
    Last edited by LongTermLurker; 19-07-2010 at 8:35 PM.
    You've never seen me, but I've been here all along - watching and learning...
    • le loup
    • By le loup 19th Jul 10, 8:17 PM
    • 3,907 Posts
    • 3,954 Thanks
    le loup
    You don't mean Microsoft Network, do you?

    But you are absolutely correct, it gets more tabloid by the issue.
  • LongTermLurker
    You don't mean Microsoft Network, do you?

    But you are absolutely correct, it gets more tabloid by the issue.
    Originally posted by le loup
    lol even after I read your post I didn't realise what you meant

    Sorted.
    You've never seen me, but I've been here all along - watching and learning...
    • le loup
    • By le loup 20th Jul 10, 7:49 AM
    • 3,907 Posts
    • 3,954 Thanks
    le loup
    Ah, but your edit now makes my post nonsense ... so you win!
    • tonyhamm
    • By tonyhamm 20th Jul 10, 12:01 PM
    • 217 Posts
    • 87 Thanks
    tonyhamm
    Where to go to preserve your savings?
    So the robbery of savers to contribute towards debtors and the tower of bad loans continues. With 200,000,000,000 new pounds minted (I cannot work out who gets thier hands on these newly printed pounds first?) As the Bank of England follows the Bank of Zimbabwe there is no no place to hide.

    The NS & I rate was the last refuge against the coming monetary inflation. There is now no chance of preserving the real value of capital IMO.

    As for all this nonsense about deflation vs inflation ; the same argument occurred with the bad debts and debt deflation of the 1960's. Inflation cannot possibly happen when people are unemployed and companies are nursing bad debts...was the argument. Then came the 1970s.

    Look at Iceland for another nation with its economies incomes built on a pyramid of bad loans and a 'high deflation' of incomes dropping and unemployment - its now facing massive monetary inflation and unemployment.
    http://www.csmonitor.com/Money/Stefan-Karlsson-s-Blog/2010/0420/Iceland-reports-record-34-percent-inflation.

    The real story of inflation is in the value of Houseprices. Just as in Zimbabwe - As long as they stay ridiculoiusly high back at the bubble levels, the forces of monetary inflation are at work.

    Make no mistake - this is a very critical event. There is no choice for savers anymore.

    My grandmother's family found in Weimark Germany when this event happens the very act of spending becomes the only way of preserving your income.

    High brow economists say 'the velocity of money' increases Prices = money supply x velocity etc.. but in low brow commonsense English all this means is people don't trust money and don't want to hold it cause they don't like getting robbed.

    We are now at that point.
    Last edited by tonyhamm; 20-07-2010 at 12:03 PM.
  • curlywhirly1
    nsand i
    Martin
    Why aren't you doing an online petition on behalf of savers to bring back the ns and i accounts? You would have no shortage of people wanting to sign!
    • dunstonh
    • By dunstonh 27th Jul 10, 1:41 PM
    • 98,305 Posts
    • 66,562 Thanks
    dunstonh
    Martin
    Why aren't you doing an online petition on behalf of savers to bring back the ns and i accounts? You would have no shortage of people wanting to sign!
    Originally posted by curlywhirly1
    They will be back. Either next year when the new business figures are set for 2011 or the treasury decides that it will allow NS&I to break the agreed figures set for 2010.

    With NS&I index linked certs probably looking less attractive over the next 12 months, it may not be a bad thing that they are not available now.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • StevieJ
    • By StevieJ 27th Jul 10, 2:20 PM
    • 19,537 Posts
    • 32,529 Thanks
    StevieJ
    They will be back. Either next year when the new business figures are set for 2011 or the treasury decides that it will allow NS&I to break the agreed figures set for 2010.

    With NS&I index linked certs probably looking less attractive over the next 12 months, it may not be a bad thing that they are not available now.
    Originally posted by dunstonh
    CPI+ I don't doubt.
    Government: "Should we get a pet?" 52%: "Yes" Government: "OK, we'll get a cat" 1/2 of 52%: "Oh no, I hate cats. I wanted a dog."
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